NeoGenomics (NASDAQ:NEO) Price Target Cut to $10.00 by Analysts at Morgan Stanley

NeoGenomics (NASDAQ:NEO) had its target price lowered by equities research analysts at Morgan Stanley from $17.00 to $10.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the medical research company’s stock. Morgan Stanley’s price target indicates a potential upside of 29.87% from the company’s previous close.

NEO has been the topic of several other research reports. Bank of America reduced their price objective on shares of NeoGenomics from $19.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Piper Sandler lowered their price objective on NeoGenomics from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Needham & Company LLC dropped their target price on NeoGenomics from $18.00 to $8.50 and set a “buy” rating for the company in a research note on Tuesday. Leerink Partners cut NeoGenomics from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $25.00 to $9.00 in a report on Wednesday. Finally, Benchmark lowered shares of NeoGenomics from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, NeoGenomics currently has a consensus rating of “Moderate Buy” and an average target price of $14.50.

NeoGenomics Price Performance

Shares of NASDAQ:NEO opened at $7.70 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.91 and a current ratio of 1.98. The business’s fifty day moving average price is $9.40 and its two-hundred day moving average price is $13.27. The stock has a market cap of $990.66 million, a PE ratio of -12.42 and a beta of 1.41. NeoGenomics has a one year low of $6.08 and a one year high of $19.12.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new stake in shares of NeoGenomics in the fourth quarter worth about $26,000. Versant Capital Management Inc boosted its holdings in NeoGenomics by 174.9% in the 4th quarter. Versant Capital Management Inc now owns 1,795 shares of the medical research company’s stock worth $30,000 after acquiring an additional 1,142 shares during the period. Sterling Capital Management LLC grew its position in NeoGenomics by 788.7% in the fourth quarter. Sterling Capital Management LLC now owns 3,706 shares of the medical research company’s stock valued at $61,000 after acquiring an additional 3,289 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of NeoGenomics by 203.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,156 shares of the medical research company’s stock valued at $70,000 after purchasing an additional 2,787 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of NeoGenomics by 33.2% during the fourth quarter. Blue Trust Inc. now owns 4,421 shares of the medical research company’s stock worth $73,000 after purchasing an additional 1,103 shares in the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

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.