Roth Capital Reiterates Buy On NeoGenomics, $7 PT


In a research report issued today, Roth Capital analyst Debjit Chattopadhyay reiterated a Buy rating on NeoGenomics (NASDAQ:NEO) with a price target of $7.00.

Chattopadhyay noted, “Based on customer feedback and increased collaboration with pharmaceutical partners in the clinical trial business segment, NEO has launched a comprehensive solid tumor 315-gene Next Generation Sequencing Test, which rivals competitor Foundation Medicine in its scope and potentially surpasses it in clinical utility . Reiterate Buy and $7 price target. We estimate pricing between $4K-$5K: Recall that FMI’s FoundationOne has a list price of $5,800 and interrogates the entire coding sequence of 315 cancer-related genes plus select introns from 28 genes often rearranged or altered in solid tumors. NEO’s test will analyze variants in the coding sequence of 315 genes and also uses conventional Fluorescent in Situ Hybridization methods to identify large deletions, amplifications and translocations in nine different chromosomal loci.”

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 -13.6% and a 27.3% success rate. Chattopadhyay has a 10.3% average return when recommending NEO, and is ranked #3285 out of 3335 analysts.

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