NGNM | Doubling Since July 4, Is NeoGenomics Headed To $5?

NGNM stock, NeogenomicsCheap penny stock traders that aren’t willing to look at anything above a dime are missing the fireworks NeoGenomics, Inc. (NGNM) has been displaying since July 4th. Covered by analysts at Craig Hallum since August 22nd with a “buy” rating and a $5.00 price target, NGNM stock has nearly doubled since Independence Day and the celebrations are far from over. With net income and a 50% increase in revenues in the first 6 months of 2012, this cancer-focused testing laboratory company could give investors better than 50% more from its current level based on Hallum’s forecast.

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NGNM stock, NeogenomicsNGNM Stock Chart

Market Cap: 135.94M
Close: 3.01, down -0.01 (-0.33%)
Volume: 322,797
Dollar Volume: $965,713
High: 3.03
Low: 2.95
Trades: 92
Average Trade Size: 3,508
Authorized: 100,000,000
Issued and Outstanding: 45,162,863

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From February to early July, NGNM stock traded relatively flat which is likely why Tushar Shah and Stephen J. Clearman, the co-managing members of Kinderhook GP, LLC, increased their holdings to 4,848,334 shares at the the 1.65 – 1.70 range. (see here) The reason: NeoGenomics is banking some serious coin.

For the three months and six months ended June 30, 2012, NeoGenomics reported net revenues of  $15.61 million and $30.77 million, respectively, compared to $10.47 million and $19.27 million, respectively, for the same periods in 2011. gross profits for the six months ended increased by nearly $6 million during the first six months of 2012 to $14.51 million compared to $8.52 million for the first six months of 2011.

With their latest proprietary software that the Company developed for reading and interpreting Fluorescent in Situ Hybridization (“FISH”) digital data to further automate certain FISH analyses in its own laboratories, the revenues models of efficiency could be multiplied if the Company sub-licenses it to other providers.  Add the growth and new software together and NGNM is a no brainer for a steady stream of increased bottom line numbers and PPS.

About NGNM Stock

NeoGenomics, Inc., and its subsidiary, NeoGenomics Laboratories, Inc., operates as a certified “high complexity” clinical laboratory in accordance with the federal government’s Clinical Laboratory Improvement Act, as amended, and is dedicated to the delivery of clinical diagnostic services to pathologists, oncologists, urologists, hospitals, and other laboratories throughout the United States.

Bottom Line: This penny stock may take more than the time allowed by mst impatient traders to hit the target level Craig Hallum issued them, but NGNM is one to have on the list. NGNM stock has nearly doubled in the last two months and is a serious candidate to establish a base above the $3 level before embarking on its journey to $4 or better.

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