Exagen Inc. (NASDAQ:XGN) Receives $9.62 Average Target Price from Analysts

Exagen Inc. (NASDAQ:XGN) has been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $9.6250.

XGN has been the subject of a number of recent analyst reports. BTIG Research increased their price objective on Exagen from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. B. Riley Financial initiated coverage on Exagen in a research report on Friday, September 11th. They set a “buy” rating and a $12.00 price target for the company. Roth Capital assumed coverage on Exagen in a research note on Wednesday, June 24th. They issued a “buy” rating and a $8.00 price target for the company. TD Cowen raised their price target on Exagen from $8.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Exagen in a research note on Friday, August 7th.

Institutional Trading of Exagen

A number of hedge funds and other institutional investors have recently made changes to their positions in XGN. GSA Capital Partners LLP acquired a new position in shares of Exagen during the second quarter valued at approximately $998,000. Flputnam Investment Management Co. bought a new stake in Exagen during the second quarter worth approximately $1,343,000. Man Group plc acquired a new stake in Exagen in the second quarter worth approximately $778,000. FourWorld Capital Management LLC lifted its position in Exagen by 61.2% in the first quarter. FourWorld Capital Management LLC now owns 439,950 shares of the company’s stock worth $1,320,000 after purchasing an additional 166,950 shares during the period. Finally, BlackRock Inc. bought a new position in Exagen during the 2nd quarter valued at $663,000. 75.25% of the stock is currently owned by institutional investors.

Exagen Trading Down 2.2%

NASDAQ:XGN opened at $8.55 on Monday. Exagen has a 12-month low of $2.59 and a 12-month high of $12.23. The firm has a market capitalization of $207.17 million, a P/E ratio of -10.56 and a beta of 2.10. The company has a debt-to-equity ratio of 1.96, a current ratio of 3.18 and a quick ratio of 3.18. The business has a 50 day simple moving average of $6.64 and a 200 day simple moving average of $4.75.

Exagen (NASDAQ:XGN) last released 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. 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 analysts’ expectations of $17.80 million. Equities research analysts predict that Exagen will post -0.69 EPS for the current year.

About Exagen

Exagen Inc (NASDAQ:XGN) is a commercial-stage diagnostics company focused on autoimmune diseases. The company develops and provides blood-based testing services intended to help healthcare professionals diagnose, differentiate and manage systemic autoimmune conditions, particularly lupus and related rheumatic diseases.

Exagen’s flagship testing platform is AVISE, a panel-based diagnostic approach that combines multiple autoantibody and biomarker measurements. Its offerings include AVISE CTD, which supports the evaluation of connective tissue diseases, and AVISE Lupus, which is designed to help distinguish systemic lupus erythematosus from other autoimmune conditions.