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NeoGenomics Hitting New Highs


Shares of NeoGenomics Inc. (NEO), which have been hitting new highs, are up nearly 87% year-to-date.

NeoGenomics is a commercial-stage cancer diagnostics and pharma services company. We alerted readers to this stock on May 21, 2014, when it was trading around $3.54. (Report titled "Decoding NEO...").

The Company has grown its revenue over the years, thanks to the unparalleled reach of its services into all customer segments, including hospitals, pathologists, and community oncology practices.

Net revenue in 2014 was $87 million, and it improved to $99.8 million in 2015; $231.8 million in 2016; $240 million in 2017, and $276.7 million in 2018.

And this is how the bottom line fared…

The Company reported a net income due to common holders of $1.13 million or $0.02 per share in 2014, which slipped to a loss of $2.66 million or $0.04 per share in 2015, and it further widened to $30.8 million or $0.40 per share in 2016. The following year, i.e., in 2017, the loss shrunk to $10.9 million or $0.14 per share, and it reversed to net income due to common stockholders of $6.1 million or $0.07 per share in 2018.

Seeking to enhance its leadership in the oncology test market and to increase its customer reach, NeoGenomics acquired Genoptix Inc., a clinical oncology laboratory, last October.

In the first quarter ended March 31, 2019, the Company posted net revenue of $95.6 million, an increase of 51% over the same period in 2018. Net loss attributable to common stockholders was $2.42 million or $0.03 per share in the first quarter of 2019 compared to a net loss of $2.21 million or $0.03 per share in the year-ago quarter.

The Company ended the first quarter of 2019 with cash and cash equivalents of $13.2 million.

Looking ahead to 2019, NeoGenomics now expects net revenue to range between $384 million and $400 million, up from its prior forecast range of $379 million to $395 million.

With the integration of Genoptix progressing well and better opportunities for continued growth in 2019, the Company sees momentum continuing.

NEO has traded in a range of $10.23 to $23.35 in the last 1 year. The stock closed Friday's (May 3, 2019) trading at $23.25, up 3.38%.

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