Benchmark Boosts NeoGenomics (NASDAQ:NEO) Price Target to $40.00

NeoGenomics (NASDAQ:NEO) had its target price boosted by Benchmark from $35.00 to $40.00 in a research report sent to investors on Wednesday morning, The Fly reports. The brokerage currently has a buy rating on the medical research company’s stock.

A number of other equities analysts have also recently weighed in on the company. BidaskClub upgraded NeoGenomics from a buy rating to a strong-buy rating in a report on Friday, July 3rd. Zacks Investment Research upgraded NeoGenomics from a hold rating to a buy rating and set a $41.00 price target for the company in a report on Wednesday. SVB Leerink restated a buy rating and issued a $35.00 price target (up previously from $33.00) on shares of NeoGenomics in a report on Wednesday, April 29th. Bank of America began coverage on NeoGenomics in a report on Thursday, June 25th. They issued a buy rating and a $34.00 price target for the company. Finally, CIBC cut NeoGenomics to a neutral rating and decreased their price target for the stock from $11.00 to $9.00 in a report on Friday, May 15th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $35.80.

NEO traded down $0.11 on Wednesday, reaching $38.23. 756,825 shares of the company’s stock were exchanged, compared to its average volume of 760,684. The company’s 50 day moving average is $32.69 and its 200-day moving average is $29.86. The company has a market cap of $4.03 billion, a price-to-earnings ratio of -764.60 and a beta of 0.76. NeoGenomics has a twelve month low of $18.52 and a twelve month high of $38.74. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.88 and a current ratio of 6.79.

NeoGenomics (NASDAQ:NEO) last posted its earnings results on Tuesday, July 28th. The medical research company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.06. The firm had revenue of $86.90 million during the quarter, compared to the consensus estimate of $86.55 million. NeoGenomics had a negative net margin of 1.33% and a positive return on equity of 0.73%. The company’s revenue was down 14.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 EPS. Sell-side analysts forecast that NeoGenomics will post -0.1 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in NEO. C M Bidwell & Associates Ltd. bought a new position in NeoGenomics during the first quarter worth $30,000. Carroll Financial Associates Inc. bought a new position in NeoGenomics during the second quarter worth $31,000. Global Retirement Partners LLC lifted its stake in NeoGenomics by 27.1% during the first quarter. Global Retirement Partners LLC now owns 2,110 shares of the medical research company’s stock worth $58,000 after purchasing an additional 450 shares during the last quarter. Jacobi Capital Management LLC lifted its stake in NeoGenomics by 70.1% during the second quarter. Jacobi Capital Management LLC now owns 3,401 shares of the medical research company’s stock worth $62,000 after purchasing an additional 1,401 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC lifted its stake in NeoGenomics by 108.3% during the second quarter. Prime Capital Investment Advisors LLC now owns 2,083 shares of the medical research company’s stock worth $65,000 after purchasing an additional 1,083 shares during the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.

About NeoGenomics

NeoGenomics, Inc, together with its subsidiaries, operates a network of cancer-focused genetic testing laboratories in the United States; and 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.

Read More: Outstanding Shares, Buying and Selling Stocks

The Fly

Analyst Recommendations for NeoGenomics (NASDAQ:NEO)

Receive News & Ratings for NeoGenomics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NeoGenomics and related companies with MarketBeat.com's FREE daily email newsletter.