Brokerages Set NeoGenomics, Inc. (NASDAQ:NEO) Target Price at $20.20

NeoGenomics, Inc. (NASDAQ:NEO - Get Free Report) has been given an average rating of "Moderate Buy" by the eleven ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $20.20.

Several brokerages recently commented on NEO. Bank of America raised their price objective on shares of NeoGenomics from $18.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday, December 13th. Benchmark downgraded shares of NeoGenomics from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Needham & Company LLC restated a "buy" rating and set a $19.00 target price on shares of NeoGenomics in a report on Friday, January 10th. The Goldman Sachs Group dropped their target price on shares of NeoGenomics from $20.00 to $18.00 and set a "buy" rating for the company in a report on Tuesday, January 28th. Finally, Jefferies Financial Group assumed coverage on shares of NeoGenomics in a report on Tuesday, December 10th. They set a "buy" rating and a $22.00 target price for the company.

Institutional Investors Weigh In On NeoGenomics

A number of hedge funds and other institutional investors have recently modified their holdings of NEO. Loomis Sayles & Co. L P purchased a new stake in NeoGenomics in the third quarter valued at approximately $17,807,000. Segall Bryant & Hamill LLC grew its holdings in NeoGenomics by 67.0% in the third quarter. Segall Bryant & Hamill LLC now owns 1,893,407 shares of the medical research company's stock valued at $27,928,000 after purchasing an additional 759,524 shares during the period. Bellevue Group AG grew its holdings in NeoGenomics by 34.2% in the third quarter. Bellevue Group AG now owns 1,612,612 shares of the medical research company's stock valued at $23,786,000 after purchasing an additional 410,516 shares during the period. Norges Bank purchased a new stake in NeoGenomics in the fourth quarter valued at approximately $6,273,000. Finally, Jennison Associates LLC grew its holdings in NeoGenomics by 18.7% in the fourth quarter. Jennison Associates LLC now owns 1,514,756 shares of the medical research company's stock valued at $24,963,000 after purchasing an additional 238,288 shares during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

NeoGenomics Stock Performance

Shares of NASDAQ NEO traded up $0.51 during midday trading on Thursday, hitting $14.42. The company had a trading volume of 962,248 shares, compared to its average volume of 1,185,407. The company has a quick ratio of 1.91, a current ratio of 1.99 and a debt-to-equity ratio of 0.37. NeoGenomics has a twelve month low of $12.13 and a twelve month high of $19.11. The business has a 50-day simple moving average of $15.70 and a two-hundred day simple moving average of $15.60.

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.