NeoGenomics gains after raising 2023 sales forecast

NeoGenomics

09/05/2023 12:20

** Shares of Cancer-focused diagnostics firm NeoGenomics Inc
 NEO.O  up 7.1% at $16.50 premarket
    ** Company raises 2023 sales forecast to $555 mln to $565
mln from $545 mln to $555 mln projected previously 
    ** NEO's Q1 sales of $137 mln beat Refinitiv est. of $126.4
mln on strength of its core clinical business
    ** Quarterly net loss narrowed to $31 mln from $49 mln a
year earlier
    ** Brokerages including TD Cowen and BTIG raise PTs on stock
after the results
    ** As of last close, stock up ~67% YTD

 (Reporting by Khushi Mandowara in Bengaluru)
 ((Khushi.Mandowara@thomsonreuters.com;))