NeoGenomics rises 4% premarket on BTIG upgrade to 'buy'
NeoGenomics shares jumped more than 4% to $19.92 in premarket trading after BTIG upgraded its rating to 'buy' from 'neutral', citing Medicare coverage for its RaDaR ST test and potential growth from the PanTracer LBx blood test. BTIG set its price target at $28.
92 in premarket trading after BTIG upgraded the cancer diagnostics company to "buy" from "neutral". 4% upside to the stock's last close, and said it was the highest target it has set for NEO since at least 2023. The brokerage said Medicare now covers the RaDaR ST test for more uses, which could open up 40% or more of its market, and said the PanTracer LBx blood test could add more growth. BTIG also said NEO has beaten revenue estimates four quarters in a row, its patent dispute is largely resolved, and early Q3 revenue came in ahead of expectations.
50. 67% year to date.