BTIG Research Lowers NeoGenomics (NASDAQ:NEO) Price Target to $28.00
Several other brokerages have also weighed in on NEO. Bank of America lowered NeoGenomics from a buy rating to a neutral rating and cut their target price for the stock from $25.00 to $18.00 in a research report on Tuesday. Needham & Company LLC dropped their price target on NeoGenomics from $29.00 to $19.00 and set a buy rating for the company in a research note on Tuesday. Cowen assumed coverage on NeoGenomics in a research note on Thursday, December 16th. They set an outperform rating and a $42.00 price target for the company. Stephens lowered NeoGenomics from an overweight rating to an equal weight rating and dropped their price target for the stock from $34.00 to $16.00 in a research note on Tuesday. Finally, Craig Hallum dropped their price target on NeoGenomics from $46.00 to $30.00 in a research note on Thursday, February 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Buy and a consensus target price of $25.36.
Shares of NASDAQ NEO opened at $12.38 on Tuesday. NeoGenomics has a 1 year low of $11.00 and a 1 year high of $54.74. The firm’s 50 day moving average price is $19.12 and its 200 day moving average price is $31.48. The firm has a market cap of $1.54 billion, a P/E ratio of -112.54 and a beta of 0.84. The company has a debt-to-equity ratio of 0.48, a quick ratio of 7.54 and a current ratio of 7.81.
NeoGenomics (NASDAQ:NEO – Get Rating) last announced its earnings results on Wednesday, February 23rd. The medical research company reported ($0.14) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.03. NeoGenomics had a negative net margin of 1.72% and a negative return on equity of 4.17%. The firm had revenue of $125.73 million for the quarter, compared to analyst estimates of $125.77 million. During the same quarter last year, the business earned $0.12 earnings per share. NeoGenomics’s revenue was down .2% compared to the same quarter last year. As a group, equities analysts predict that NeoGenomics will post -0.66 EPS for the current year.
In other news, CFO William Bonello sold 3,209 shares of the company’s stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $18.29, for a total value of $58,692.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.70% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of NEO. Quadrant Capital Group LLC boosted its holdings in NeoGenomics by 56.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,826 shares of the medical research company’s stock valued at $62,000 after purchasing an additional 662 shares during the last quarter. Destiny Wealth Partners LLC bought a new position in NeoGenomics during the 3rd quarter worth approximately $65,000. Archer Investment Corp lifted its holdings in NeoGenomics by 37.1% during the 3rd quarter. Archer Investment Corp now owns 1,350 shares of the medical research company’s stock worth $65,000 after buying an additional 365 shares during the last quarter. James Investment Research Inc. lifted its holdings in NeoGenomics by 47.5% during the 3rd quarter. James Investment Research Inc. now owns 1,550 shares of the medical research company’s stock worth $75,000 after buying an additional 499 shares during the last quarter. Finally, Lindbrook Capital LLC bought a new position in NeoGenomics during the 4th quarter worth approximately $84,000. 97.04% of the stock is owned by hedge funds and other institutional investors.
NeoGenomics Company Profile (Get Rating)
NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States, Europe, and Asia. It operates through, Clinical Services and Pharma Services segments. The company offers testing services to hospitals, reference labs, pathologists, oncologists, clinicians, pharmaceutical firms, and researchers.
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