NeoGenomics (NEO) is Reiterated by The Benchmark Company to Buy, Raises Price Target to $ 12

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 $ 12 from a previous price target of $10 . The Benchmark Company advised their investors in a research report released on Jul 27, 2016.

On the company’s financial health, NeoGenomics reported $0.04 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.03. The company had revenue of $63.13 million for the quarter, compared to analysts expectations of $60.94 million. The company’s revenue was up 159.0% compared to the same quarter last year.

NeoGenomics opened for trading at $9 and hit $9.18 on the upside on Thursday, eventually ending the session at $9.12, with a gain of 0.11% or 0.01 points. The heightened volatility saw the trading volume jump to 2,47,988 shares. Company has a market cap of $703 M.

In a different news, on May 27, 2016, Oort Douglas M Van (Chairman and CEO) sold 481,387 shares at $8.72 per share price. According to the SEC, on May 20, 2016, Steven A Ross (CIO) sold 18,000 shares at $8.50 per share price. On May 3, 2016, Steven C Jones (Executive VP of Finance) sold 177,745 shares at $8.21 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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