Exagen (NASDAQ:XGN) Receives “Buy” Rating from B. Riley

B. Riley restated their buy rating on shares of Exagen (NASDAQ:XGN) in a research note released on Friday morning,Benzinga reports. The firm currently has a $8.00 price objective on the stock, down from their prior price objective of $18.00.

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

Exagen Trading Down 6.8%

NASDAQ XGN opened at $3.68 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 4.08 and a quick ratio of 4.08. The stock has a market capitalization of $83.39 million, a P/E ratio of -4.00 and a beta of 1.86. The firm’s 50-day moving average is $6.12 and its two-hundred day moving average is $8.49. Exagen has a 12 month low of $2.67 and a 12 month high of $12.23.

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

Institutional Investors Weigh In On Exagen

A number of hedge funds have recently bought and sold shares of XGN. Acadian Asset Management LLC acquired a new position in shares of Exagen during the first quarter worth about $25,000. Larson Financial Group LLC purchased a new position in Exagen in the third quarter worth approximately $105,000. R Squared Ltd acquired a new position in Exagen during the 4th quarter worth approximately $111,000. XTX Topco Ltd acquired a new position in Exagen during the 2nd quarter worth approximately $133,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of Exagen in the 2nd quarter valued at approximately $138,000. Institutional investors and hedge funds own 75.25% of the company’s stock.

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.