Stephens Issues Positive Forecast for NeoGenomics (NASDAQ:NEO) Stock Price

Key Points

• Stephens has raised its price target for NeoGenomics from $6.50 to $11.00, indicating a potential upside of 25.28% from the current closing price.
• According to MarketBeat, a consensus of investment analysts rates NeoGenomics as a "Hold" with a consensus price target of $13.22.
• Institutional investors hold a significant 98.50% of NeoGenomics stock, with notable increases in holdings from firms like First Light Asset Management and Greenhouse Funds.

NeoGenomics (NASDAQ:NEO - Get Free Report) had its price target boosted by equities research analysts at Stephens from $6.50 to $11.00 in a research report issued on Tuesday, MarketBeat.com reports. The brokerage currently has an "overweight" rating on the medical research company's stock. Stephens' price objective points to a potential upside of 37.84% from the stock's current price.

Several other equities research analysts also recently weighed in on NEO. Piper Sandler set a $11.00 price target on shares of NeoGenomics and gave the company an "overweight" rating in a research note on Monday, August 4th. Wall Street Zen upgraded NeoGenomics from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Morgan Stanley set a $8.00 price target on NeoGenomics and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Guggenheim began coverage on NeoGenomics in a research note on Thursday, May 15th. They issued a "neutral" rating for the company. Finally, BTIG Research restated a "neutral" rating on shares of NeoGenomics in a report on Wednesday, July 30th. Five investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $13.22.

NeoGenomics Trading Down 1.0%

Shares of NEO traded down $0.08 during trading hours on Tuesday, hitting $7.98. 3,604,677 shares of the stock were exchanged, compared to its average volume of 2,380,706. NeoGenomics has a fifty-two week low of $4.72 and a fifty-two week high of $19.11. The business has a 50-day moving average of $6.71 and a 200-day moving average of $8.03. The firm has a market capitalization of $1.03 billion, a P/E ratio of -9.85 and a beta of 1.62. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.92 and a quick ratio of 3.58.

Institutional Trading of NeoGenomics

Several hedge funds have recently made changes to their positions in NEO. CWM LLC lifted its holdings in shares of NeoGenomics by 42.6% in the first quarter. CWM LLC now owns 6,299 shares of the medical research company's stock worth $60,000 after buying an additional 1,883 shares in the last quarter. Moors & Cabot Inc. increased its holdings in NeoGenomics by 20.0% during the 2nd quarter. Moors & Cabot Inc. now owns 12,000 shares of the medical research company's stock worth $88,000 after acquiring an additional 2,000 shares during the period. State of Tennessee Department of Treasury lifted its stake in NeoGenomics by 3.6% in the 2nd quarter. State of Tennessee Department of Treasury now owns 58,082 shares of the medical research company's stock worth $425,000 after purchasing an additional 2,039 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in NeoGenomics by 3.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 65,004 shares of the medical research company's stock worth $475,000 after purchasing an additional 2,238 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in NeoGenomics by 7.6% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,041 shares of the medical research company's stock valued at $242,000 after purchasing an additional 2,323 shares during the period. 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.