Cowen Starts Neogenomics (NEO) at Outperform

Cowen analyst Dan Brennan initiates coverage on Neogenomics (NASDAQ: NEO) with an Outperform rating and a price target of $42.00.

The analyst commented, "NEO's stock is down ~40% YTD, creating an attractive entry point ahead of improving growth. We expect NEO's organic growth to accelerate materially, from ~HSD% today to high teens by '23-25, as new tests/categories ramp. Namely, on top of ~7% core clinical growth, Pharma Services & NGS lift NEO to mid teens. RaDaR, NEO's MRD test, is the final piece, and diligence suggests best in class potential."

For an analyst ratings summary and ratings history on Neogenomics click here. For more ratings news on Neogenomics click here.

Shares of Neogenomics closed at $32.04 yesterday.

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