Exagen (NASDAQ:XGN) Upgraded by Roth Mkm to Strong-Buy Rating

Roth Mkm upgraded shares of Exagen (NASDAQ:XGN) to a strong-buy rating in a report issued on Wednesday morning,Zacks.com reports.

A number of other equities analysts have also issued reports on XGN. TD Cowen reduced their target price on shares of Exagen from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Canaccord Genuity Group lowered their price target on shares of Exagen from $10.00 to $8.00 and set a “buy” rating for the company in a report on Monday, April 20th. William Blair restated an “outperform” rating on shares of Exagen in a research report on Tuesday, March 10th. Weiss Ratings downgraded Exagen from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, May 12th. Finally, KeyCorp lowered their target price on Exagen from $15.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.11.

Exagen Trading Up 2.7%

Shares of XGN opened at $4.64 on Wednesday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 3.47 and a current ratio of 3.47. The company has a market cap of $112.10 million, a price-to-earnings ratio of -5.21 and a beta of 2.02. The stock has a fifty day moving average price of $3.90 and a two-hundred day moving average price of $4.18. Exagen has a 52-week low of $2.59 and a 52-week high of $12.23.

Exagen (NASDAQ:XGN) last announced its earnings results on Monday, May 11th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.07. The company had revenue of $17.31 million during the quarter, compared to analyst estimates of $16.41 million. Exagen had a negative return on equity of 94.37% and a negative net margin of 29.49%. Analysts predict that Exagen will post -0.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Exagen

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Perceptive Advisors LLC bought a new stake in Exagen in the 1st quarter valued at $345,000. FourWorld Capital Management LLC lifted its stake in shares of Exagen by 61.2% during the 1st quarter. FourWorld Capital Management LLC now owns 439,950 shares of the company’s stock worth $1,320,000 after buying an additional 166,950 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Exagen by 47.3% during the 1st quarter. Renaissance Technologies LLC now owns 203,272 shares of the company’s stock worth $610,000 after buying an additional 65,272 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Exagen by 107.0% during the 1st quarter. Sei Investments Co. now owns 244,240 shares of the company’s stock worth $733,000 after buying an additional 126,235 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Exagen by 137.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 62,571 shares of the company’s stock valued at $188,000 after buying an additional 36,213 shares during the last quarter. 75.25% of the stock is owned by institutional investors.

About Exagen

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.