Stock of the Day

March 24, 2020

NeoGenomics (NEO)

$17.45
-$0.46 (-2.6%)
Market Cap: $2.30B

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. It also provides cytogenetics testing services to study normal and abnormal chromosomes and their relationship to diseases; fluorescence in-situ hybridization testing services that focus on detecting and locating the presence or absence of specific DNA sequences and genes on chromosomes; flow cytometry testing services to measure the characteristics of cell populations; and immunohistochemistry and digital imaging testing services to localize cellular proteins in tissue section, as well as to allow clients to visualize scanned slides, and perform quantitative analysis for various stains. In addition, the company also provides molecular testing services, which focus on the analysis of DNA and/or RNA, and the structure and function of genes at the molecular level; morphologic analysis, which is the process of analyzing cells under the microscope by a pathologist for the purpose of diagnosis; and testing services in support of its pharmaceutical clients' oncology programs covering discovery and commercialization. NeoGenomics, Inc. was founded in 2001 and is headquartered in Fort Myers, Florida.

Today's Trend

NeoGenomics, Inc. (NASDAQ: NEO) shares increased after the company delivered a stronger-than-expected second quarter and raised its outlook, prompting the stock to reach a new 52-week high. Trading volume was also elevated versus its average, indicating significant investor interest.

  • Q2 earnings beat expectations: NeoGenomics reported adjusted earnings of $0.05 per share, above the $0.03 consensus estimate, while revenue rose 11.2% year over year to $201.66 million, exceeding expectations of approximately $196.93 million. NeoGenomics Q2 Earnings, Revenue Rise; Ups Guidance
  • Raised full-year guidance: Management now expects 2026 revenue of $802 million to $806 million and is targeting mid-20% growth in next-generation sequencing, supporting expectations for continued expansion. NeoGenomics anticipates 2026 revenue guidance
  • Analyst support strengthened: Needham raised its price target from $15 to $19 and maintained a Buy rating, implying additional upside based on the cited trading level. NeoGenomics price target raised by Needham
  • New 12-month high: The earnings beat and upgraded outlook drove NEO to an intraday 52-week high near $16.10, reinforcing the bullish market reaction. NeoGenomics reaches new 12-month high after earnings beat
  • Risks remain: NeoGenomics continues to report negative net margins, and management adjusted expectations for its pharmaceutical business. The stock’s sharp rally also leaves execution against the higher guidance important for sustaining momentum.
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