Needham analyst Michael Matson has reiterated their bullish stance on NEO stock, giving a Buy rating today.
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Michael Matson has given his Buy rating due to a combination of factors, primarily stemming from NeoGenomics’ recent legal victory. The company successfully won a summary judgment in its patent infringement case against Natera, which invalidated Natera’s claims and allowed NeoGenomics to freely commercialize its RaDaR ST assay.
This development is significant as it opens up opportunities for NeoGenomics to tap into the multi-billion dollar market for MRD testing. The company’s strong distribution channels and established relationships with physicians further bolster its potential for growth. Consequently, Matson has increased the price target for NeoGenomics from $8.00 to $14.00, reflecting confidence in the company’s future prospects and reinforcing the Buy rating.