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

Shares of Exagen Inc. (NASDAQ:XGN) have received an average rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and eight have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $9.25.

A number of research analysts recently weighed in on XGN shares. KeyCorp dropped their price objective on Exagen from $15.00 to $10.00 and set an “overweight” rating on the stock in a report on Wednesday, March 11th. UBS Group set a $10.00 target price on Exagen in a report on Wednesday, March 11th. BTIG Research decreased their target price on shares of Exagen from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Weiss Ratings cut shares of Exagen from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen upgraded shares of Exagen from a “sell” rating to a “hold” rating in a report on Saturday, May 9th.

Exagen Price Performance

Exagen stock opened at $4.54 on Friday. Exagen has a twelve month low of $2.59 and a twelve month high of $12.23. The stock has a 50 day moving average of $3.78 and a two-hundred day moving average of $4.28. The company has a current ratio of 3.47, a quick ratio of 3.47 and a debt-to-equity ratio of 1.67. The stock has a market capitalization of $109.69 million, a price-to-earnings ratio of -5.10 and a beta of 2.02.

Exagen (NASDAQ:XGN) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.17) earnings per share 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 return on equity of 94.37% and a negative net margin of 29.49%. As a group, research analysts expect that Exagen will post -0.68 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in XGN. Balyasny Asset Management L.P. boosted its stake in shares of Exagen by 27.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 919,187 shares of the company’s stock worth $5,589,000 after acquiring an additional 195,759 shares in the last quarter. Vanguard Group Inc. increased its stake in Exagen by 7.7% in the 3rd quarter. Vanguard Group Inc. now owns 733,824 shares of the company’s stock valued at $8,065,000 after purchasing an additional 52,205 shares in the last quarter. Invesco Ltd. acquired a new position in Exagen during the third quarter worth $7,420,000. Kennedy Capital Management LLC raised its holdings in Exagen by 77.6% during the third quarter. Kennedy Capital Management LLC now owns 551,848 shares of the company’s stock worth $6,065,000 after purchasing an additional 241,127 shares during the last quarter. Finally, Wexford Capital LP boosted its position in Exagen by 6.9% during the third quarter. Wexford Capital LP now owns 444,927 shares of the company’s stock worth $4,890,000 after purchasing an additional 28,579 shares in the last quarter. 75.25% of the stock is owned by hedge funds and other 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.