NeoGenomics (NASDAQ:NEO) Announces Earnings Results

NeoGenomics (NASDAQ:NEO) issued its quarterly earnings results on Wednesday. The medical research company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01, FiscalAI reports. NeoGenomics had a negative return on equity of 1.99% and a negative net margin of 6.77%. The firm had revenue of $209.25 million during the quarter, compared to the consensus estimate of $206.70 million.

NeoGenomics Stock Up 4.2%

Shares of NASDAQ NEO traded up $0.72 during trading on Wednesday, hitting $17.99. 2,577,279 shares of the company traded hands, compared to its average volume of 2,249,442. The business’s fifty day moving average is $17.60 and its 200 day moving average is $12.75. NeoGenomics has a fifty-two week low of $7.07 and a fifty-two week high of $20.15. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of -44.97 and a beta of 1.79. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.35 and a current ratio of 3.60.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Benchmark boosted their price objective on NeoGenomics from $11.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, July 24th. TD Cowen reaffirmed a “buy” rating on shares of NeoGenomics in a research note on Wednesday, July 15th. Needham & Company LLC lifted their target price on NeoGenomics from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, October 6th. Craig Hallum reissued a “buy” rating and issued a $19.00 price target on shares of NeoGenomics in a research note on Wednesday, July 29th. Finally, Piper Sandler restated an “overweight” rating on shares of NeoGenomics in a report on Wednesday, October 7th. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.17.

NeoGenomics Company Profile

NeoGenomics, Inc (NASDAQ: NEO) is a cancer-focused diagnostics company that provides laboratory testing and related services to oncologists, hospitals, academic institutions, and biopharmaceutical companies. Its diagnostic offerings support the detection, classification, and monitoring of cancer and help inform treatment decisions.

The company’s services include pathology, immunohistochemistry, flow cytometry, cytogenetics, molecular testing, and other specialized oncology assays. NeoGenomics also provides clinical trial and pharmaceutical services, including biomarker testing, central laboratory support, and companion diagnostic development for drug developers.

Founded in 1999, NeoGenomics has expanded through internal growth and acquisitions and operates a network of clinical laboratories serving customers primarily in the United States, with additional international capabilities.