Canaccord Genuity increased its 12-month price objective on 10X Genomics Inc. to $22.00 from $20.00 and reaffirmed a Buy rating after the company released its fourth-quarter 2025 results. The firm said the move primarily reflects higher revenue assumptions in the back half of the 10-year discounted cash flow model used to value the genomics technology company.
The price-target revision follows 10X Genomics’ Q4 2025 report, which the company filed after market close on Thursday and which matched the preliminary announcement made on January 11. Canaccord described the quarter as "solid," pointing to robust growth in Chromium instrument placements and continued demand for consumables as key contributors to the performance.
Financial metrics cited alongside the analyst action include a current ratio of 4.48, an indication that the company’s liquid assets substantially exceed its short-term liabilities. InvestingPro data referenced by the coverage also shows 10X Genomics has returned 46.65% over the past year and appears slightly undervalued on Fair Value calculations, according to that dataset.
On guidance, 10X Genomics issued initial revenue expectations for 2026 that Canaccord characterized as generally consistent with FactSet consensus. The company framed its outlook on an assumption that macroeconomic conditions will resemble those experienced in the second half of 2025. Building on that, Canaccord projects low-single-digit top-line growth for 2026 when excluding a one-time revenue item recorded in 2025, and suggested the business may shift toward a steadier growth profile next year, potentially supported by a greater emphasis on the translational research end market.
InvestingPro data shows revenue at 10X Genomics increased 1.92% over the last twelve months. The research note also highlighted that analysts do not expect the company to reach profitability in the current year. For investors seeking deeper coverage, the company’s Pro Research Report is available within InvestingPro’s catalog of over 1,400 U.S. equities.
Operational results for the quarter exceeded analyst estimates. 10X Genomics posted an earnings per share (EPS) of -$0.13, ahead of the -$0.22 consensus, and reported revenue of $166 million versus expectations of $157.73 million. Despite the beats on both EPS and revenue, the stock declined during regular trading and registered a modest rebound in aftermarket session trading.
These outcomes illustrate that while 10X Genomics delivered results above analysts’ projections for the quarter, market reaction during regular hours was negative before the slight aftermarket recovery. The analyst price-target increase reflects the firm’s updated revenue trajectory in later years of its valuation and the company’s solid fourth-quarter operational indicators.
Sector implications
- Biotechnology and life sciences tools - demand for instruments and consumables drives near-term revenue.
- Health care research spending - translational research market focus may influence growth consistency.
- Equity markets - analyst revisions and quarterly beats can prompt intraday volatility despite positive fundamentals.