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

Exagen Inc. (NASDAQ:XGN) has been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $12.50.

XGN has been the subject of a number of analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Exagen in a research note on Wednesday, January 21st. BTIG Research increased their target price on Exagen from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, November 10th. B. Riley Financial reaffirmed a “buy” rating and issued a $8.00 price target (down previously from $18.00) on shares of Exagen in a research note on Friday, January 30th. Canaccord Genuity Group upped their price target on Exagen from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Finally, KeyCorp increased their price objective on Exagen from $12.00 to $15.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th.

Hedge Funds Weigh In On Exagen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XGN. Acadian Asset Management LLC bought a new stake in shares of Exagen during the first quarter worth $25,000. Larson Financial Group LLC acquired a new stake in Exagen in the third quarter worth about $105,000. R Squared Ltd bought a new stake in Exagen during the 4th quarter worth about $111,000. XTX Topco Ltd acquired a new position in Exagen during the 2nd quarter valued at about $133,000. Finally, Occudo Quantitative Strategies LP bought a new position in shares of Exagen in the 2nd quarter valued at about $138,000. 75.25% of the stock is currently owned by institutional investors and hedge funds.

Exagen Price Performance

NASDAQ:XGN opened at $3.51 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 4.08 and a current ratio of 4.08. The company has a 50-day moving average of $5.70 and a 200-day moving average of $8.38. Exagen has a 52 week low of $2.67 and a 52 week high of $12.23. The company has a market capitalization of $79.54 million, a price-to-earnings ratio of -3.82 and a beta of 1.90.

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.