NeoGenomics rises after BTIG upgrades to 'buy'
NEO•NeoGenomics shares rose more than 4% in premarket trading after BTIG upgraded the stock to “buy” from “neutral” and set a $28 price target. BTIG cited expanded Medicare coverage for the RaDaR ST test and potential growth from the PanTracer LBx blood test.
1. BTIG upgrades rating
BTIG raised its rating on NeoGenomics to “buy” from “neutral” and set a $28 price target, implying 46.4% upside to the stock’s last close. The brokerage said Medicare coverage for the RaDaR ST test now extends to more uses, potentially opening up 40% or more of its market, and said the PanTracer LBx blood test could add growth.
