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

Exagen Inc. (NASDAQ:XGN) has earned an average recommendation of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $9.1111.

XGN has been the subject of a number of research reports. BTIG Research decreased their target price on Exagen from $9.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Canaccord Genuity Group dropped their price objective on shares of Exagen from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, April 20th. 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. Wall Street Zen raised shares of Exagen from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings downgraded shares of Exagen from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, May 12th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Acadian Asset Management LLC purchased a new stake in Exagen in the 1st quarter worth approximately $25,000. Truvestments Capital LLC increased its holdings in shares of Exagen by 109.5% during the 4th quarter. Truvestments Capital LLC now owns 6,169 shares of the company’s stock valued at $38,000 after purchasing an additional 3,225 shares in the last quarter. Persistent Asset Partners Ltd acquired a new stake in Exagen during the fourth quarter valued at $80,000. R Squared Ltd increased its holdings in Exagen by 49.0% in the first quarter. R Squared Ltd now owns 27,107 shares of the company’s stock valued at $81,000 after buying an additional 8,915 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Exagen in the fourth quarter valued at $82,000. 75.25% of the stock is owned by institutional investors and hedge funds.

Exagen Price Performance

Shares of NASDAQ XGN opened at $4.09 on Wednesday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 3.47 and a current ratio of 3.47. The company has a market cap of $98.81 million, a PE ratio of -4.60 and a beta of 2.02. The business has a 50-day simple moving average of $4.32 and a two-hundred day simple moving average of $3.97. Exagen has a fifty-two week low of $2.59 and a fifty-two week high of $12.23.

Exagen (NASDAQ:XGN) last released its earnings results on Monday, May 11th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.07. Exagen had a negative net margin of 29.49% and a negative return on equity of 94.37%. The company had revenue of $17.31 million for the quarter, compared to the consensus estimate of $16.41 million. As a group, equities analysts expect that Exagen will post -0.71 EPS for the current fiscal 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.