Why Is 10X GENOMICS INC A (TXG) Stock Up Today?

TXG stock surged 12.60% to $58.59 in intraday trading driven by multiple price target upgrades from key analysts. The stock opened lower than the previous close but quickly reversed course as institutional optimism grew. Analysts from Canaccord, Piper Sandler, and Citigroup all raised their price targets, signaling confidence in the company's AI and biopharma growth prospects.

What Happened

Canaccord raised its price target for 10X Genomics to $60 from $50, while Piper Sandler increased its target to $47 from $42. Citigroup also raised its price target to $50. These upgrades followed a recent earnings report where the company beat both revenue and EPS estimates. 10X Genomics reported Q2 sales of $151 million, exceeding the $146.788 million estimate, and EPS of -$0.14, better than the forecast of -$0.24. Additionally, the company raised its full-year 2026 sales guidance to $610 million to $630 million, a slight increase from its prior range.

The company's CEO and a director have been selling shares in recent months, with SEC filings showing $2.6 million in insider sales over the last 90 days. Despite this, the stock has benefited from renewed institutional support and a strong earnings beat.

What The Data Shows

The stock opened at $51.74, a -0.6% gap from the prior close, but quickly climbed to a high of $59.00 by 2:00 PM ET. Trading volume reached 2.2 million shares, which is 0.7 times the 3-month average. The company remains unprofitable with a TTM EPS of -0.59, a revenue decline of -4.3% TTM, and a net margin of -12.2%. The stock has traded between $11.16 and $52.22 over the past 52 weeks.

What To Watch

The stock is currently trading near its 52-week high. Investors should monitor the company's upcoming earnings report and any further analyst activity. No earnings date was provided, but continued coverage breadth will be key to assessing the sustainability of today's rally.