NeoGenomics price target raised to $16 from $15 at BofA

BofA analyst Derik de Bruin raised the firm’s price target on NeoGenomics to $16 from $15 and keeps a Neutral rating on the shares. NeoGenomics’ Q3 results were ahead of expectations driven by strong trends across the diagnostics industry and better pricing, notes the analyst, who raised the firm’s estimates to reflect the result and commentary. However, while stating that NeoGenomics is making good progress in revamping the business, BofA thinks this is “largely already priced into shares,” the analyst added.