Analysts Set NeoGenomics, Inc. (NASDAQ:NEO) PT at $19.78

NeoGenomics, Inc. (NASDAQ:NEO) has received an average rating of “Moderate Buy” from the ten analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $19.78.

A number of equities analysts have issued reports on NEO shares. Needham & Company LLC lowered their target price on NeoGenomics from $24.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Benchmark reaffirmed a “buy” rating and issued a $18.00 target price on shares of NeoGenomics in a report on Wednesday, May 1st. Craig Hallum initiated coverage on NeoGenomics in a research note on Wednesday, May 1st. They issued a “buy” rating and a $26.00 price target for the company. BTIG Research decreased their price target on NeoGenomics from $23.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Finally, TD Cowen decreased their price target on NeoGenomics from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st.

NeoGenomics Trading Down 2.3 %

NeoGenomics stock opened at $13.40 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 7.48 and a quick ratio of 7.22. NeoGenomics has a 52 week low of $11.03 and a 52 week high of $21.22. The stock has a fifty day moving average of $14.03 and a 200-day moving average of $14.95.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, April 30th. The medical research company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). NeoGenomics had a negative return on equity of 3.54% and a negative net margin of 13.79%. The firm had revenue of $156.24 million during the quarter, compared to analyst estimates of $149.82 million. Equities research analysts forecast that NeoGenomics will post -0.21 EPS for the current fiscal year.

Institutional Investors Weigh In On NeoGenomics

Institutional investors and hedge funds have recently made changes to their positions in the business. Burkett Financial Services LLC bought a new stake in shares of NeoGenomics during the 4th quarter valued at about $46,000. Quadrant Capital Group LLC boosted its position in shares of NeoGenomics by 22.0% during the 4th quarter. Quadrant Capital Group LLC now owns 4,900 shares of the medical research company’s stock valued at $79,000 after purchasing an additional 883 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of NeoGenomics by 27.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,434 shares of the medical research company’s stock valued at $136,000 after purchasing an additional 1,791 shares in the last quarter. Banque Cantonale Vaudoise boosted its holdings in NeoGenomics by 6.6% in the first quarter. Banque Cantonale Vaudoise now owns 15,942 shares of the medical research company’s stock worth $251,000 after acquiring an additional 993 shares in the last quarter. Finally, White Pine Capital LLC bought a new position in NeoGenomics in the fourth quarter worth approximately $261,000. Institutional investors own 98.50% of the company’s stock.

About NeoGenomics

NeoGenomics, Inc operates a network of cancer-focused testing laboratories in the United States and the United Kingdom. It operates through Clinical Services and Advanced Diagnostics segments. The company offers testing services to hospitals, academic centers, pathologists, oncologists, clinicians, pharmaceutical companies, and clinical laboratories.