Exagen Inc. (NASDAQ:XGN) Given Average Recommendation of “Moderate Buy” by Analysts

Exagen Inc. (NASDAQ:XGN) has earned an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $9.6250.

Several equities analysts have recently issued reports on XGN shares. Wall Street Zen raised shares of Exagen from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. TD Cowen boosted their price objective on shares of Exagen from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday. BTIG Research increased their price objective on Exagen from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday. Weiss Ratings lowered Exagen from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, May 12th. Finally, Canaccord Genuity Group cut their target price on Exagen from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, April 20th.

Exagen Stock Performance

Shares of XGN stock opened at $6.59 on Friday. The firm has a market capitalization of $159.68 million, a price-to-earnings ratio of -8.14 and a beta of 2.05. The company has a current ratio of 3.18, a quick ratio of 3.47 and a debt-to-equity ratio of 1.96. The business’s 50-day moving average price is $4.67 and its 200-day moving average price is $3.87. Exagen has a 12 month low of $2.59 and a 12 month high of $12.23.

Exagen (NASDAQ:XGN) last posted its earnings results on Tuesday, August 4th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.06. Exagen had a negative net margin of 26.61% and a negative return on equity of 104.46%. The business had revenue of $19.94 million for the quarter, compared to the consensus estimate of $17.80 million. Equities research analysts forecast that Exagen will post -0.69 EPS for the current year.

Institutional Trading of Exagen

Institutional investors have recently bought and sold shares of the company. Balyasny Asset Management L.P. lifted its stake in Exagen by 27.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 919,187 shares of the company’s stock valued at $5,589,000 after buying an additional 195,759 shares during the period. Vanguard Group Inc. raised its holdings in shares of Exagen by 7.7% during the third quarter. Vanguard Group Inc. now owns 733,824 shares of the company’s stock valued at $8,065,000 after purchasing an additional 52,205 shares during the period. Invesco Ltd. bought a new position in Exagen in the third quarter worth approximately $7,420,000. Kennedy Capital Management LLC lifted its holdings in shares of Exagen by 77.6% in the 3rd quarter. Kennedy Capital Management LLC now owns 551,848 shares of the company’s stock worth $6,065,000 after purchasing an additional 241,127 shares in the last quarter. Finally, Wexford Capital LP lifted its stake in shares of Exagen by 6.9% in the third quarter. Wexford Capital LP now owns 444,927 shares of the company’s stock valued at $4,890,000 after buying an additional 28,579 shares in the last quarter. Institutional investors own 75.25% of the company’s stock.

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.