BTIG downgraded Neogenomics (NASDAQ: NEO) from Buy to Neutral and removed its price target. Analyst Sean Lavin sees less compelling risk reward.

"Shares have risen 70% in less than a year. Our Buy thesis had been predicated on continued share gains, stable reimbursement, and attractive valuation – all of which have largely played out via a transformative acquisition and better Medicare reimbursement. We remain positive on the base NEO business and think downside risk is fairly modest. But, we do not see enough NT catalysts to drive meaningful upside fromhere; and with valuation fair, are less constructive on shares," said the analyst.

For an analyst ratings summary and ratings history on Neogenomics click here. For more ratings news on Neogenomics click here.

Shares of Neogenomics closed at $9.05 yesterday.