Benchmark Forecasts Strong Price Appreciation for NeoGenomics (NASDAQ:NEO) Stock

Key Points

• Benchmark raised its price target on NeoGenomics from $11 to $16 while keeping a buy rating, implying about 12.36% upside from the previous close.
• Analyst sentiment remains mixed but constructive overall: NeoGenomics now has six Buy ratings, five Holds, and one Sell, with an average Wall Street target of $14.57.
• The company recently met EPS expectations at $0.01 and beat revenue estimates with $186.67 million, while revenue rose 11.3% year over year.

NeoGenomics (NASDAQ:NEO - Get Free Report) had its target price hoisted by research analysts at Benchmark from $11.00 to $16.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the medical research company's stock. Benchmark's price objective would suggest a potential upside of 12.36% from the stock's previous close.

Other equities analysts also recently issued research reports about the company. TD Cowen reiterated a "buy" rating on shares of NeoGenomics in a report on Wednesday, July 15th. Leerink Partners upgraded NeoGenomics from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $12.00 to $25.00 in a research note on Wednesday, April 29th. Weiss Ratings raised NeoGenomics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 14th. Finally, Wall Street Zen upgraded shares of NeoGenomics from a "hold" rating to a "buy" rating in a research note on Saturday, June 27th. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $14.57.

NeoGenomics Stock Performance

Shares of NASDAQ NEO opened at $14.24 on Friday. The stock has a fifty day moving average price of $12.08 and a two-hundred day moving average price of $10.63. NeoGenomics has a 1 year low of $4.72 and a 1 year high of $15.57. The firm has a market cap of $1.85 billion, a P/E ratio of -18.49 and a beta of 1.74. The company has a debt-to-equity ratio of 0.41, a quick ratio of 4.06 and a current ratio of 4.42.

NeoGenomics (NASDAQ:NEO - Get Free Report) last released its earnings results on Tuesday, April 28th. The medical research company reported $0.01 EPS for the quarter, hitting analysts' consensus estimates of $0.01. The business had revenue of $186.67 million for the quarter, compared to the consensus estimate of $184.54 million. NeoGenomics had a negative net margin of 13.30% and a negative return on equity of 2.80%. The firm's revenue was up 11.3% compared to the same quarter last year. Research analysts forecast that NeoGenomics will post -0.15 EPS for the current fiscal year.

Insider Buying and Selling

In other NeoGenomics news, Director Lynn A. Tetrault sold 5,307 shares of the business's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $11.29, for a total value of $59,916.03. Following the sale, the director owned 91,422 shares of the company's stock, valued at $1,032,154.38. The trade was a 5.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NeoGenomics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEO. First Horizon Corp boosted its stake in NeoGenomics by 52.6% in the fourth quarter. First Horizon Corp now owns 2,509 shares of the medical research company's stock worth $30,000 after purchasing an additional 865 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of NeoGenomics in the second quarter valued at about $32,000. Caitong International Asset Management Co. Ltd lifted its position in NeoGenomics by 110.2% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,968 shares of the medical research company's stock worth $35,000 after buying an additional 1,556 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in NeoGenomics during the 4th quarter worth about $39,000. Finally, GAMMA Investing LLC grew its holdings in NeoGenomics by 68.2% during the 4th quarter. GAMMA Investing LLC now owns 3,602 shares of the medical research company's stock worth $42,000 after acquiring an additional 1,460 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

About NeoGenomics

NeoGenomics, traded on the Nasdaq under the symbol NEO, is a leading provider of cancer-focused genetic and molecular testing services. Headquartered in Fort Myers, Florida, the company operates an integrated network of CAP-accredited and CLIA-certified laboratories across the United States, Europe and Asia. NeoGenomics delivers diagnostic insights that support oncologists, pathologists and healthcare institutions in the detection, prognosis and treatment of hematologic and solid tumor cancers.

The company's core service offerings include flow cytometry, immunohistochemistry, fluorescence in situ hybridization (FISH), karyotyping and advanced molecular assays such as next-generation sequencing (NGS) panels and polymerase chain reaction (PCR) tests.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.