Analysts Set Exagen Inc. (NASDAQ:XGN) Price Target at $12.50

Exagen Inc. (NASDAQ:XGN) has been given an average recommendation of “Moderate Buy” by the nine research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $12.50.

A number of brokerages have recently issued reports on XGN. Canaccord Genuity Group raised their price objective on Exagen from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. B. Riley Financial reiterated a “buy” rating and issued a $8.00 target price (down from $18.00) on shares of Exagen in a report on Friday, January 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Exagen in a report on Wednesday, January 21st. Finally, BTIG Research raised their price target on shares of Exagen from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, November 10th.

Institutional Investors Weigh In On Exagen

Several large investors have recently added to or reduced their stakes in XGN. Bridgeway Capital Management LLC lifted its holdings in shares of Exagen by 10.3% during the 2nd quarter. Bridgeway Capital Management LLC now owns 27,800 shares of the company’s stock worth $194,000 after acquiring an additional 2,600 shares during the last quarter. Calamos Advisors LLC grew its stake in Exagen by 3.5% in the third quarter. Calamos Advisors LLC now owns 78,090 shares of the company’s stock worth $858,000 after purchasing an additional 2,677 shares during the period. Huntleigh Advisors Inc. lifted its holdings in shares of Exagen by 5.7% during the second quarter. Huntleigh Advisors Inc. now owns 87,861 shares of the company’s stock valued at $613,000 after purchasing an additional 4,753 shares during the last quarter. Palumbo Wealth Management LLC boosted its holdings in Exagen by 15.2% in the fourth quarter. Palumbo Wealth Management LLC now owns 43,345 shares of the company’s stock worth $264,000 after acquiring an additional 5,718 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in Exagen in the 1st quarter worth about $25,000. Hedge funds and other institutional investors own 75.25% of the company’s stock.

Exagen Stock Down 1.8%

Shares of NASDAQ XGN opened at $3.24 on Friday. The stock has a 50-day moving average price of $5.38 and a two-hundred day moving average price of $8.27. The company has a market cap of $73.42 million, a price-to-earnings ratio of -3.52 and a beta of 1.90. Exagen has a 12 month low of $2.67 and a 12 month high of $12.23. The company has a current ratio of 4.08, a quick ratio of 4.08 and a debt-to-equity ratio of 1.35.

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.