Roth Capital Reiterates Buy On NeoGenomics Ahead Of Investor Meetings With Management


In a research report released today, Roth Capital analyst Debjit Chattopadhyay reiterated a Buy rating on NeoGenomics Inc. (NASDAQ:NEO) with a $7 price target, ahead of a series of investor meetings with NeoGenomics’ management on the 12th and 13th of November.

Chattopadhyay said, “Revenue diversification, test menu expansion, new client acquisition, increased same store sales and increasing operational efficiency have been a constant theme over the past few quarters. However, the acquisition of Covance and CMS headwinds have added a level of uncertainty over the intermediate time frame and increases focus on the non-invasive prostate cancer test launch. What is a sustainable volume growth? Since 4Q12 NEO’s sequential volume growth has averaged ~7% and since 2Q13 YoY growth has averaged ~25%. Our 2015 estimates are based on sequential and YoY volume growth of 3.5% and 16.3%, respectively, which can be surpassed based the numerous recent additions to its test menu, in our view.”

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 -11.5% and a 33.9% success rate. Chattopadhyay has a 6.7% average return when recommending NEO, and is ranked #3320 out of 3367 analysts.

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