NeoGenomics Inc. Stock Forecast:
According to the predictions of 9 analysts, NeoGenomics Inc is expected to have an average target price of USD 18.17 in the next 12 months, with an average analyst rating of Strong Buy. However, Stock Target Advisor’s analysis of the company’s stock is Bearish, based on 2 positive signals and 7 negative signals. The company’s stock price at the last closing was USD 16.63, which represents an increase of 18.19% over the past week, 39.28% over the past month, and a decrease of 10.21% over the last year.
Analysts Coverage Change:
- Cowen maintains an “Outperform” rating for NeoGenomics Inc. and raises the price target to $20 from $14.r
- Benchmark Research Upgrades (NEO:NSD) to a “Buy” rating and raises the price target to $20 from $16.
- Needham & Company maintains its “Buy” rating and raises the price target to $21 from $15.
- Raymond James maintains its “Outperform” rating and raises the price target to $19 from $12.
NeoGenomics Inc. News:
Shares of NeoGenomics, a healthcare company specializing in oncology testing, surged by 23.52% following the release of its full-year and fourth-quarter report. The company has seen its shares rise by more than 79% so far this year, indicating that it is on the road to recovery after facing reduced revenue and earnings in the past.
The company operates under two segments: pharma services and clinical services. In the fourth quarter, the company’s revenue increased by 10% year over year and 8% sequentially, with both segments reporting a rise. Clinical services reported $108 million in sales, up 4% over the same period last year, and pharma services jumped 41% year over year to $31 million in quarterly revenue.
The company attributed its improved numbers to better revenue per test, testing volume, and improved pharma services revenue. Although the company lost $142.3 million in net income in 2022, compared to a loss of $8.3 million the previous year, it only lost $23 million in the quarter compared to the $42 million it lost in the same period in 2021.
NeoGenomics’ progress in three consecutive quarters, with improved revenue, adjusted gross profits, and adjusted EBITDA, appears to be the biggest driver in the stock’s price. The company’s guidance for 2023, with anticipated revenue of $545 million to $555 million, and adjusted EBITDA to fall between a loss of $27 million and a loss of $22 million, is expected to boost the stock further, representing 7% to 9% growth and an improvement of 44% to 54% over 2022.
FA Score (Fundamental Analysis):
The fundamental analysis of NeoGenomics Inc. is “Bearish” with a FA score of 2.2 out of 10, where 0 is very bearish and 10 is very bullish.