William Blair analyst Andrew Brackmann has reiterated their bullish stance on NEO stock, giving a Buy rating today.
Andrew Brackmann has given his Buy rating due to a combination of factors surrounding NeoGenomics’ strategic acquisition of Pathline. This acquisition is seen as a low-risk investment that aligns with NeoGenomics’ growth strategy, providing them with a stronger presence in the Northeast U.S. and access to a suite of NYS-approved tests that are in high demand for their quick turnaround times.
Brackmann believes that the acquisition will enhance NeoGenomics’ ability to capture market share in regions where rapid test delivery is crucial, potentially driving further sales of their advanced testing services. The transaction is expected to offer long-term returns through cost synergies, cross-selling opportunities, and increased market penetration. This move is indicative of NeoGenomics’ broader strategy to grow through targeted acquisitions and partnerships, leveraging their commercial infrastructure effectively.
According to TipRanks, Brackmann is a 2-star analyst with an average return of -2.6% and a 30.00% success rate. Brackmann covers the Healthcare sector, focusing on stocks such as Veracyte, NeoGenomics, and MDxHealth.