Stock Track | NeoGenomics Soars 5.24% on Strong Q3 Revenue Growth and Raised Price Target

Stock Track10-29

NeoGenomics (NEO) stock is soaring 5.24% in Wednesday's pre-market trading session following the release of its Q3 earnings report and an analyst's price target increase. The cancer diagnostics company reported strong revenue growth, despite widening losses, which seems to have impressed investors.

According to the earnings report, NeoGenomics experienced significant revenue growth in the third quarter. While the company's losses have increased, the market appears to be focusing on the top-line expansion, suggesting confidence in the company's long-term prospects and growth strategy.

Adding to the positive sentiment, TD Cowen has raised its price target for NeoGenomics from $12 to $14, indicating increased optimism about the company's future performance. However, it's worth noting that Benchmark Co. has maintained its Hold rating on the stock, with the company's shares closing at $9.90 in the previous session. The contrasting analyst views highlight the complex landscape NeoGenomics is navigating as it pursues growth while managing increased expenses.

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