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

Shares of Exagen Inc. (NASDAQ:XGN) have been assigned an average rating of “Moderate Buy” from the nine ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $9.6250.

Several analysts have recently weighed in on XGN shares. Weiss Ratings restated a “sell (e+)” rating on shares of Exagen in a research note on Friday, August 7th. BTIG Research boosted their price target on Exagen from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. TD Cowen increased their price target on Exagen from $8.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. B. Riley Financial restated a “buy” rating and set a $12.00 price objective (up from $8.00) on shares of Exagen in a research note on Wednesday, August 5th. Finally, Roth Capital initiated coverage on Exagen in a report on Wednesday, June 24th. They set a “buy” rating and a $8.00 price objective on the stock.

Exagen Stock Down 0.7%

NASDAQ XGN opened at $7.34 on Thursday. 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 fifty-two week low of $2.59 and a fifty-two week high of $12.23. The business has a 50 day moving average price of $5.55 and a two-hundred day moving average price of $4.24. The stock has a market cap of $177.85 million, a PE ratio of -9.06 and a beta of 2.05.

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

Institutional Trading of Exagen

Hedge funds have recently made changes to their positions in the stock. Flputnam Investment Management Co. acquired a new stake in Exagen in the second quarter valued at $1,343,000. Corient Private Wealth LP acquired a new stake in shares of Exagen in the 2nd quarter valued at about $52,000. Man Group plc acquired a new stake in shares of Exagen in the 2nd quarter valued at about $778,000. BlackRock Inc. bought a new position in shares of Exagen during the second quarter worth about $663,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Exagen during the second quarter worth about $97,000. Institutional investors and hedge funds own 75.25% of the company’s stock.

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.