Cantor Fitzgerald Cuts Exagen (NASDAQ:XGN) Price Target to $7.00

Exagen (NASDAQ:XGN) had its target price lowered by Cantor Fitzgerald from $8.00 to $7.00 in a research report report published on Thursday morning,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

Several other equities research analysts have also issued reports on the stock. Canaccord Genuity Group lifted their target price on shares of Exagen from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Tuesday. William Blair reaffirmed an “outperform” rating on shares of Exagen in a report on Wednesday, March 12th. Finally, BTIG Research reissued a “buy” rating on shares of Exagen in a research note on Wednesday, May 7th.

Exagen Price Performance

Shares of NASDAQ:XGN opened at $5.74 on Thursday. Exagen has a 12 month low of $1.71 and a 12 month high of $7.20. The company has a current ratio of 4.05, a quick ratio of 4.05 and a debt-to-equity ratio of 1.54. The stock has a market cap of $122.26 million, a P/E ratio of -6.11 and a beta of 1.50. The company has a 50 day moving average of $4.76 and a 200 day moving average of $4.19.

Exagen (NASDAQ:XGN) last released its quarterly earnings results 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 analysts’ expectations of $14.55 million. Exagen had a negative return on equity of 92.58% and a negative net margin of 30.36%. During the same quarter last year, the firm posted ($0.19) EPS. As a group, sell-side analysts forecast that Exagen will post -0.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Exagen

A number of hedge funds have recently made changes to their positions in XGN. Virtu Financial LLC bought a new position in shares of Exagen during the 4th quarter valued at $46,000. Corient Private Wealth LLC bought a new position in Exagen during the 4th quarter worth approximately $45,000. Marshall Wace LLP purchased a new position in shares of Exagen in the fourth quarter worth $66,000. Driehaus Capital Management LLC bought a new stake in Exagen in the 4th quarter worth $1,716,000. Finally, Geode Capital Management LLC raised its stake in shares of Exagen by 11.9% during the fourth quarter. Geode Capital Management LLC now owns 98,057 shares of the company’s stock valued at $402,000 after acquiring an additional 10,442 shares during the last quarter. 75.25% of the stock is currently owned by institutional investors.

About Exagen

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).