Exagen (NASDAQ:XGN) Price Target Raised to $9.00

Exagen (NASDAQ:XGN) had its price target raised by BTIG Research from $8.00 to $9.00 in a research report sent to investors on Wednesday morning,Benzinga reports. BTIG Research currently has a buy rating on the stock.

XGN has been the subject of a number of other research reports. Weiss Ratings cut shares of Exagen from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, May 12th. Roth Capital assumed coverage on shares of Exagen in a research report on Wednesday, June 24th. They set a “buy” rating and a $8.00 price objective for the company. Wall Street Zen upgraded Exagen from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Canaccord Genuity Group cut their price objective on Exagen from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Exagen has a consensus rating of “Moderate Buy” and a consensus target price of $9.62.

Exagen Stock Up 4.2%

Shares of NASDAQ XGN opened at $6.87 on Wednesday. The stock has a market capitalization of $166.46 million, a P/E ratio of -8.48 and a beta of 2.05. The stock’s fifty day moving average is $4.71 and its 200 day moving average is $3.89. Exagen has a 52 week low of $2.59 and a 52 week high of $12.23. The company has a debt-to-equity ratio of 1.96, a quick ratio of 3.47 and a current ratio of 3.18.

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

Institutional Trading of Exagen

Several hedge funds have recently modified their holdings of the stock. FourWorld Capital Management LLC raised its position in Exagen by 61.2% in the first quarter. FourWorld Capital Management LLC now owns 439,950 shares of the company’s stock worth $1,320,000 after acquiring an additional 166,950 shares during the period. Perceptive Advisors LLC bought a new position in shares of Exagen during the 1st quarter valued at approximately $345,000. Nano Cap New Millennium Growth Fund L P purchased a new stake in shares of Exagen during the 4th quarter worth approximately $1,520,000. R Squared Ltd bought a new stake in shares of Exagen in the 4th quarter worth approximately $111,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Exagen by 320,280.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,019 shares of the company’s stock worth $176,000 after purchasing an additional 16,014 shares during the period. Institutional investors 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.