The research firm expressed skepticism about Neogenomics' long-range plan, which maintains a 12-13% year-over-year revenue growth target but will be "de-emphasized" according to the new CEO's explanation during the Q2 earnings call. While the company achieved 10.1% revenue growth in the last twelve months, InvestingPro data shows challenging metrics, including an extremely high EV/EBITDA multiple of 1,406x. BTIG questioned whether Neogenomics' product offerings align with pharmaceutical companies' needs, noting that while some competitors continue to grow, Neogenomics has experienced declining performance for an extended period. Additional concerns highlighted in the downgrade include Neogenomics' "freedom to operate" in minimal residual disease (MRD) testing and challenges in establishing a stronger position in comprehensive genomic profiling, liquid biopsy, and next-generation sequencing markets where well-funded competitors already have established presences.