Canaccord Genuity Group Issues Positive Forecast for Exagen (NASDAQ:XGN) Stock Price

Exagen (NASDAQ:XGN) had its target price lifted by Canaccord Genuity Group from $7.00 to $8.00 in a research note published on Tuesday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other equities analysts have also weighed in on XGN. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $8.00 price objective on shares of Exagen in a research report on Monday, January 13th. BTIG Research reaffirmed a “buy” rating on shares of Exagen in a research report on Wednesday, May 7th. Finally, William Blair reissued an “outperform” rating on shares of Exagen in a research report on Wednesday, March 12th.

Exagen Price Performance

Shares of XGN opened at $5.63 on Tuesday. The firm has a market cap of $101.35 million, a PE ratio of -5.99 and a beta of 1.50. The firm’s 50 day moving average price is $4.65 and its 200 day moving average price is $4.16. The company has a debt-to-equity ratio of 1.54, a quick ratio of 4.05 and a current ratio of 4.05. Exagen has a twelve month low of $1.63 and a twelve month high of $7.20.

Exagen (NASDAQ:XGN) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, meeting the consensus estimate of ($0.20). The firm had revenue of $15.50 million for the quarter, compared to analyst estimates of $14.55 million. Exagen had a negative net margin of 30.36% and a negative return on equity of 92.58%. During the same quarter last year, the firm earned ($0.19) earnings per share. As a group, research analysts expect that Exagen will post -0.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Exagen

Institutional investors have recently modified their holdings of the company. Corient Private Wealth LLC bought a new position in shares of Exagen in the fourth quarter valued at approximately $45,000. Virtu Financial LLC bought a new position in shares of Exagen in the fourth quarter valued at approximately $46,000. Marshall Wace LLP bought a new position in shares of Exagen in the fourth quarter valued at approximately $66,000. Northern Trust Corp raised its position in shares of Exagen by 16.7% in the fourth quarter. Northern Trust Corp now owns 18,375 shares of the company’s stock valued at $75,000 after purchasing an additional 2,630 shares during the period. Finally, Huntleigh Advisors Inc. raised its position in shares of Exagen by 16.8% in the first quarter. Huntleigh Advisors Inc. now owns 83,108 shares of the company’s stock valued at $298,000 after purchasing an additional 11,939 shares during the period. Institutional investors own 75.25% of the company’s stock.

Exagen Company Profile

Exagen Inc develops and commercializes various testing products under the AVISE brand in the United States. The company enables healthcare providers 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).