BTIG Research Trims NeoGenomics (NASDAQ:NEO) Target Price to $21.00

NeoGenomics (NASDAQ:NEO) had its target price lowered by BTIG Research from $23.00 to $21.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the medical research company’s stock. BTIG Research’s price target would indicate a potential upside of 46.96% from the stock’s current price.

Other research analysts also recently issued reports about the company. The Goldman Sachs Group increased their price objective on NeoGenomics from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Craig Hallum initiated coverage on shares of NeoGenomics in a report on Wednesday. They issued a “buy” rating and a $26.00 price objective on the stock. William Blair restated an “outperform” rating on shares of NeoGenomics in a report on Wednesday, February 21st. Piper Sandler raised their target price on shares of NeoGenomics from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, February 26th. Finally, TD Cowen cut their price target on shares of NeoGenomics from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.78.

NeoGenomics Trading Up 2.4 %

NASDAQ:NEO traded up $0.33 on Thursday, hitting $14.29. 370,398 shares of the stock were exchanged, compared to its average volume of 925,833. The company has a debt-to-equity ratio of 0.58, a quick ratio of 5.95 and a current ratio of 7.48. NeoGenomics has a 52 week low of $11.03 and a 52 week high of $21.22. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of -21.61 and a beta of 1.12. The company’s 50-day moving average price is $14.99 and its 200 day moving average price is $15.96.

NeoGenomics (NASDAQ:NEO) last posted its earnings results on Tuesday, February 20th. The medical research company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.05. NeoGenomics had a negative return on equity of 3.54% and a negative net margin of 13.79%. The firm had revenue of $155.55 million for the quarter, compared to analyst estimates of $152.90 million. On average, equities research analysts forecast that NeoGenomics will post -0.2 earnings per share for the current year.

Insider Activity at NeoGenomics

In related news, General Counsel Alicia C. Olivo sold 2,587 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $14.96, for a total value of $38,701.52. Following the completion of the sale, the general counsel now directly owns 34,866 shares in the company, valued at $521,595.36. The sale was disclosed in a filing with the SEC, which is available at this link. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NeoGenomics

Several institutional investors and hedge funds have recently added to or reduced their stakes in NEO. Redwood Investments LLC bought a new stake in shares of NeoGenomics during the 4th quarter valued at approximately $2,399,000. Aigen Investment Management LP bought a new position in NeoGenomics during the third quarter worth $163,000. Legato Capital Management LLC bought a new position in NeoGenomics during the fourth quarter worth $401,000. Illinois Municipal Retirement Fund bought a new position in NeoGenomics during the third quarter worth $960,000. Finally, Brown Advisory Inc. raised its stake in NeoGenomics by 25.0% during the third quarter. Brown Advisory Inc. now owns 8,246,202 shares of the medical research company’s stock worth $101,428,000 after buying an additional 1,651,717 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

NeoGenomics Company Profile

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States and the United Kingdom. It operates through Clinical Services and Advanced Diagnostics segments. The company offers testing services to hospitals, academic centers, pathologists, oncologists, clinicians, pharmaceutical companies, and clinical laboratories.