Exagen Inc. (NASDAQ:XGN) Receives $9.62 Average PT from Analysts

Shares of Exagen Inc. (NASDAQ:XGN) have been given a consensus rating of “Moderate Buy” by the nine ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $9.6250.

A number of equities analysts have issued reports on the stock. B. Riley Financial reissued a “buy” rating and issued a $12.00 target price (up from $8.00) on shares of Exagen in a report on Wednesday, August 5th. Roth Capital assumed coverage on Exagen in a report on Wednesday, June 24th. They set a “buy” rating and a $8.00 target price for the company. TD Cowen increased their price target on Exagen from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. BTIG Research increased their price target on Exagen from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Exagen in a report on Friday, August 7th.

Institutional Investors Weigh In On Exagen

A number of hedge funds have recently added to or reduced their stakes in XGN. Acadian Asset Management LLC acquired a new position in shares of Exagen during the first quarter valued at $25,000. Geode Capital Management LLC increased its holdings in shares of Exagen by 45.6% in the 2nd quarter. Geode Capital Management LLC now owns 146,483 shares of the company’s stock worth $1,023,000 after acquiring an additional 45,884 shares during the period. XTX Topco Ltd bought a new stake in Exagen in the 2nd quarter valued at about $133,000. Russell Investments Group Ltd. bought a new stake in Exagen in the 2nd quarter valued at about $1,540,000. Finally, Occudo Quantitative Strategies LP bought a new stake in Exagen in the 2nd quarter valued at about $138,000. 75.25% of the stock is currently owned by institutional investors.

Exagen Stock Down 1.7%

XGN stock opened at $7.39 on Thursday. The company has a debt-to-equity ratio of 1.96, a current ratio of 3.18 and a quick ratio of 3.18. Exagen has a 1-year low of $2.59 and a 1-year high of $12.23. The firm has a fifty day moving average price of $5.50 and a two-hundred day moving average price of $4.21. The firm has a market cap of $179.06 million, a price-to-earnings ratio of -9.12 and a beta of 2.05.

Exagen (NASDAQ:XGN) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. Exagen had a negative net margin of 26.61% and a negative return on equity of 104.46%. The company had revenue of $19.94 million for the quarter, compared to the consensus estimate of $17.80 million. Research analysts predict that Exagen will post -0.67 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.