Exagen Inc. (NASDAQ:XGN) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Exagen Inc. (NASDAQ:XGN) have earned a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $9.6250.

A number of research firms have issued reports on XGN. TD Cowen increased their price target on Exagen from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday. Canaccord Genuity Group lowered their price objective on Exagen from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, April 20th. B. Riley Financial restated a “buy” rating and set a $12.00 target price (up from $8.00) on shares of Exagen in a research note on Wednesday. Roth Capital began coverage on shares of Exagen in a report on Wednesday, June 24th. They issued a “buy” rating and a $8.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Exagen from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th.

Exagen Stock Performance

Shares of XGN stock opened at $6.87 on Friday. The firm has a 50 day moving average of $4.71 and a two-hundred day moving average of $3.89. The stock has a market capitalization of $166.46 million, a PE ratio of -8.48 and a beta of 2.05. The company has a quick ratio of 3.47, a current ratio of 3.18 and a debt-to-equity ratio of 1.96. Exagen has a 52 week low of $2.59 and a 52 week high of $12.23.

Exagen (NASDAQ:XGN) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The business had revenue of $19.94 million for the quarter, compared to analyst estimates of $17.80 million. Exagen had a negative return on equity of 104.46% and a negative net margin of 26.61%. On average, research analysts predict that Exagen will post -0.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Exagen

Institutional investors have recently modified their holdings of the company. Truvestments Capital LLC increased its holdings in Exagen by 109.5% in the fourth quarter. Truvestments Capital LLC now owns 6,169 shares of the company’s stock valued at $38,000 after buying an additional 3,225 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Exagen during the 1st quarter worth about $25,000. Larson Financial Group LLC acquired a new position in shares of Exagen during the 3rd quarter worth about $105,000. Persistent Asset Partners Ltd purchased a new position in shares of Exagen in the 4th quarter valued at about $80,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Exagen in the 4th quarter valued at about $82,000. 75.25% of the stock is owned by hedge funds and other institutional investors.

Exagen Company Profile

Exagen Inc is a molecular diagnostics company focused on improving the detection and management of autoimmune diseases. Headquartered in the United States, the company develops, manufactures and markets laboratory tests designed to help clinicians address diagnostic challenges associated with complex connective tissue disorders.

The company’s flagship product portfolio, marketed under the Avise® brand, includes multi-analyte assays such as the Avise® Connective Tissue Disease (CTD) panel, Avise® Lupus panel and Avise® Sjögren’s panel.