$NEOG

Several biotech stocks hit 52-week highs on September 16, 2026. BlossomHill Therapeutics rose 18% due to positive trial data. Adaptive Biotechnologies, Illumina, Ceribell, and Neogen also reached highs. Illumina will join the S&P 500 in September.

Biotech stocks BLSM, NEOG, ILMN, CBLL, and ADPT hit 52-week highs. BLSM rose 18% on positive trial data, NEOG grew 2% with Q4 revenue of $225M, ILMN reached $236 on 9.5% Q2 growth, CBLL hit $25.63 with Q2 revenue up 33%, and ADPT climbed 3% with full-year revenue forecast between $268M-$278M.

Neogen Chemicals fell 4% after launching a QIP to raise capital. Shankesh Jewellers rose 12% on strong Q1 earnings, with net profit doubling to ₹43.23 crore. KEI Industries dropped 3% after Jefferies cut its price target to ₹6,150, citing competitive risks. Broader indices were under pressure.

A U.S. District Court dismissed a securities class action against Neogen Corporation and its former executives, ruling that their statements about a $5.3B acquisition were not materially false or misleading. The case alleged misrepresentations about CRM and ERP system integrations and manufacturing delays. The stock dropped 9% in April 2024 and 29% in April 2025 due to disclosures.

Neogen Chemicals is transferring its LiPF6 business to subsidiary Neogen Morita New Materials for ₹245 crore, despite the unit having no revenue in FY26. The deal, expected to close by March 2027, involves assets and liabilities valued at ₹155.52 crore. Neogen Chemicals reported 34% revenue growth and 67% net profit increase in Q2 FY26.

UBS upgraded SolarEdge (SEDG) to Buy with a $42 target, citing FCC benefits. Wolfe upgraded DT Midstream (DTM) to Outperform with a $145 target. Piper upgraded Neogen (NEOG) to Overweight with a $14 target. UBS upgraded Argenx (ARGX) to Buy with a $1,400 target. National Bank upgraded Scotiabank (BNS) to Outperform with a C$142 target. JPMorgan and BofA downgraded Intuit (INTU) to Neutral with a $331 target. Truist downgraded Dick's Sporting (DKS) and Nike (NKE). Wells downgraded GoDaddy (GDDY).

Wall Street analysts issued upgrades, downgrades, and initiations for several companies. Upgrades include argenx (ARGX) to Buy at UBS, DT Midstream (DTM) to Outperform at Wolfe Research, and SolarEdge (SEDG) to Buy at UBS. Downgrades include Dick's Sporting Goods (DKS) to Hold at Truist, EPAM Systems (EPAM) to Neutral at JPMorgan, and Intuit (INTU) to Neutral at Bank of America. Initiations include Atlassian (TEAM) with Outperform at RBC, JFrog (FROG) with Outperform at RBC, and Lattice Semicond

Neogen Corporation (NEOG) stock rose 3.0% in pre-market trading after Piper Sandler upgraded it to Overweight and raised its price target to $14. The firm cited improved operating performance, accelerating growth in the Food Safety segment, and effective execution of a turnaround strategy. Neogen's recent earnings beat and raised guidance also contributed to the positive sentiment.

A Michigan federal judge dismissed an investor lawsuit against food safety company Neogen, which alleged Neogen hid postmerger financial problems tied to its combination with a division of 3M, according to the court. The ruling removes the claims related to alleged 3M integration and related disclosures.

Neogen (NEOG) reported fiscal Q4 2026 revenue of $225.3 million, up 4.3% in core growth, led by Food Safety. Adjusted gross margin rose to 49.7% and adjusted EBITDA grew 12% to $45.4 million. FY2027 guidance: revenue $880-$885 million and adjusted EBITDA $180-$182 million. The company plans a 50% R&D increase and a $140 million genomics divestiture for debt reduction.