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

Exagen Inc. (NASDAQ:XGN) has been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $9.1111.

XGN has been the subject of several recent research reports. Roth Capital initiated coverage on Exagen in a report on Wednesday, June 24th. They issued a “buy” rating and a $8.00 price target for the company. Weiss Ratings lowered Exagen from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, May 12th. BTIG Research reduced their price target on Exagen from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Craig Hallum decreased their price target on Exagen from $12.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. Finally, Canaccord Genuity Group lowered their price objective on shares of Exagen from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, April 20th.

Institutional Investors Weigh In On Exagen

Large investors have recently added to or reduced their stakes in the company. Truvestments Capital LLC lifted its holdings in Exagen by 109.5% in the 4th 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. Acadian Asset Management LLC purchased a new position in Exagen in the 1st quarter valued at about $25,000. Larson Financial Group LLC acquired a new stake in shares of Exagen during the third quarter valued at about $105,000. Persistent Asset Partners Ltd acquired a new stake in shares of Exagen during the fourth quarter valued at about $80,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Exagen during the fourth quarter worth about $82,000. 75.25% of the stock is owned by institutional investors and hedge funds.

Exagen Trading Up 9.1%

NASDAQ XGN opened at $4.80 on Wednesday. Exagen has a one year low of $2.59 and a one year high of $12.23. The company’s 50 day moving average price is $4.17 and its 200 day moving average price is $4.05. 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 firm has a market capitalization of $115.97 million, a price-to-earnings ratio of -5.39 and a beta of 2.02.

Exagen (NASDAQ:XGN) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.07. Exagen had a negative net margin of 29.49% and a negative return on equity of 94.37%. The company had revenue of $17.31 million during the quarter, compared to the consensus estimate of $16.41 million. On average, sell-side analysts predict that Exagen will post -0.71 EPS for the current year.

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.