CIBC Analysts Give NeoGenomics (NEO) a $19.00 Price Target

NeoGenomics (NASDAQ:NEO) received a $19.00 target price from analysts at CIBC in a research note issued to investors on Wednesday. The firm currently has a “neutral” rating on the medical research company’s stock. CIBC’s price target indicates a potential upside of 117.89% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of NeoGenomics from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. BTIG Research cut shares of NeoGenomics from a “buy” rating to a “neutral” rating in a report on Monday, September 11th. Janney Montgomery Scott reissued a “buy” rating on shares of NeoGenomics in a report on Thursday, October 26th. Finally, BidaskClub cut shares of NeoGenomics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 18th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. NeoGenomics has an average rating of “Buy” and a consensus target price of $15.83.

NeoGenomics (NASDAQ NEO) traded down $0.14 during midday trading on Wednesday, reaching $8.72. 264,800 shares of the company traded hands, compared to its average volume of 248,950. The stock has a market capitalization of $712.43, a PE ratio of -24.91, a P/E/G ratio of 3.57 and a beta of 0.84. NeoGenomics has a 52-week low of $7.12 and a 52-week high of $11.63. The company has a quick ratio of 1.99, a current ratio of 2.14 and a debt-to-equity ratio of 0.57.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings results on Wednesday, October 25th. The medical research company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $63.05 million during the quarter, compared to analysts’ expectations of $63.11 million. NeoGenomics had a negative net margin of 4.78% and a positive return on equity of 3.97%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.04 earnings per share. equities research analysts predict that NeoGenomics will post 0.04 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of the business. TIAA CREF Investment Management LLC increased its holdings in NeoGenomics by 0.4% in the second quarter. TIAA CREF Investment Management LLC now owns 149,220 shares of the medical research company’s stock valued at $1,337,000 after buying an additional 581 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in NeoGenomics by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 199,654 shares of the medical research company’s stock valued at $1,789,000 after buying an additional 1,235 shares in the last quarter. Rhumbline Advisers increased its holdings in NeoGenomics by 3.6% in the second quarter. Rhumbline Advisers now owns 61,500 shares of the medical research company’s stock valued at $551,000 after buying an additional 2,135 shares in the last quarter. Teachers Advisors LLC increased its holdings in NeoGenomics by 3.1% in the first quarter. Teachers Advisors LLC now owns 96,168 shares of the medical research company’s stock valued at $759,000 after buying an additional 2,854 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in NeoGenomics by 7.1% in the second quarter. The Manufacturers Life Insurance Company now owns 46,245 shares of the medical research company’s stock valued at $414,000 after buying an additional 3,058 shares in the last quarter. 83.43% of the stock is owned by institutional investors.

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About NeoGenomics

NeoGenomics, Inc is an operator of a network of cancer-focused genetic testing laboratories. The Company operates in Laboratory Testing Segment. This segment delivers testing services to hospitals, pathologists, oncologists, other clinicians and researchers. It has laboratory locations in Ft. Myers and Tampa, Florida; Aliso Viejo, Fresno, Irvine, and West Sacramento, California; Houston, Texas and Nashville, and Tennessee.

Analyst Recommendations for NeoGenomics (NASDAQ:NEO)

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