Roth Mkm Upgrades Exagen (NASDAQ:XGN) to “Strong-Buy”

Exagen (NASDAQ:XGN) was upgraded by equities research analysts at Roth Mkm to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Several other analysts have also weighed in on the company. Canaccord Genuity Group cut their price objective on Exagen from $10.00 to $8.00 and set a “buy” rating for the company in a report on Monday, April 20th. Weiss Ratings downgraded shares of Exagen from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, May 12th. William Blair restated an “outperform” rating on shares of Exagen in a research report on Tuesday, March 10th. TD Cowen dropped their target price on shares of Exagen from $13.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Finally, BTIG Research cut their target price on shares of Exagen from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.11.

Exagen Price Performance

Shares of NASDAQ XGN opened at $4.64 on Wednesday. The stock has a market cap of $112.10 million, a P/E ratio of -5.21 and a beta of 2.02. The firm’s 50-day simple moving average is $3.90 and its 200 day simple moving average is $4.18. Exagen has a fifty-two week low of $2.59 and a fifty-two week high of $12.23. The company has a quick ratio of 3.47, a current ratio of 3.47 and a debt-to-equity ratio of 1.67.

Exagen (NASDAQ:XGN) last released its earnings results on Monday, May 11th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.07. The firm had revenue of $17.31 million for the quarter, compared to analysts’ expectations of $16.41 million. Exagen had a negative net margin of 29.49% and a negative return on equity of 94.37%. Equities analysts expect that Exagen will post -0.68 EPS for the current year.

Institutional Trading of Exagen

A number of hedge funds have recently bought and sold shares of XGN. Nano Cap New Millennium Growth Fund L P acquired a new position in Exagen during the fourth quarter valued at $1,520,000. R Squared Ltd purchased a new stake in Exagen in the 4th quarter worth about $111,000. JPMorgan Chase & Co. boosted its position in Exagen by 320,280.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,019 shares of the company’s stock worth $176,000 after acquiring an additional 16,014 shares during the period. Palumbo Wealth Management LLC grew its stake in Exagen by 15.2% during the 4th quarter. Palumbo Wealth Management LLC now owns 43,345 shares of the company’s stock valued at $264,000 after acquiring an additional 5,718 shares in the last quarter. Finally, EHP Funds Inc. purchased a new position in Exagen during the 3rd quarter valued at about $998,000. 75.25% of the stock is owned by hedge funds and other institutional investors.

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.