SVB Leerink Increases NeoGenomics (NASDAQ:NEO) Price Target to $50.00
NeoGenomics (NASDAQ:NEO) had its price objective upped by SVB Leerink from $47.00 to $50.00 in a report issued on Friday, The Fly reports. They currently have an outperform rating on the medical research company’s stock. SVB Leerink also issued estimates for NeoGenomics’ Q1 2021 earnings at $0.03 EPS, Q2 2021 earnings at $0.05 EPS, Q3 2021 earnings at $0.07 EPS and Q4 2021 earnings at $0.08 EPS.
Several other analysts also recently weighed in on the stock. CIBC raised shares of NeoGenomics to an outperformer rating and boosted their price target for the stock from $10.50 to $14.50 in a research note on Monday, October 26th. ValuEngine cut shares of NeoGenomics from a buy rating to a hold rating in a research report on Monday, November 2nd. Craig Hallum boosted their price objective on shares of NeoGenomics from $42.00 to $50.00 and gave the company a buy rating in a research report on Wednesday, October 28th. Benchmark boosted their price objective on shares of NeoGenomics from $40.00 to $48.00 and gave the company a buy rating in a research report on Wednesday, October 28th. Finally, Guggenheim began coverage on shares of NeoGenomics in a research report on Friday, August 28th. They issued a buy rating and a $46.00 price objective on the stock. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $40.96.
NeoGenomics stock opened at $44.77 on Friday. The company has a quick ratio of 6.22, a current ratio of 6.54 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $4.97 billion, a PE ratio of -1,491.84 and a beta of 0.68. The firm has a fifty day simple moving average of $40.85 and a two-hundred day simple moving average of $35.29. NeoGenomics has a twelve month low of $20.47 and a twelve month high of $45.00.
NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Tuesday, October 27th. The medical research company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. The business had revenue of $125.40 million during the quarter, compared to the consensus estimate of $126.23 million. NeoGenomics had a negative net margin of 1.16% and a positive return on equity of 0.71%. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 earnings per share.
In related news, Director Bruce K. Crowther sold 8,333 shares of the business’s stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $35.01, for a total transaction of $291,738.33. Following the transaction, the director now owns 46,483 shares in the company, valued at $1,627,369.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven C. Jones sold 10,426 shares of the company’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $36.13, for a total transaction of $376,691.38. Following the completion of the sale, the director now owns 197,932 shares in the company, valued at approximately $7,151,283.16. The disclosure for this sale can be found here. Insiders have sold 797,902 shares of company stock worth $31,665,001 in the last quarter. 6.50% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Cullen Frost Bankers Inc. purchased a new stake in NeoGenomics in the second quarter worth about $31,000. Valeo Financial Advisors LLC grew its holdings in NeoGenomics by 150.0% in the third quarter. Valeo Financial Advisors LLC now owns 1,000 shares of the medical research company’s stock worth $37,000 after purchasing an additional 600 shares during the period. Fiduciary Planning LLC purchased a new stake in NeoGenomics in the third quarter worth about $41,000. FinTrust Capital Advisors LLC grew its holdings in NeoGenomics by 27.0% in the third quarter. FinTrust Capital Advisors LLC now owns 1,270 shares of the medical research company’s stock worth $47,000 after purchasing an additional 270 shares during the period. Finally, Flagship Harbor Advisors LLC grew its holdings in NeoGenomics by 48.0% in the third quarter. Flagship Harbor Advisors LLC now owns 1,310 shares of the medical research company’s stock worth $48,000 after purchasing an additional 425 shares during the period. Institutional investors and hedge funds own 91.67% of the company’s stock.
NeoGenomics Company Profile
NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States, as well as laboratories in Switzerland and Singapore. It operates in two segments, Clinical Services and Pharma Services. The company’s laboratories provide genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, pharmaceutical firms, academic centers, and other clinical laboratories.
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