Exagen Inc. (NASDAQ:XGN) Stock Has Average Target Price of $9.75

Exagen Inc. (NASDAQ:XGN) has received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $9.75.

Several research analysts have weighed in on the stock. BTIG Research upped their price objective on shares of Exagen from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Roth Capital initiated coverage on shares of Exagen in a research note on Wednesday, June 24th. They issued a “buy” rating and a $8.00 price objective on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Exagen in a report on Friday, August 7th. TD Cowen lifted their price objective on shares of Exagen from $10.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, October 13th. Finally, B. Riley Financial started coverage on shares of Exagen in a research report on Friday, September 11th. They set a “buy” rating and a $12.00 target price for the company.

Hedge Funds Weigh In On Exagen

Several large investors have recently added to or reduced their stakes in XGN. Flputnam Investment Management Co. bought a new stake in Exagen during the 2nd quarter worth approximately $1,343,000. FourWorld Capital Management LLC raised its stake in shares of Exagen by 61.2% in the first quarter. FourWorld Capital Management LLC now owns 439,950 shares of the company’s stock worth $1,320,000 after purchasing an additional 166,950 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Exagen in the second quarter worth approximately $998,000. Man Group plc purchased a new stake in shares of Exagen in the second quarter worth approximately $778,000. Finally, Sei Investments Co. raised its stake in shares of Exagen by 107.0% in the first quarter. Sei Investments Co. now owns 244,240 shares of the company’s stock worth $733,000 after purchasing an additional 126,235 shares during the last quarter. Institutional investors own 75.25% of the company’s stock.

Exagen Stock Performance

NASDAQ XGN opened at $7.72 on Friday. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 1.96. Exagen has a 52 week low of $2.59 and a 52 week high of $12.23. The business has a 50 day moving average price of $7.74 and a 200-day moving average price of $5.38. The company has a market cap of $187.06 million, a price-to-earnings ratio of -9.53 and a beta of 2.12.

Exagen (NASDAQ:XGN) last issued its 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 return on equity of 104.46% and a negative net margin of 26.61%. The company had revenue of $19.94 million for the quarter, compared to analysts’ expectations of $17.80 million. As a group, equities analysts expect that Exagen will post -0.69 earnings per share for the current fiscal year.

About Exagen

Exagen Inc (NASDAQ: XGN) is a diagnostic healthcare company focused on autoimmune diseases. The company develops and commercializes blood tests designed to help physicians diagnose, differentiate and monitor conditions such as systemic lupus erythematosus, rheumatoid arthritis and other connective tissue diseases.

Exagen’s principal product family is AVISE, a suite of proprietary autoimmune testing services that includes AVISE CTD, AVISE Lupus and monitoring tests. These assays combine multiple biomarkers and are intended to provide physicians with information that may support earlier or more informed clinical decisions, particularly in rheumatology.

Exagen operates a specialized laboratory testing business serving healthcare providers primarily in the United States.