Neogenomics

NEO · NASDAQ

$16.62+$0.20 (+1.22%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $16.42

NEO analyst rating

BuyConsensus of 7 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy7
Hold0
Underperform0
Sell0

12-month price target · 10 analysts

Average $20.12 (+21.0% upside)

Low: $16.16
Now: $16.62
High: $36.75

Upgrades and downgrades

The latest rating actions, newest first

NEO analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
StoneX	Oct 6, 2026	Maintains	Buy	$16.00 → $20.00	59%
Needham	Oct 6, 2026	Maintains	Buy	$19.00 → $22.00	45%
BTIG	Oct 6, 2026	Upgrade	Neutral → Buy	$28.00	54%
Needham	Jul 29, 2026	Maintains	Buy	$15.00 → $19.00	45%
Benchmark	Jul 24, 2026	Maintains	Buy	$11.00 → $16.00	59%
Benchmark	Apr 29, 2026	Upgrade	Hold → Buy	$11.00	32%
TD Cowen	Apr 29, 2026	Maintains	Buy	$13.00 → $14.00	61%
Leerink Partners	Apr 29, 2026	Upgrade	Market Perform → Outperform	$12.00 → $25.00	51%
Piper Sandler	Feb 24, 2026	Maintains	Overweight	$12.00 → $13.00	58%
Needham	Feb 17, 2026	Maintains	Buy	$14.00 → $15.00	45%

The case for and against

Updated Oct 18, 2026

Bull case

NeoGenomics is viewed favorably because its operating turnaround appears real, with four consecutive quarterly top-line beats, five straight quarters of double-digit growth, and Q2’26 revenue of $202M with clinical revenue up 14% year over year, supported by improving gross margins and a 12% increase in revenue per test to $515. The company’s core growth drivers are strengthening as NGS mix expanded 26% year over year, reimbursement for PanTracer LBx was secured in March 2026, and RaDaR ST received CMS coverage in August 2026 for immunotherapy monitoring, which should expand case volume and recurring MRD demand. Fundamentally, the stock still screens cheaply at roughly 3x 2027 consensus revenue versus about 11x for peers, while management expects 2026 revenue of $802M-$806M and adjusted EBITDA of $56M-$58M, leaving room for multiple re-rating as execution and reimbursement improve.

Bear case

NeoGenomics is facing a structurally difficult competitive backdrop, as it may not keep pace with larger specialty labs on test innovation or aggressive commercial tactics, leaving it vulnerable to market share loss to more focused competitors. Its fundamentals are also pressured by unpredictable reimbursement from CMS and private payers, plus a heavily regulated U.S. and international operating environment where CLIA, state, and billing changes can quickly raise costs or reduce revenue. The bear case assumes revenue growth of 7% or less, driven by slower test-menu expansion, weaker reimbursement, and greater reinvestment that could keep EBITDA margins under pressure.

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