NeoGenomics (NASDAQ:NEO) Price Target Lowered to $10.00 at Morgan Stanley

NeoGenomics (NASDAQ:NEO) had its price objective reduced by Morgan Stanley from $17.00 to $10.00 in a research note released on Thursday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the medical research company’s stock.

A number of other research firms also recently commented on NEO. Benchmark downgraded NeoGenomics from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Bank of America decreased their price objective on shares of NeoGenomics from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, February 19th. Piper Sandler cut their price objective on shares of NeoGenomics from $21.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Needham & Company LLC decreased their target price on shares of NeoGenomics from $18.00 to $8.50 and set a “buy” rating for the company in a research report on Tuesday. Finally, Leerink Partnrs downgraded NeoGenomics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.15.

NeoGenomics Trading Up 13.6 %

Shares of NASDAQ NEO opened at $7.26 on Thursday. The business has a fifty day moving average price of $9.47 and a 200 day moving average price of $13.31. NeoGenomics has a 1-year low of $6.08 and a 1-year high of $19.12. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.98 and a quick ratio of 1.91. The stock has a market capitalization of $934.05 million, a P/E ratio of -11.71 and a beta of 1.41.

NeoGenomics (NASDAQ:NEO) last posted its quarterly earnings data on Tuesday, April 29th. The medical research company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.06). NeoGenomics had a negative return on equity of 2.10% and a negative net margin of 11.92%. The business had revenue of $168.04 million during the quarter, compared to analyst estimates of $171.38 million. During the same period in the previous year, the business earned ($0.02) EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts expect that NeoGenomics will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. purchased a new stake in shares of NeoGenomics in the 4th quarter valued at about $26,000. Versant Capital Management Inc lifted its stake in NeoGenomics by 174.9% in the fourth quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock valued at $30,000 after buying an additional 1,142 shares during the last quarter. CWM LLC boosted its holdings in shares of NeoGenomics by 42.6% in the first quarter. CWM LLC now owns 6,299 shares of the medical research company’s stock valued at $60,000 after acquiring an additional 1,883 shares during the period. Sterling Capital Management LLC grew its position in shares of NeoGenomics by 788.7% during the fourth quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company’s stock worth $61,000 after acquiring an additional 3,289 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of NeoGenomics by 203.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,156 shares of the medical research company’s stock valued at $70,000 after acquiring an additional 2,787 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

NeoGenomics Company Profile

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.