Exagen Inc. (NASDAQ:XGN) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Exagen holds a “Moderate Buy” consensus among nine analysts, with seven buy ratings, one strong-buy rating and one sell rating. The average 12-month price target is $9.625, including recent target increases from B. Riley and BTIG.
• In its latest quarter, Exagen reported an adjusted loss of $0.13 per share, beating estimates by $0.06, while revenue of $19.94 million exceeded expectations of $17.80 million. Analysts forecast a full-year loss of $0.67 per share.
• The stock opened at $7.67 and has risen above its 50-day and 200-day moving averages, while institutional investors own 75.25% of the company. Exagen remains unprofitable, with a negative net margin of 26.61% and negative return on equity of 104.46%.

Shares of Exagen Inc. (NASDAQ:XGN - Get Free Report) have been assigned an average rating of "Moderate Buy" from the nine analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $9.6250.

A number of analysts have weighed in on XGN shares. Weiss Ratings reiterated a "sell (e+)" rating on shares of Exagen in a research report on Friday, August 7th. Wall Street Zen upgraded shares of Exagen from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. B. Riley Financial reiterated a "buy" rating and set a $12.00 target price (up from $8.00) on shares of Exagen in a research report on Wednesday, August 5th. BTIG Research lifted their price target on shares of Exagen from $8.00 to $9.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Finally, Roth Capital initiated coverage on shares of Exagen in a research report on Wednesday, June 24th. They issued a "buy" rating and a $8.00 price target on the stock.

Exagen Stock Performance

NASDAQ XGN opened at $7.67 on Thursday. Exagen has a twelve month low of $2.59 and a twelve month high of $12.23. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 1.96. The stock has a market cap of $185.84 million, a P/E ratio of -9.47 and a beta of 2.05. The company's 50-day simple moving average is $5.38 and its 200 day simple moving average is $4.16.

Exagen (NASDAQ:XGN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.13) EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $19.94 million during the quarter, compared to analysts' expectations of $17.80 million. As a group, research analysts forecast that Exagen will post -0.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Truvestments Capital LLC increased its position in Exagen by 109.5% in the 4th quarter. Truvestments Capital LLC now owns 6,169 shares of the company's stock valued at $38,000 after acquiring an additional 3,225 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Exagen during the first quarter valued at approximately $25,000. Larson Financial Group LLC acquired a new stake in shares of Exagen in the third quarter valued at approximately $105,000. Corient Private Wealth LP bought a new position in Exagen in the 2nd quarter worth approximately $52,000. Finally, Persistent Asset Partners Ltd acquired a new position in Exagen during the 4th quarter worth $80,000. 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.

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