NeoGenomics (NASDAQ:NEO) Upgraded by Leerink Partners to Outperform Rating

Key Points

• Leerink Partners upgraded NeoGenomics from "market perform" to "outperform" and raised its price target to $25 (from $12), implying roughly a 163% upside from the current price.
• NeoGenomics reported Q1 EPS of $0.01 (in line) and revenue of $186.67M (above estimates) with revenue up 11.3% year-over-year, but it remains unprofitable (net margin -14.85%) and the consensus analyst rating is still a "Hold" with an average target of $13.43.

NeoGenomics (NASDAQ:NEO - Get Free Report) was upgraded by stock analysts at Leerink Partners from a "market perform" rating to an "outperform" rating in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm currently has a $25.00 target price on the medical research company's stock, up from their previous target price of $12.00. Leerink Partners' price target would indicate a potential upside of 163.24% from the company's current price.

Several other equities analysts have also recently issued reports on NEO. William Blair reaffirmed a "market perform" rating on shares of NeoGenomics in a research report on Monday, March 16th. Zacks Research lowered NeoGenomics from a "strong-buy" rating to a "hold" rating in a report on Friday, February 20th. Needham & Company LLC boosted their price target on NeoGenomics from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Tuesday, February 17th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NeoGenomics in a report on Friday, March 27th. Finally, UBS Group reaffirmed a "hold" rating on shares of NeoGenomics in a research report on Wednesday, February 18th. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $13.43.

NeoGenomics Stock Up 5.3%

NASDAQ:NEO opened at $9.50 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.94 and a current ratio of 4.26. The firm has a market cap of $1.24 billion, a P/E ratio of -11.39 and a beta of 1.72. NeoGenomics has a fifty-two week low of $4.72 and a fifty-two week high of $13.74. The firm has a 50-day simple moving average of $8.50 and a two-hundred day simple moving average of $10.45.

NeoGenomics (NASDAQ:NEO - Get Free Report) last issued its earnings results on Tuesday, April 28th. The medical research company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $186.67 million for the quarter, compared to the consensus estimate of $184.53 million. NeoGenomics had a negative net margin of 14.85% and a negative return on equity of 3.10%. The business's quarterly revenue was up 11.3% on a year-over-year basis. Analysts predict that NeoGenomics will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NeoGenomics

Large investors have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd lifted its holdings in shares of NeoGenomics by 42.5% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 3,341 shares of the medical research company's stock valued at $26,000 after buying an additional 997 shares during the period. First Horizon Corp grew its holdings in shares of 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 acquiring an additional 865 shares during the period. Headlands Technologies LLC bought a new stake in shares of NeoGenomics in the second quarter worth $32,000. Caitong International Asset Management Co. Ltd increased its position in NeoGenomics by 110.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,968 shares of the medical research company's stock valued at $35,000 after acquiring an additional 1,556 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new position in NeoGenomics in the fourth quarter valued at about $39,000. Institutional investors own 98.50% of the company's stock.

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.

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