Roth Capital Reiterates Buy On NeoGenomics Following 3Q14 Results
Roth Capital analyst Debjit Chattopadhyay reiterated a Buy rating on NeoGenomics Inc. (NASDAQ:NEO) with a $7 price target, which represents a potential upside of 27.5% from where the stock is currently trading.
Chattopadhyay stated, “NeoGenomics 3Q14 numbers were on the high end of guidance and ahead of our and consensus estimates. NEO also increased the low end of its FY14 revenue guidance by 2.4%. Volume growth continues to surprise on the upside driven by the introduction of at least 60 molecular tests, which has contributed to new client acquisitions and increased same store sales. We continue to see significant upside to our 2015 estimates driven by multiple catalysts and would be buyers on any pullback.”
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 -12.6% and a 41.7% success rate. Chattopadhyay has a 20.2% average return when recommending NEO, and is ranked #3304 out of 3354 analysts.