Exagen (NASDAQ:XGN) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Exagen (NASDAQ:XGNGet Rating) from a sell rating to a hold rating in a report released on Thursday morning, Zacks.com reports.

According to Zacks, “Exagen Inc. is engaged in transforming the care continuum for patients suffering from debilitating and chronic autoimmune diseases. It developed and commercialises testing products under AVISE brand. Exagen Inc. is based in Vista, California. “

Other equities analysts also recently issued research reports about the company. Canaccord Genuity Group cut their price objective on Exagen from $20.00 to $17.00 and set a buy rating on the stock in a research report on Thursday, May 12th. KeyCorp cut their price objective on Exagen from $30.00 to $20.00 and set an overweight rating on the stock in a research report on Friday, March 25th. Finally, BTIG Research reaffirmed a buy rating and issued a $13.00 price objective on shares of Exagen in a research report on Friday, May 13th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Buy and an average target price of $16.67.

XGN opened at $4.78 on Thursday. The firm has a 50-day simple moving average of $6.73 and a two-hundred day simple moving average of $8.73. Exagen has a 52 week low of $4.15 and a 52 week high of $17.58. The company has a market capitalization of $77.70 million, a PE ratio of -2.63 and a beta of 0.90. The company has a quick ratio of 8.72, a current ratio of 8.72 and a debt-to-equity ratio of 0.36.

Exagen (NASDAQ:XGNGet Rating) last released its quarterly earnings data on Wednesday, May 11th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.01). Exagen had a negative net margin of 64.26% and a negative return on equity of 35.51%. During the same quarter in the prior year, the company posted ($0.48) EPS. As a group, sell-side analysts expect that Exagen will post -2.04 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cowen AND Company LLC grew its position in shares of Exagen by 90.7% during the 3rd quarter. Cowen AND Company LLC now owns 1,384,631 shares of the company’s stock worth $18,831,000 after buying an additional 658,553 shares in the last quarter. Wasatch Advisors Inc. grew its position in shares of Exagen by 0.7% during the 4th quarter. Wasatch Advisors Inc. now owns 1,105,760 shares of the company’s stock worth $12,860,000 after buying an additional 7,502 shares in the last quarter. RTW Investments LP grew its position in shares of Exagen by 20.5% during the 1st quarter. RTW Investments LP now owns 990,143 shares of the company’s stock worth $7,951,000 after buying an additional 168,729 shares in the last quarter. Stonepine Capital Management LLC grew its position in shares of Exagen by 119.8% during the 4th quarter. Stonepine Capital Management LLC now owns 858,567 shares of the company’s stock worth $9,985,000 after buying an additional 467,930 shares in the last quarter. Finally, Morgan Stanley grew its position in shares of Exagen by 36.7% during the 3rd quarter. Morgan Stanley now owns 498,587 shares of the company’s stock worth $6,781,000 after buying an additional 133,723 shares in the last quarter. 74.02% of the stock is currently owned by institutional investors and hedge funds.

Exagen Company Profile (Get Rating)

Exagen Inc develops and commercializes various testing products based on its cell-bound complement activation products technology under the AVISE brand in the United States. It enables rheumatologists to care for patients through the diagnosis, prognosis, and monitoring of autoimmune and autoimmune-related diseases, including systemic lupus erythematosus (SLE) and rheumatoid arthritis (RA).

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