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NEO · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is NeoGenomics, Inc. (NEO) stock moving?
NeoGenomics beat Q3 2026 expectations on October 28, with adjusted EPS of $0.07 versus $0.05 expected and sales of $209.3M versus $207.3M expected, and it raised full-year 2026 sales guidance to $807M-$809M. Analysts followed with support: TD Cowen kept its Buy rating and lifted its target to $23, and BTIG reiterated Buy with a $28 target. The stock responded with a post-earnings high of $18.15 on October 29 on 3.76M shares, roughly double its typical volume, but the gain did not hold. Shares closed at $17.38 on October 30, $16.49 on November 2, and $16.96 on November 10, after a 3.6% drop from $17.60 on November 9. Recent closes sit mostly between $16.5 and $17.6, with support near $16.1 to $16.5 from the late October and early November lows (the 30-day low is $15.90 on November 5) and resistance near $18.0 to $18.15. The fundamental news is positive, but the price has not confirmed it. The news flow for the next week is limited to investor conference appearances. The Neo Performance Materials item in the feed relates to a different company and was excluded.
News behind the analysis
- NeoGenomics to Participate in Upcoming Investor ConferencesNeoGenomics will attend the Stephens Annual Investment Conference and the Piper Sandler 38th Annual Healthcare Conference. The event is routine and does not change the financial outlook.
- TD Cowen Maintains NeoGenomics at Buy, Raises Price Target to $23TD Cowen reaffirmed its Buy rating and raised its price target from $19 to $23. The note cites recurring growth that stayed strong despite project execution lagging, plus 2027 recovery opportunities.
- TD Cowen Maintains Buy on NeoGenomics, Raises Price Target to $23TD Cowen kept its Buy rating and lifted its price target to $23 after the third-quarter results.
- BTIG Reiterates Buy on NeoGenomics, Maintains $28 Price TargetBTIG reiterated its Buy rating and kept its $28 price target following the quarterly report.
- NeoGenomics Reports Third Quarter 2026 ResultsNeoGenomics reported its financial results for the third quarter ended September 30, 2026. The release is the basis for the guidance raise and the earnings beat reported the same day.
- NeoGenomics Q3 2026 Earnings Call TranscriptThe transcript of the third-quarter 2026 earnings call, reported on Wednesday, Oct 28, is now available.
- NeoGenomics Raises FY2026 Sales Guidance from $802.000M-$806.000M to $807.000M-$809.000M vs $805.827M EstNeoGenomics raised full-year 2026 sales guidance to $807M-$809M, above the $805.8M consensus estimate. The guidance raise is the main positive from the quarter.
- NeoGenomics Q3 Adj. EPS $0.07 Beats $0.05 Estimate, Sales $209.254M Beat $207.328M EstimateThird-quarter adjusted EPS of $0.07 beat the $0.05 estimate, and sales of $209.3M beat the $207.3M estimate.
About NeoGenomics, Inc.
NeoGenomics is a cancer diagnostics company based in Fort Myers, Florida. It runs a network of accredited labs across the US, plus a sample-processing lab in Cambridge, England. It focuses on serving community oncologists and pathologists, and offers one of the broader menus of cancer tests, including genomic (NGS) testing used to pick treatments and track whether cancer has come back.
How it makes money
Most revenue (roughly 93%) comes from clinical testing services: doctors and hospitals send it patient samples for cancer tests such as next-generation sequencing (NGS), and it is paid by insurers, Medicare and healthcare providers. Clinical revenue was about $195 million of the roughly $209 million total in Q3 2026. The rest comes from advanced diagnostics and pharma services, where it runs tests for drug companies' clinical trials. Total revenue was about $727 million in 2025 and has been growing around 11% a year. The company was still near break-even on a GAAP basis in 2026.
What usually moves NEO
- Growth in NGS testing volume and average price per test
- Insurance and Medicare payment rates for tests
- Progress toward steady profits and margin growth
- Spending by drug companies on clinical trials
- Competition and leadership changes (a new CEO starts January 2027)