NeoGenomics (NASDAQ:NEO) Hits New 12-Month High After Analyst Upgrade

Key Points

• NeoGenomics shares reached a new 52-week high after Needham raised its price target from $19 to $22 and maintained a Buy rating. The stock traded as high as $20.17, while analysts collectively assign it a “Moderate Buy” rating.
• The company reported stronger-than-expected recent results, with quarterly revenue of $201.66 million and earnings per share of $0.05, exceeding analyst estimates; revenue increased 11.2% year over year.
• NeoGenomics issued third-quarter 2026 revenue guidance of $209 million, above consensus, while naming Warren Stone as its next CEO under a leadership succession plan that could introduce near-term execution uncertainty.

NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday after Needham & Company LLC raised their price target on the stock from $19.00 to $22.00. Needham & Company LLC currently has a buy rating on the stock. NeoGenomics traded as high as $20.17 and last traded at $19.77, with a volume of 56031 shares. The stock had previously closed at $19.13.

Several other equities research analysts also recently commented on the stock. Craig Hallum reissued a "buy" rating and set a $19.00 target price on shares of NeoGenomics in a research report on Wednesday, July 29th. TD Cowen reissued a "buy" rating on shares of NeoGenomics in a research note on Wednesday, July 15th. Zacks Research downgraded NeoGenomics from a "strong-buy" rating to a "hold" rating in a report on Monday, September 28th. Benchmark lifted their price objective on shares of NeoGenomics from $11.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Finally, Weiss Ratings raised shares of NeoGenomics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, July 14th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, NeoGenomics has a consensus rating of "Moderate Buy" and a consensus price target of $18.17.

NeoGenomics News Summary

Here are the key news stories impacting NeoGenomics this week:

• Positive Sentiment: Needham & Company raised its price target for NeoGenomics (NEO) to $22 from $19 and upgraded the stock to “Buy,” implying approximately 15% upside from the referenced share price. The upgrade provides additional support for the stock’s recent rally. NeoGenomics Stock Price Target Raised at Needham & Company LLC
• Positive Sentiment: NeoGenomics issued third-quarter 2026 revenue guidance of $209 million, above the $205.8 million analyst consensus. The outlook suggests better-than-expected near-term operating performance. NeoGenomics Names Warren Stone as Next CEO; Reports Q3 Revenue Guidance
• Positive Sentiment: Full-year 2026 revenue guidance of $802 million to $806 million brackets the $803.8 million consensus estimate, indicating that management continues to expect solid growth broadly in line with Wall Street forecasts.
• Positive Sentiment: Wall Street analysts collectively rate NEO a “Moderate Buy,” reinforcing the generally favorable view of the company’s growth prospects. NeoGenomics Stock Rated Moderate Buy by Wall Street Analysts
• Negative Sentiment: NeoGenomics announced that Warren Stone will become its next chief executive as part of an executive leadership and board succession plan. Although an orderly transition can support long-term strategy, the change initially pressured the stock because investors face uncertainty over future execution and priorities. NeoGenomics Announces Executive Leadership and Board of Directors Succession Plan

Hedge Funds Weigh In On NeoGenomics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEO. Allworth Financial LP lifted its stake in shares of NeoGenomics by 110.4% during the 2nd quarter. Allworth Financial LP now owns 4,132 shares of the medical research company's stock valued at $60,000 after buying an additional 2,168 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in NeoGenomics in the 2nd quarter worth about $99,000. MQS Management LLC bought a new stake in shares of NeoGenomics during the first quarter valued at about $75,000. Stephens Inc. AR purchased a new stake in shares of NeoGenomics in the first quarter worth about $143,000. Finally, NewEdge Advisors LLC purchased a new position in NeoGenomics during the second quarter valued at approximately $296,000. Institutional investors own 98.50% of the company's stock.

NeoGenomics Stock Up 0.8%

The firm has a market capitalization of $2.48 billion, a PE ratio of -48.07 and a beta of 1.79. The company's 50 day simple moving average is $17.39 and its 200-day simple moving average is $12.88. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.35 and a current ratio of 3.60.

NeoGenomics (NASDAQ:NEO - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The medical research company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02. The firm had revenue of $201.66 million for the quarter, compared to analysts' expectations of $196.93 million. NeoGenomics had a negative return on equity of 1.99% and a negative net margin of 6.77%.The company's revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 EPS. On average, analysts forecast that NeoGenomics, Inc. will post -0.09 EPS for the current fiscal year.

About NeoGenomics

NeoGenomics, Inc NASDAQ: NEO is a specialized oncology diagnostics company that provides testing services to hospitals, physicians, pathologists, pharmaceutical companies and other healthcare organizations. Its services support the diagnosis, classification and monitoring of cancer, helping guide treatment decisions and drug development.

The company offers a broad range of pathology and laboratory services, including molecular testing, next-generation sequencing, fluorescence in situ hybridization, cytogenetics, flow cytometry, immunohistochemistry and digital pathology.

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