NeoGenomics (NASDAQ:NEO) Raised to “Buy” at Wall Street Zen

NeoGenomics (NASDAQ:NEO) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Sunday, Wall Street Zen reports.

Several other analysts also recently weighed in on the stock. Benchmark lifted their target price on shares of NeoGenomics from $11.00 to $16.00 and gave the company a “buy” rating in a report on Friday, July 24th. Piper Sandler reissued an “overweight” rating on shares of NeoGenomics in a report on Wednesday, October 7th. Craig Hallum reissued a “buy” rating and set a $19.00 price target on shares of NeoGenomics in a report on Wednesday, July 29th. Weiss Ratings restated a “sell (d-)” rating on shares of NeoGenomics in a research report on Monday, October 12th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $21.00 price objective on shares of NeoGenomics in a report on Thursday, October 29th. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.88.

NeoGenomics Stock Performance

NeoGenomics stock opened at $17.60 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.31 and a current ratio of 3.53. The business has a 50 day simple moving average of $17.63 and a 200-day simple moving average of $12.94. NeoGenomics has a 12 month low of $7.07 and a 12 month high of $20.15.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Wednesday, October 28th. The medical research company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The firm had revenue of $209.25 million for the quarter, compared to analyst estimates of $206.70 million. NeoGenomics had a negative net margin of 4.10% and a negative return on equity of 0.99%. NeoGenomics’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the firm posted $0.03 EPS. Equities research analysts anticipate that NeoGenomics will post -0.06 EPS for the current year.

Institutional Investors Weigh In On NeoGenomics

A number of hedge funds and other institutional investors have recently bought and sold shares of NEO. Intech Investment Management LLC grew its stake in shares of NeoGenomics by 356.7% during the 3rd quarter. Intech Investment Management LLC now owns 119,248 shares of the medical research company’s stock worth $2,189,000 after purchasing an additional 93,138 shares during the period. White Pine Capital LLC purchased a new position in shares of NeoGenomics in the 3rd quarter valued at about $2,712,000. Allworth Financial LP increased its holdings in shares of NeoGenomics by 53.9% in the 3rd quarter. Allworth Financial LP now owns 6,361 shares of the medical research company’s stock valued at $117,000 after purchasing an additional 2,229 shares in the last quarter. Maryland State Retirement & Pension System increased its holdings in shares of NeoGenomics by 51.7% in the 3rd quarter. Maryland State Retirement & Pension System now owns 28,451 shares of the medical research company’s stock valued at $522,000 after purchasing an additional 9,700 shares in the last quarter. Finally, Lisanti Capital Growth LLC acquired a new stake in shares of NeoGenomics in the third quarter valued at about $1,362,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

About NeoGenomics

NeoGenomics is a cancer-focused diagnostics company that provides laboratory testing and related services to physicians, hospitals, pharmaceutical companies and other healthcare organizations. Its clinical testing helps support the diagnosis and treatment of cancer.

The company offers a range of oncology tests, including molecular, cytogenetic, pathology and flow cytometry services. Its capabilities also include next-generation sequencing and liquid biopsy testing, which can help clinicians assess tumor characteristics and inform treatment decisions.

Founded in 2001, NeoGenomics also provides services to pharmaceutical and biotechnology companies, including support for clinical trials and cancer research.