BTIG Research Issues Pessimistic Forecast for Exagen (NASDAQ:XGN) Stock Price

Exagen (NASDAQ:XGN) had its price target dropped by equities researchers at BTIG Research from $15.00 to $10.00 in a research report issued on Tuesday, MarketBeat.com reports. The firm currently has a “buy” rating on the stock. BTIG Research’s target price would suggest a potential upside of 204.88% from the stock’s previous close.

A number of other analysts have also issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Exagen in a research report on Wednesday, January 21st. B. Riley Financial reissued a “buy” rating and set a $8.00 target price (down previously from $18.00) on shares of Exagen in a research note on Friday, January 30th. Finally, Canaccord Genuity Group boosted their price target on shares of Exagen from $11.00 to $15.00 and gave the company a “buy” rating in a report on Monday, October 27th. Eight analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.67.

Exagen Price Performance

XGN opened at $3.28 on Tuesday. The firm has a market capitalization of $74.33 million, a P/E ratio of -3.57 and a beta of 1.90. The stock has a fifty day moving average of $5.08 and a 200-day moving average of $8.13. The company has a quick ratio of 4.08, a current ratio of 4.08 and a debt-to-equity ratio of 1.35. Exagen has a 12-month low of $2.67 and a 12-month high of $12.23.

Hedge Funds Weigh In On Exagen

Several institutional investors have recently bought and sold shares of the stock. Truvestments Capital LLC boosted its stake in shares of Exagen by 109.5% during the 4th quarter. Truvestments Capital LLC now owns 6,169 shares of the company’s stock worth $38,000 after acquiring an additional 3,225 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Exagen in the 1st quarter worth approximately $25,000. Larson Financial Group LLC bought a new stake in Exagen during the third quarter worth approximately $105,000. Persistent Asset Partners Ltd acquired a new position in Exagen during the fourth quarter valued at approximately $80,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Exagen in the fourth quarter valued at approximately $82,000. 75.25% of the stock is currently owned by institutional investors.

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.