10x Genomics Earnings Preview: What to Expect
Company Overview:
10x Genomics (TXG) reports earnings tomorrow after market hours. The biotech company has a history of missing analysts' revenue expectations, but analysts remain optimistic about its prospects.
Q4 Revenue Expectations:
Analysts predict a 13.3% year-over-year decline in 10x Genomics' Q4 revenue to $159.5 million. This would mark a significant reversal from the 17.8% increase reported in the same quarter last year.
Earnings Expectations:
Adjusted loss per share is expected to be -$0.11.
Analyst Estimates:
Analysts have largely maintained their estimates for 10x Genomics in the past 30 days, indicating confidence in the company's performance.
Peer Performance:
Illumina (ILMN), a peer in the life sciences tools and services segment, reported flat year-over-year revenue in Q4 but beat analysts' expectations. Bio-Techne also exceeded estimates with a 9% revenue increase.
Market Performance:
Investors in the life sciences tools and services segment have remained stable heading into earnings. However, 10x Genomics' stock price has declined by 21.7% over the past month.
Analyst Price Target:
Analysts have an average price target of $20.07 for 10x Genomics, compared to its current share price of $12.26.