Stephens raised the firm’s price target on NeoGenomics (NEO) to $11 from $6.50 and keeps an Overweight rating on the shares after the company announced that a North Carolina district court ruled in the company’s favor in the litigation with Natera (NTRA). The ruling grants NeoGenomics the ability to broadly commercialize RaDaR ST and removes an overhang, says the analyst, who believes the decision strengthens NeoGenomics’ positioning in oncology and helps to support more durable growth.
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