NeoGenomics Stock Just Turned Its First Profit, Creating an Optimal Entry Point

NeoGenomics (NEO) is a prominent cancer genetics diagnostics lab, boasting a 100% Buy technical opinion from Barchart and overwhelmingly bullish analyst sentiment. Its recent profitability marks a prime opportunity for investors. Specializing in various testing services, NEO caters to pathologists, oncologists, urologists, hospitals, and other reference labs across the United States.

The company's stock hit a two-year high of $19.15 on August 27, soaring 170.27% in the past 52 weeks. Currently trading at $19.27, NEO has a 50-day moving average of $14.94, with 10 new highs and a 45.62% gain in the last month. Support levels are around $16.82, while projected revenue growth is 10.55% this year and 10.07% next year. Earnings are expected to increase by 31.17% this year and 13.68% the following year.

Analysts at Barchart have given NEO a 2-year high and a Trend Seeker Buy signal since July 29, resulting in a 26.39% gain. Morningstar considers the stock 13% overvalued, with a fair value of $15.27. TipRanks analysts project a 5.55% gain, with price targets between $16 and $21. With 12% of the float shorted, NEO's trading is highly volatile, and investors are advised to follow diversification and stop loss strategies suitable to their personal risk tolerance.