Roth Capital Reiterates Buy On NeoGenomics Following Financing; Sees 34% Upside


In a research note released today, Roth Capital analyst Debjit Chattopadhyay reiterated coverage with a Buy rating on shares of NeoGenomics Laboratories (NEO) and a $7.00 price target, following completion of $32.2 million financing. The analyst current price target represents a potential upside of 34% from where the stock is currently trading.

Chattopadhyay has updated his model with 2015 estimates: “For 2014 and 2015 we expect test volume growth of ~25% and ~18%, respectively, from NEO’s core business; our growth assumption excludes contributions from Path Labs, non-invasive prostate cancer test (NeoSCORE), and Covance (CVD-NC). While we expect the next few quarters to be noisy, as the Path Labs business gets internalized, it does not impact our long-term thesis on NEO, and we expect the company to return to profitability during 2Q15.”

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 2.7% and a 38.9% success rate. Chattopadhyay has a 46.8% average return when recommending NEO, and is ranked #1761 out of 3255 analysts.

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