Key Highlights

  • 10x Genomics shares climbed about 5.1% to $62.19 today, roughly 0.3% below a 52-week high near $62.38, extending a rally that began after its August 2026 Earnings report.
  • The move builds on a Q2 2026 earnings beat, with Revenue of $151.0 million against a $146.7 million estimate and an adjusted loss of $0.14 per share versus an expected $0.24 loss.
  • RSI near 71.2 indicates overbought conditions, coming after multiple analyst price-target increases, including Stifel doubling its target to $50 and Stephens lifting its target from $50 to $65.
  • The gains arrive alongside broader strength across genomics-tools peers this week, following a wave of biotech sector enthusiasm tied to Merck and Moderna's melanoma Vaccine trial results.

Earnings Beat Fuels A Multi-Day Rally

10x Genomics, Inc. (NASDAQ:TXG) has continued climbing toward a fresh 52-week high after reporting second-quarter 2026 results in early August that topped Wall Street expectations. The company posted revenue of $151.0 million versus a consensus estimate near $146.7 million and an adjusted per-share loss of $0.14, narrower than the $0.24 loss analysts had modeled. Management also raised full-year 2026 revenue guidance to a range of $610 million-$630 million from a prior $600 million-$625 million outlook, a signal that Demand for its single-cell and spatial genomics instruments and consumables is holding up despite a choppier capital-spending environment among academic and pharma customers.

Analysts Raise Targets Even As Core Growth Slows

Sell-side desks responded with a round of price-target increases: Stifel doubled its target to $50 from $25 while maintaining a Buy rating, Citi raised its target to $50 from $45, and Morgan Stanley lifted its target to $40 from $37. Gross Margin improved to roughly 74% in the quarter, up from about 69.6% previously, aided partly by a one-time Patent settlement; underlying revenue growth excluding that item was closer to 3% year-over-year, and total revenue was still down 12.7% from a year earlier on a reported basis. The company has also pointed to newer growth drivers, including its Proteintech Genomics acquisition, early demand for its Atera platform, and a multi-year cancer diagnostics collaboration with Lausanne University Hospital.

Overbought Technicals And A Cautious Street Average

An RSI of about 71.2 places the stock in overbought territory after weeks of steady gains off its lows in the low-$40s in late July. Despite the recent target hikes, the broader analyst consensus rating remains a Hold, with an average price target well below the current share price, reflecting lingering concerns about the reported year-over-year revenue decline and the company's continued lack of GAAP profitability. Investors will be watching whether instrument placements and consumable pull-through can sustain momentum without relying on one-time items like the patent settlement that boosted this quarter's margin.

What Investors Should Watch

10x Genomics is trading about 0.3% below a 52-week high near $62.38 after extending a rally that started with a Q2 2026 earnings and guidance beat and a string of analyst price-target increases. These are the verified facts as reported. Whether shares break to a new high or consolidate may depend on whether underlying instrument and consumable demand can keep growing once the boost from this quarter's one-time patent settlement revenue fades.