Neogen

NEOG · NASDAQ

$11.72+$0.09 (+0.77%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $11.63

NEOG analyst rating

BuyConsensus of 3 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy3
Hold0
Underperform0
Sell0

12-month price target · 6 analysts

Average $13.32 (+13.6% upside)

Low: $10.32
Now: $11.72
High: $14.70

Upgrades and downgrades

The latest rating actions, newest first

NEOG analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Guggenheim	Sep 30, 2026	Maintains	Buy	$12.00 → $14.00	66%
Piper Sandler	Aug 26, 2026	Upgrade	Neutral → Overweight	$13.00 → $14.00	58%
Piper Sandler	Aug 3, 2026	Maintains	Neutral	$11.00 → $13.00	58%
Piper Sandler	Jan 12, 2026	Maintains	Neutral	$6.50 → $10.00	58%
Guggenheim	Jan 9, 2026	Maintains	Buy	$8.00 → $12.00	66%
CJS Securities	Dec 10, 2025	Upgrade	Market Perform → Market Outperform	$10.00	100%

The case for and against

Updated Oct 16, 2026

Bull case

Neogen is viewed positively because its turnaround is showing concrete operating improvement, including several consecutive quarters of better performance, accelerating Food Safety growth, improving adjusted EBITDA margins, and positive free cash flow, with $26.2 million generated in the fourth quarter and fiscal 2026 ending with positive free cash flow. The investment case is also strengthened by restored product availability, a more disciplined and scalable commercial strategy, and new management that is fixing historically controllable execution issues rather than facing a deteriorating underlying market. Longer term, Petrifilm’s manufacturing transition targeted for November 2026, the 10%-12% penetrated market, and opportunities for 200-300 bps of margin expansion and broader cross-selling support durable profitable growth.

Bear case

Neogen is facing a negative fundamental setup because it has committed significant capital to manufacturing Petrifilm while the ramp may take longer than expected, delaying payback and pressuring returns on invested capital. The finalization of 3M assets and personnel integration could disrupt operations and production, raise expenses, and make it harder to realize the benefits of a much larger organization. In addition, the 3M transaction left the company with higher debt, higher interest expense, and less liquidity, while its cyclical food and animal safety markets remain exposed to inflation, food production volumes, and intense competition if top-line growth does not accelerate.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.