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

Exagen Inc. (NASDAQ:XGN) has been assigned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $9.25.

A number of analysts have recently issued reports on the stock. BTIG Research cut their target price on shares of Exagen from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. TD Cowen lowered their price objective on Exagen from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. UBS Group set a $10.00 price objective on Exagen in a research report on Wednesday, March 11th. Weiss Ratings cut Exagen from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, May 12th. Finally, KeyCorp lowered their price objective on Exagen from $15.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 11th.

Exagen Stock Performance

NASDAQ XGN opened at $4.67 on Friday. The firm has a 50-day moving average of $3.64 and a 200-day moving average of $4.39. 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 stock has a market cap of $112.83 million, a PE ratio of -5.25 and a beta of 2.02. Exagen has a 52-week low of $2.59 and a 52-week high of $12.23.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Bridgeway Capital Management LLC grew its position in Exagen by 10.3% during the second quarter. Bridgeway Capital Management LLC now owns 27,800 shares of the company’s stock worth $194,000 after buying an additional 2,600 shares in the last quarter. Truvestments Capital LLC grew its position in Exagen by 109.5% during the fourth quarter. Truvestments Capital LLC now owns 6,169 shares of the company’s stock worth $38,000 after buying an additional 3,225 shares in the last quarter. State Street Corp grew its position in Exagen by 6.9% during the fourth quarter. State Street Corp now owns 71,256 shares of the company’s stock worth $433,000 after buying an additional 4,600 shares in the last quarter. Palumbo Wealth Management LLC grew its position in Exagen by 15.2% during the fourth quarter. Palumbo Wealth Management LLC now owns 43,345 shares of the company’s stock worth $264,000 after buying an additional 5,718 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Exagen during the first quarter worth approximately $25,000. Institutional investors own 75.25% of the company’s stock.

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.