Bank of America Issues Pessimistic Forecast for NeoGenomics (NASDAQ:NEO) Stock Price

NeoGenomics (NASDAQ:NEO) had its target price decreased by research analysts at Bank of America from $19.00 to $16.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the medical research company’s stock. Bank of America‘s price objective indicates a potential upside of 29.03% from the stock’s previous close.

Several other analysts have also recently weighed in on the company. The Goldman Sachs Group reduced their price target on NeoGenomics from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Needham & Company LLC reduced their price target on NeoGenomics from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday. Benchmark cut NeoGenomics from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, Jefferies Financial Group assumed coverage on NeoGenomics in a report on Tuesday, December 10th. They set a “buy” rating and a $22.00 price target on the stock. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.80.

NeoGenomics Stock Down 14.0 %

Shares of NASDAQ NEO opened at $12.40 on Wednesday. The company has a current ratio of 1.99, a quick ratio of 1.91 and a debt-to-equity ratio of 0.37. The company has a market cap of $1.59 billion, a price-to-earnings ratio of -20.33 and a beta of 1.23. NeoGenomics has a 12 month low of $10.69 and a 12 month high of $19.11. The stock has a 50-day moving average price of $15.63 and a two-hundred day moving average price of $15.57.

NeoGenomics (NASDAQ:NEO) last issued its earnings results on Tuesday, February 18th. The medical research company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). NeoGenomics had a negative return on equity of 2.11% and a negative net margin of 12.07%. As a group, analysts forecast that NeoGenomics will post -0.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in NeoGenomics by 7.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 646,111 shares of the medical research company’s stock worth $10,648,000 after purchasing an additional 42,895 shares during the period. Sovereign s Capital Management LLC purchased a new stake in shares of NeoGenomics in the 4th quarter valued at about $490,000. Squarepoint Ops LLC purchased a new stake in shares of NeoGenomics in the 4th quarter valued at about $276,000. Sherbrooke Park Advisers LLC purchased a new stake in shares of NeoGenomics in the 4th quarter valued at about $183,000. Finally, ProShare Advisors LLC raised its holdings in shares of NeoGenomics by 44.5% in the 4th quarter. ProShare Advisors LLC now owns 38,445 shares of the medical research company’s stock valued at $634,000 after acquiring an additional 11,831 shares in the last quarter. 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.