NeoGenomics (NEO) PT Raised to $22.00 at Craig Hallum

NeoGenomics (NASDAQ:NEO) had its target price raised by Craig Hallum from $17.00 to $22.00 in a research note published on Wednesday morning, The Fly reports. The firm currently has a buy rating on the medical research company’s stock.

Other equities analysts also recently issued reports about the company. Zacks Investment Research downgraded NeoGenomics from a hold rating to a sell rating in a research report on Thursday, July 19th. BidaskClub raised NeoGenomics from a buy rating to a strong-buy rating in a research report on Friday, September 21st. First Analysis set a $16.00 target price on NeoGenomics and gave the company a buy rating in a research report on Tuesday, September 18th. Finally, Leerink Swann began coverage on NeoGenomics in a research report on Tuesday, August 21st. They issued an outperform rating and a $18.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and three have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $20.00.

Shares of NEO traded down $0.52 during midday trading on Wednesday, hitting $17.98. 1,143,384 shares of the company’s stock traded hands, compared to its average volume of 737,070. NeoGenomics has a 1 year low of $7.08 and a 1 year high of $19.04.

NeoGenomics (NASDAQ:NEO) last issued its quarterly earnings data on Tuesday, October 30th. The medical research company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.02 by $0.03. The business had revenue of $69.10 million for the quarter, compared to analysts’ expectations of $66.13 million. During the same quarter in the prior year, the company posted $0.01 EPS. The business’s revenue for the quarter was up 16.8% on a year-over-year basis.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Light Asset Management LLC grew its position in NeoGenomics by 8.4% during the 2nd quarter. First Light Asset Management LLC now owns 5,162,063 shares of the medical research company’s stock worth $67,675,000 after purchasing an additional 401,731 shares during the period. BlackRock Inc. grew its position in NeoGenomics by 4.7% during the 2nd quarter. BlackRock Inc. now owns 4,149,329 shares of the medical research company’s stock worth $54,397,000 after purchasing an additional 184,386 shares during the period. Artisan Partners Limited Partnership grew its position in NeoGenomics by 0.7% during the 2nd quarter. Artisan Partners Limited Partnership now owns 2,175,072 shares of the medical research company’s stock worth $28,515,000 after purchasing an additional 14,583 shares during the period. Emerald Advisers Inc. PA grew its position in NeoGenomics by 21.6% during the 3rd quarter. Emerald Advisers Inc. PA now owns 1,671,830 shares of the medical research company’s stock worth $25,663,000 after purchasing an additional 297,384 shares during the period. Finally, Emerald Mutual Fund Advisers Trust grew its position in NeoGenomics by 250.8% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 1,556,745 shares of the medical research company’s stock worth $23,896,000 after purchasing an additional 1,112,939 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

NeoGenomics Company Profile

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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