NeoGenomics (NEO) is Reiterated by The Benchmark Company to Buy, Raises Price Target to $ 9

NeoGenomics (NEO) was Reiterated by The Benchmark Company to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 9 from a previous price target of $8 . The Benchmark Company advised their investors in a research report released on Apr 28, 2016.

Many Wall Street Analysts have commented on NeoGenomics. The Benchmark Company Initiated NeoGenomics on Mar 11, 2016 to “Buy”, Price Target of the shares are set at $8.

On the company’s financial health, NeoGenomics reported $0.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.01. The company had revenue of $59.70 million for the quarter, compared to analysts expectations of $57.00 million. The company’s revenue was up 159.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.01 EPS.

NeoGenomics opened for trading at $7.58 and hit $8.33 on the upside on Wednesday, eventually ending the session at $8.2, with a gain of 9.92% or 0.74 points. The heightened volatility saw the trading volume jump to 14,82,886 shares. Company has a market cap of $622 M.

In a different news, on Mar 14, 2016, George Cardoza (Chief Financial Officer) sold 32,000 shares at $6.83 per share price. According to the SEC, on Mar 10, 2016, Oort Douglas M Van (Chairman and CEO) sold 450,000 shares at $7.06 per share price. On Mar 7, 2016, Kevin C Johnson (director) purchased 22,007 shares at $6.80 per share price, according to the Form-4 filing with the securities and exchange commission.

NeoGenomics Inc. is an operator of a network of cancer-focused genetic testing laboratories. The Company offers testing services which includes Cytogenetics testing which is the study of normal and abnormal chromosomes and their relationship to disease; fluorescence in-situ hybridization (FISH) testing which is a branch of cancer genetics that focuses on detecting and locating the presence or absence of specific deoxyribonucleic acid (DNA) sequences and genes on chromosomes; flow cytometry testing which is a way to measure the characteristics of cell populations; immunohistochemistry (IHC) testing which is a process of identifying cell proteins in a tissue section utilizing the principle of antibodies binding specifically to in biological tissues. and molecular testing which is a cancer diagnostic tool focusing on the analysis of DNA and ribonucleic acid (RNA) as well as the structure and function of genes at a molecular level.


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