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In a stark reflection of the challenges facing the biotech sector, 10X Genomics Inc (NASDAQ:TXG) stock has tumbled to a 52-week low, reaching a price level of just $9.27. According to InvestingPro data, the company maintains a FAIR financial health score, with annual revenues of $611 million and a strong current ratio of 5.0, indicating solid short-term liquidity. This significant downturn marks a precipitous decline for the company, which has seen its stock value erode by an alarming 75.11% over the past year. Investors have been grappling with a mix of industry-wide pressures and company-specific concerns, leading to a sustained sell-off that has now culminated in this latest low point for 10X Genomics’ shares. Despite the challenges, analyst targets suggest potential upside, ranging from $12 to $26 per share. The market’s waning confidence in the once-promising biotech firm is now starkly evident in its current stock price, signaling a period of intense scrutiny and uncertainty ahead for the company. For deeper insights into TXG’s valuation and growth prospects, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, 10x Genomics reported its fourth-quarter revenue for 2024 at $165 million, surpassing analyst expectations of $153.44 million. Despite this, the company faced challenges with a larger-than-anticipated loss per share of -$0.40, missing the forecast of -$0.31. The company’s fiscal year 2025 revenue guidance is set between $610 million and $630 million, slightly below consensus estimates, factoring in potential impacts from National Institutes of Health (NIH) funding uncertainties. Additionally, 10x Genomics achieved a significant legal victory by securing a worldwide permanent injunction against Parse Biosciences, prohibiting them from selling certain products due to patent infringements. Analysts from Citi and Canaccord have adjusted their price targets for 10x Genomics, with Citi lowering it to $20 and Canaccord to $18, both maintaining a Buy rating. The company is navigating a commercial transformation, aiming for increased volumes through new product launches and pricing strategies. Despite these challenges, analysts like those from Canaccord remain optimistic about the company’s future growth potential.
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