Exagen Inc. (NASDAQ:XGN) Stock Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Exagen holds a “Moderate Buy” consensus rating from nine analysts: seven rate it a buy, one a strong buy and one a sell. The average 12-month price target is $9.75, with recent targets ranging from $8 to $12.
• Institutional investors own 75.25% of Exagen’s shares, with several funds recently initiating or increasing positions, including FourWorld Capital Management, Sei Investments and Flputnam Investment Management.
• Exagen’s shares opened at $8.56, up 1.7%, and have risen substantially from a 12-month low of $2.59. Its latest quarterly results exceeded expectations, with an adjusted loss of $0.13 per share versus the $0.19 consensus estimate and revenue of $19.94 million.

Exagen Inc. (NASDAQ:XGN - Get Free Report) has been assigned an average rating of "Moderate Buy" from the nine research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $9.75.

XGN has been the subject of a number of recent analyst reports. B. Riley Financial initiated coverage on shares of Exagen in a research report on Friday, September 11th. They issued a "buy" rating and a $12.00 price target for the company. Roth Capital started coverage on shares of Exagen in a research report on Wednesday, June 24th. They set a "buy" rating and a $8.00 price objective on the stock. Weiss Ratings restated a "sell (e+)" rating on shares of Exagen in a research report on Friday, August 7th. TD Cowen lifted their target price on shares of Exagen from $10.00 to $11.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, BTIG Research upped their target price on shares of Exagen from $8.00 to $9.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th.

Institutional Investors Weigh In On Exagen

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Flputnam Investment Management Co. bought a new position in shares of Exagen in the second quarter worth about $1,343,000. FourWorld Capital Management LLC raised its stake in Exagen by 61.2% during the 1st quarter. FourWorld Capital Management LLC now owns 439,950 shares of the company's stock valued at $1,320,000 after purchasing an additional 166,950 shares during the period. GSA Capital Partners LLP bought a new stake in Exagen during the 2nd quarter valued at approximately $998,000. Man Group plc purchased a new position in Exagen in the 2nd quarter worth approximately $778,000. Finally, Sei Investments Co. boosted its stake in Exagen by 107.0% in the 1st quarter. Sei Investments Co. now owns 244,240 shares of the company's stock worth $733,000 after purchasing an additional 126,235 shares during the period. 75.25% of the stock is owned by institutional investors.

Exagen Stock Up 1.7%

XGN stock opened at $8.56 on Friday. 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 $207.41 million, a P/E ratio of -10.57 and a beta of 2.12. The business's 50-day moving average price is $7.72 and its 200-day moving average price is $5.35.

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

About Exagen

Exagen Inc NASDAQ: XGN is a diagnostic healthcare company focused on autoimmune diseases. The company develops and commercializes blood tests designed to help physicians diagnose, differentiate and monitor conditions such as systemic lupus erythematosus, rheumatoid arthritis and other connective tissue diseases.

Exagen's principal product family is AVISE, a suite of proprietary autoimmune testing services that includes AVISE CTD, AVISE Lupus and monitoring tests. These assays combine multiple biomarkers and are intended to provide physicians with information that may support earlier or more informed clinical decisions, particularly in rheumatology.

Exagen operates a specialized laboratory testing business serving healthcare providers primarily in the United States.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.