NeoGenomics (NASDAQ:NEO) Given a $11.00 Price Target by Piper Sandler Analysts

Key Points

• Piper Sandler has decreased its price target for NeoGenomics from $12.00 to $11.00, maintaining an "overweight" rating, which indicates a potential upside of 100.62% from the current stock price.
• NeoGenomics shares recently saw a 6.3% increase during trading hours, reaching $5.48, with the company having a market capitalization of $708.29 million.
• Insider activity is notable, with CEO Anthony P. Zook purchasing 18,900 shares valued at approximately $148,932, reflecting increased insider confidence in the company.

NeoGenomics (NASDAQ:NEO - Get Free Report) has been given a $11.00 price objective by equities researchers at Piper Sandler in a research report issued on Monday, Marketbeat Ratings reports. The brokerage presently has an "overweight" rating on the medical research company's stock. Piper Sandler's target price suggests a potential upside of 93.15% from the company's previous close.

A number of other research firms also recently issued reports on NEO. Guggenheim started coverage on NeoGenomics in a report on Thursday, May 15th. They issued a "neutral" rating for the company. Morgan Stanley set a $8.00 price target on shares of NeoGenomics and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Leerink Partnrs downgraded NeoGenomics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Leerink Partners downgraded shares of NeoGenomics from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $25.00 to $9.00 in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group decreased their price objective on shares of NeoGenomics from $15.00 to $10.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $12.75.

NeoGenomics Stock Down 1.1%

NEO stock traded down $0.07 during mid-day trading on Monday, reaching $5.70. 312,986 shares of the company traded hands, compared to its average volume of 1,952,823. The company has a quick ratio of 3.58, a current ratio of 3.92 and a debt-to-equity ratio of 0.40. The firm's 50 day moving average price is $6.85 and its 200 day moving average price is $9.07. NeoGenomics has a fifty-two week low of $4.72 and a fifty-two week high of $19.11. The stock has a market cap of $735.67 million, a price-to-earnings ratio of -7.04 and a beta of 1.54.

Insider Buying and Selling

In other NeoGenomics news, COO Warren Stone bought 5,700 shares of the stock in a transaction dated Monday, May 12th. The shares were acquired at an average cost of $8.58 per share, for a total transaction of $48,906.00. Following the completion of the transaction, the chief operating officer owned 108,280 shares in the company, valued at approximately $929,042.40. The trade was a 5.56% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Aaron Kelly purchased 5,000 shares of NeoGenomics stock in a transaction that occurred on Tuesday, May 27th. The stock was acquired at an average price of $7.60 per share, with a total value of $38,000.00. Following the transaction, the director owned 5,000 shares in the company, valued at $38,000. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.40% of the stock is currently owned by insiders.

Institutional Trading of NeoGenomics

Several institutional investors and hedge funds have recently added to or reduced their stakes in NEO. Sterling Capital Management LLC raised its position in NeoGenomics by 788.7% during the 4th quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company's stock worth $61,000 after buying an additional 3,289 shares during the last quarter. Brooklyn Investment Group purchased a new stake in NeoGenomics in the 1st quarter valued at approximately $35,000. CWM LLC increased its position in NeoGenomics by 42.6% during the 1st quarter. CWM LLC now owns 6,299 shares of the medical research company's stock worth $60,000 after purchasing an additional 1,883 shares during the period. AlphaQuest LLC purchased a new position in shares of NeoGenomics during the 1st quarter worth approximately $60,000. Finally, Moors & Cabot Inc. acquired a new stake in shares of NeoGenomics in the 1st quarter valued at approximately $95,000. 98.50% of the stock is owned by hedge funds and other 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.