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

Shares of Exagen Inc. (NASDAQ:XGN) have received a consensus rating of “Moderate Buy” from the nine brokerages that are covering the company, Marketbeat reports. One 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 1 year target price among brokers that have updated their coverage on the stock in the last year is $9.6250.

A number of brokerages have recently commented on XGN. BTIG Research raised their price objective on shares of Exagen from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Wall Street Zen raised shares of Exagen from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. B. Riley Financial restated a “buy” rating and set a $12.00 price target (up from $8.00) on shares of Exagen in a research report on Wednesday, August 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Exagen in a report on Friday, August 7th. Finally, TD Cowen upped their price objective on shares of Exagen from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th.

Hedge Funds Weigh In On Exagen

Institutional investors and hedge funds have recently modified their holdings of the business. Balyasny Asset Management L.P. purchased a new position in Exagen during the second quarter worth approximately $5,017,000. Invesco Ltd. purchased a new stake in shares of Exagen in the third quarter valued at approximately $7,420,000. Mink Brook Asset Management LLC raised its stake in shares of Exagen by 784.3% during the 4th quarter. Mink Brook Asset Management LLC now owns 353,727 shares of the company’s stock worth $2,151,000 after buying an additional 313,727 shares during the period. Flputnam Investment Management Co. acquired a new position in shares of Exagen during the 2nd quarter worth approximately $1,343,000. Finally, Nano Cap New Millennium Growth Fund L P purchased a new position in shares of Exagen during the 4th quarter valued at approximately $1,520,000. Hedge funds and other institutional investors own 75.25% of the company’s stock.

Exagen Price Performance

Shares of XGN opened at $7.51 on Thursday. The business’s 50-day moving average is $5.67 and its two-hundred day moving average is $4.30. The company has a market capitalization of $181.97 million, a P/E ratio of -9.27 and a beta of 2.10. The company has a debt-to-equity ratio of 1.96, a quick ratio of 3.18 and a current ratio of 3.18. Exagen has a fifty-two week low of $2.59 and a fifty-two week high of $12.23.

Exagen (NASDAQ:XGN) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $19.94 million during the quarter, compared to analysts’ expectations of $17.80 million. Research analysts predict that Exagen will post -0.67 earnings per share for the current year.

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.