NeoGenomics stock surges following earnings, two upgrades

Investing.com -- NeoGenomics Inc. (NASDAQ: NEO) shares rose 7.43% following an upgrade from Leerink analysts, who raised their rating to Outperform from Market Perform and increased their price target to $25 from $12.

Leerink analysts commented: "We are upgrading NEO to Outperform from Market Perform. The company delivers on its one-stop shop business model in oncology diagnostics and is getting back on track, in our view – with strong momentum, profitability, and attractive valuation that cannot be ignored. We are raising our price target to $25 at 3.4x EV/Sales (vs. $12, 1.5x before)."

The cancer diagnostics company reported first-quarter 2026 financial results on Monday, posting revenue of $187 million, an 11% increase YoY. The figure exceeded analyst expectations of $184.53 million. Adjusted EBITDA climbed 27% to $9 million.

NeoGenomics matched earnings per share forecasts at $0.01. The company's growth was driven by strong performance in next-generation sequencing and clinical testing.

Benchmark analysts described the first quarter as solid in their upgrade to Buy.

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