Craig-Hallum Releases a Buy Rating on NeoGenomics (NEO)

In a report released today, Matt Hewitt from Craig-Hallum assigned a Buy rating to NeoGenomics (NEO – Research Report). The company’s shares closed last Wednesday at $18.61.

Hewitt covers the Healthcare sector, focusing on stocks such as Lifecore Biomedical, Inotiv, and Simulations Plus. According to TipRanks, Hewitt has an average return of 2.7% and a 48.91% success rate on recommended stocks.

Currently, the analyst consensus on NeoGenomics is a Strong Buy with an average price target of $20.88.

Based on NeoGenomics’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $167.82 million and a GAAP net loss of $17.7 million. In comparison, last year the company earned a revenue of $151.95 million and had a GAAP net loss of $18.52 million

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NeoGenomics (NEO) Company Description:

NeoGenomics, Inc. is a clinical laboratory, which specializes in cancer genetics diagnostic testing and pharma services. It operates through the following two segments: Clinical and Pharma Services. The Clinical Services segment offers clinical cancer testing services to community-based pathologists. The Pharma Services segments supports pharmaceutical firms in their drug development programs by supporting various clinical trials and research. The Clinical Services Segment provides various clinical testing services to community-based pathology practices, hospital pathology labs and academic centers with reimbursement from various payers including client direct billing, commercial insurance, Medicare and other government payers, and patients. The Pharma Services segment: provides comprehensive testing services in supports pharmaceutical clients’ oncology programs from discovery to commercialization. Its services include cytogenetics, fluorescence in-situ hybridization, flow cytometry, immunohistochemistry, anatomic pathology and molecular genetic testing. The company was founded by Michael T. Dent on October 29, 1998 and is headquartered in Fort Myers, FL.