NeoGenomics (NASDAQ:NEO)‘s stock had its “buy” rating reissued by equities researchers at BTIG Research in a research report issued to clients and investors on Thursday, June 21st. They currently have a $15.00 target price on the medical research company’s stock. BTIG Research’s target price suggests a potential upside of 14.42% from the company’s previous close.
The analysts wrote, “Raising Our PT Earlier this week, we hosted investor meetings with Chairman and CEO Bill Bonello. The general tone was upbeat with majority of the discussions focused on the oncology market opportunity, competitive landscape given recent M&A and use of cash. We felt the overarching theme was the breadth of NEO’s testing capabilities being a competitive differentiator particularly on the clinical trial side. The recently announced agreement with PPD (Private) to be the chief oncology provider would be upside to our current estimates. We are increasing our target EV/sales multiple and PT to $15 (from $11) on increased confidence in Pharma Services, and continued market share capture of clinical testing. Additionally, as NEO moves upstream into higher-end testing, we feel its multiple should more closely match those of specialty cancer testing peers.””
Several other equities analysts also recently issued reports on NEO. Canaccord Genuity upped their price objective on shares of NeoGenomics from $23.00 to $24.00 in a research note on Tuesday, March 13th. BidaskClub raised shares of NeoGenomics from a “hold” rating to a “buy” rating in a research note on Wednesday, April 18th. ValuEngine raised shares of NeoGenomics from a “hold” rating to a “buy” rating in a research report on Tuesday, April 17th. First Analysis lowered shares of NeoGenomics from an “overweight” rating to an “equal weight” rating and set a $11.00 price objective for the company. in a research report on Wednesday, May 2nd. Finally, Zacks Investment Research upgraded shares of NeoGenomics from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. NeoGenomics has a consensus rating of “Buy” and an average target price of $17.50.
NeoGenomics opened at $13.11 on Thursday, MarketBeat Ratings reports. The firm has a market cap of $1.07 billion, a PE ratio of 221.17, a PEG ratio of 6.32 and a beta of 0.48. NeoGenomics has a 12-month low of $7.08 and a 12-month high of $14.18. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.03 and a quick ratio of 1.85.
NeoGenomics (NASDAQ:NEO) last announced its quarterly earnings results on Tuesday, May 1st. The medical research company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The firm had revenue of $63.40 million during the quarter, compared to analysts’ expectations of $62.31 million. NeoGenomics had a negative net margin of 0.86% and a positive return on equity of 3.19%. NeoGenomics’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 earnings per share. sell-side analysts forecast that NeoGenomics will post 0.11 earnings per share for the current year.
In related news, EVP Steven C. Jones sold 114,300 shares of the firm’s stock in a transaction that occurred on Tuesday, May 29th. The shares were sold at an average price of $11.67, for a total transaction of $1,333,881.00. Following the completion of the sale, the executive vice president now directly owns 234,918 shares in the company, valued at $2,741,493.06. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Jennifer Balliet sold 13,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $11.24, for a total transaction of $146,120.00. Following the sale, the vice president now owns 13,000 shares of the company’s stock, valued at $146,120. The disclosure for this sale can be found here. Insiders sold a total of 708,707 shares of company stock worth $8,692,086 in the last ninety days. Corporate insiders own 12.20% of the company’s stock.
Large investors have recently modified their holdings of the company. Quantitative Systematic Strategies LLC acquired a new stake in shares of NeoGenomics in the 1st quarter valued at $100,000. Campbell & CO Investment Adviser LLC lifted its position in NeoGenomics by 64.3% during the 1st quarter. Campbell & CO Investment Adviser LLC now owns 17,127 shares of the medical research company’s stock valued at $140,000 after purchasing an additional 6,700 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in NeoGenomics during the 1st quarter valued at about $152,000. Teacher Retirement System of Texas acquired a new position in NeoGenomics during the 4th quarter valued at about $182,000. Finally, MetLife Investment Advisors LLC acquired a new position in NeoGenomics during the 4th quarter valued at about $235,000. Institutional investors own 83.26% of the company’s stock.
NeoGenomics, Inc, together with its subsidiaries, operates a network of cancer-focused genetic testing laboratories in the United States. It operates through Clinical Services and Pharma Services segments. The company laboratories provide genetic and molecular testing services to hospitals, pathologists, oncologists, urologists, other clinicians and researchers, pharmaceutical firms, and other clinical laboratories.
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