Exagen Inc. (NASDAQ:XGN) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts give Exagen a “Moderate Buy” consensus: Seven analysts rate the stock a buy, one rates it a strong buy, and one recommends selling. The average 12-month price target is $9.625, above the reported $8.41 opening price.
• Institutional ownership is substantial at 75.25%. Several institutions recently initiated or increased positions, including Corient Private Wealth, Bank of New York Mellon, and R Squared.
• Exagen exceeded quarterly expectations, reporting an adjusted loss of $0.13 per share versus the expected $0.19 loss and revenue of $19.94 million versus the $17.80 million consensus estimate. Despite the beat, the company remains unprofitable, with a negative net margin and analysts projecting a full-year loss.

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

A number of equities analysts recently issued reports on the company. Weiss Ratings reiterated a "sell (e+)" rating on shares of Exagen in a report on Friday, August 7th. B. Riley Financial started coverage on shares of Exagen in a research report on Friday, September 11th. They issued a "buy" rating and a $12.00 price target on the stock. BTIG Research lifted their price target on Exagen from $8.00 to $9.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Roth Capital started coverage on Exagen in a report on Wednesday, June 24th. They set a "buy" rating and a $8.00 price objective for the company. Finally, TD Cowen increased their price objective on Exagen from $8.00 to $10.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th.

Institutional Investors Weigh In On Exagen

Institutional investors have recently bought and sold shares of the stock. Corient Private Wealth LP bought a new position in Exagen during the 2nd quarter valued at $52,000. Bank of New York Mellon Corp bought a new stake in shares of Exagen in the 2nd quarter worth $97,000. R Squared Ltd grew its stake in shares of Exagen by 49.0% in the 1st quarter. R Squared Ltd now owns 27,107 shares of the company's stock worth $81,000 after acquiring an additional 8,915 shares in the last quarter. State of Wyoming purchased a new stake in shares of Exagen in the fourth quarter valued at about $231,000. Finally, T3 Companies LLC purchased a new stake in shares of Exagen in the fourth quarter valued at about $347,000. Institutional investors own 75.25% of the company's stock.

Exagen Price Performance

XGN stock opened at $8.41 on Monday. The stock's 50 day simple moving average is $6.37 and its 200 day simple moving average is $4.64. The company has a market cap of $203.77 million, a P/E ratio of -10.38 and a beta of 2.10. The company has a debt-to-equity ratio of 1.96, a quick ratio of 3.18 and a current ratio of 3.18. Exagen has a fifty-two week low of $2.59 and a fifty-two week high of $12.23.

Exagen (NASDAQ:XGN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.13) EPS for the quarter, beating analysts' consensus estimates of ($0.19) by $0.06. The firm had revenue of $19.94 million during the quarter, compared to analysts' expectations of $17.80 million. Exagen had a negative return on equity of 104.46% and a negative net margin of 26.61%. On average, research analysts expect that Exagen will post -0.69 earnings per share for the current fiscal year.

About Exagen

Exagen Inc NASDAQ: XGN is a commercial-stage diagnostics company focused on autoimmune diseases. The company develops and provides blood-based testing services intended to help healthcare professionals diagnose, differentiate and manage systemic autoimmune conditions, particularly lupus and related rheumatic diseases.

Exagen's flagship testing platform is AVISE, a panel-based diagnostic approach that combines multiple autoantibody and biomarker measurements. Its offerings include AVISE CTD, which supports the evaluation of connective tissue diseases, and AVISE Lupus, which is designed to help distinguish systemic lupus erythematosus from other autoimmune conditions.

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