Exagen’s (XGN) Buy Rating Reiterated at B. Riley

B. Riley restated their buy rating on shares of Exagen (NASDAQ:XGN) in a research report sent to investors on Friday morning,Benzinga reports. They currently have a $8.00 target price on the stock, down from their previous target price of $18.00.

A number of other equities analysts have also issued reports on the company. Canaccord Genuity Group increased their price target on shares of Exagen from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, October 27th. KeyCorp increased their price objective on shares of Exagen from $12.00 to $15.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Exagen in a report on Wednesday, January 21st. Finally, BTIG Research upped their price target on shares of Exagen from $13.00 to $15.00 and gave the company a “buy” rating in a report on Monday, November 10th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Exagen currently has an average rating of “Moderate Buy” and an average price target of $12.50.

Exagen Trading Down 6.8%

Shares of NASDAQ XGN opened at $3.68 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 business’s 50 day moving average price is $6.12 and its 200-day moving average price is $8.51. Exagen has a fifty-two week low of $2.67 and a fifty-two week high of $12.23. The company has a market cap of $83.39 million, a price-to-earnings ratio of -4.00 and a beta of 1.90.

Exagen (NASDAQ:XGN) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). Exagen had a negative return on equity of 113.48% and a negative net margin of 29.94%.The firm had revenue of $17.24 million for the quarter, compared to the consensus estimate of $16.90 million. On average, sell-side analysts expect that Exagen will post -0.88 earnings per share for the current year.

Institutional Trading of Exagen

Several hedge funds have recently made changes to their positions in XGN. R Squared Ltd acquired a new stake in Exagen in the 4th quarter valued at approximately $111,000. Palumbo Wealth Management LLC grew its stake in shares of Exagen by 15.2% in the fourth quarter. Palumbo Wealth Management LLC now owns 43,345 shares of the company’s stock valued at $264,000 after buying an additional 5,718 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Exagen by 320,280.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,019 shares of the company’s stock valued at $176,000 after buying an additional 16,014 shares during the period. Wexford Capital LP raised its holdings in shares of Exagen by 6.9% in the 3rd quarter. Wexford Capital LP now owns 444,927 shares of the company’s stock valued at $4,890,000 after buying an additional 28,579 shares during the period. Finally, Susquehanna International Group LLP acquired a new position in Exagen during the 3rd quarter worth about $2,222,000. Hedge funds and other 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.