Roth Capital Maintains Buy On NeoGenomics Following New CFO Appointment
In a research report issued today, Roth Capital analyst Debjit Chattopadhyay maintained a Buy rating on NeoGenomics (NASDAQ:NEO) with a $7.00 price target, following the appointment of Robert Shovlin as Chief Operating Officer.
Chattopadhyay observed, “Mr. Shovlin brings a wealth of expertise at targeting urologists and other clinicians, which could become a key asset as NEO prepares for the launch of its proprietary non-invasive prostate cancer test during 1H15, in our view. Despite the likelihood of an optically noisy quarter, which could deliver a QoQ decrease in gross margin, we believe core fundamentals remain strong and recommend buying on pullbacks.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Debjit Chattopadhyay has a total average return of -0.5% and a 22.9% success rate. Chattopadhyay has a 24.4% average return when recommending NEO, and is ranked #2560 out of 3310 analysts.