10x Genomics, Inc. (NASDAQ: TXG) saw its stock soar 7.81% in pre-market trading on Friday, building on the momentum from its 5.47% after-hours gain on Thursday. The surge comes in response to the company's impressive second-quarter 2025 financial results, strategic acquisition announcement, and a series of analyst target price upgrades.

The biotechnology company significantly outperformed analyst expectations in Q2, reporting earnings of $0.28 per share, a remarkable turnaround from the $0.32 per share loss in the same period last year. Revenue also exceeded forecasts, coming in at $172.9 million, a 12.93% year-over-year increase and 24.02% above consensus estimates. The company achieved a robust gross margin of 72% and reported a net income of $34.5 million, demonstrating its ability to drive both top-line growth and profitability.

Adding to the positive sentiment, 10x Genomics announced plans to acquire Scale Biosciences, a move expected to enhance its single-cell analysis capabilities and potentially expand its market presence. The company also provided an optimistic outlook for Q3 2025, projecting revenue between $140 million and $144 million. In response to these developments, several analysts have raised their target prices for TXG stock, with Deutsche Bank increasing its target to $14 from $10, JP Morgan to $13 from $9, and Barclays to $15 from $13. This combination of strong financial performance, strategic expansion plans, positive future guidance, and analyst optimism has fueled investor enthusiasm, driving the stock's pre-market rally.