Exagen Inc. (NASDAQ:XGN) Receives Average Rating of "Buy" from Brokerages

Shares of Exagen Inc. (NASDAQ:XGN - Get Free Report) have received a consensus rating of "Buy" from the six research firms that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $9.00.

XGN has been the topic of several recent analyst reports. BTIG Research restated a "buy" rating on shares of Exagen in a research note on Wednesday, May 7th. Canaccord Genuity Group raised their price objective on shares of Exagen from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. UBS Group reaffirmed an "overweight" rating on shares of Exagen in a report on Thursday, May 15th. Cantor Fitzgerald cut their price target on Exagen from $8.00 to $7.00 and set an "overweight" rating for the company in a report on Thursday, May 15th. Finally, Craig Hallum began coverage on Exagen in a report on Wednesday. They issued a "buy" rating and a $12.00 price target for the company.

Exagen Stock Performance

Shares of NASDAQ XGN traded up $0.05 during midday trading on Wednesday, hitting $7.27. 95,646 shares of the company's stock were exchanged, compared to its average volume of 267,628. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.32 and a quick ratio of 2.32. The stock's 50 day moving average price is $6.98 and its 200-day moving average price is $5.25. The firm has a market cap of $154.85 million, a P/E ratio of -8.65 and a beta of 1.58. Exagen has a twelve month low of $1.78 and a twelve month high of $7.95.

Exagen (NASDAQ:XGN - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.20) EPS for the quarter, hitting analysts' consensus estimates of ($0.20). Exagen had a negative net margin of 27.34% and a negative return on equity of 133.69%. The firm had revenue of $15.50 million during the quarter, compared to analyst estimates of $14.55 million. During the same quarter last year, the business posted ($0.19) EPS. Equities research analysts anticipate that Exagen will post -0.88 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Northern Trust Corp grew its holdings in shares of Exagen by 16.7% during the fourth quarter. Northern Trust Corp now owns 18,375 shares of the company's stock worth $75,000 after purchasing an additional 2,630 shares in the last quarter. Virtu Financial LLC purchased a new position in Exagen in the 4th quarter worth approximately $46,000. Toronto Dominion Bank purchased a new position in Exagen in the 4th quarter worth approximately $3,655,000. Corient Private Wealth LLC purchased a new position in Exagen in the 4th quarter worth approximately $45,000. Finally, Marshall Wace LLP purchased a new position in Exagen in the 4th quarter worth approximately $66,000. 75.25% of the stock is owned by institutional investors.

Exagen Company Profile

Exagen Inc develops and commercializes various testing products under the AVISE brand in the United States. The company enables healthcare providers to care for patients through the diagnosis, prognosis, and monitoring of autoimmune and autoimmune-related diseases, including systemic lupus erythematosus (SLE) and rheumatoid arthritis (RA).