Exagen Inc. (NASDAQ:XGN) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• Exagen Inc. has received a consensus rating of "Buy" from seven analysts, with an average 12-month target price of $11.25.
• Institutional investors own 75.25% of Exagen's stock, with several firms recently acquiring new positions in the company.
• Exagen reported a revenue of $17.20 million in its latest quarter, exceeding analysts' expectations of $16.25 million.

Exagen Inc. (NASDAQ:XGN - Get Free Report) has earned a consensus rating of "Buy" from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have issued a report on the stock in the last year is $11.25.

Several equities research analysts have commented on the company. UBS Group reissued an "overweight" rating on shares of Exagen in a report on Thursday, May 15th. Canaccord Genuity Group increased their target price on Exagen from $8.00 to $11.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Craig Hallum assumed coverage on Exagen in a research report on Wednesday, July 23rd. They issued a "buy" rating and a $12.00 price target for the company. KeyCorp upgraded Exagen from a "sector weight" rating to an "overweight" rating and set a $12.00 price target for the company in a research report on Wednesday, July 30th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $10.00 target price on shares of Exagen in a research report on Wednesday, July 30th.

Institutional Investors Weigh In On Exagen

A number of institutional investors and hedge funds have recently modified their holdings of the business. Toronto Dominion Bank purchased a new position in shares of Exagen in the 4th quarter valued at $3,655,000. Balyasny Asset Management L.P. acquired a new position in Exagen in the 2nd quarter worth about $5,017,000. Driehaus Capital Management LLC acquired a new position in Exagen in the 4th quarter worth about $1,716,000. Russell Investments Group Ltd. purchased a new stake in Exagen during the 2nd quarter worth approximately $1,540,000. Finally, FourWorld Capital Management LLC purchased a new stake in shares of Exagen in the second quarter valued at approximately $1,456,000. 75.25% of the stock is owned by institutional investors.

Exagen Trading Up 1.5%

XGN stock opened at $9.49 on Friday. The company's 50-day simple moving average is $7.63 and its 200 day simple moving average is $5.81. The company has a market capitalization of $208.78 million, a PE ratio of -10.66 and a beta of 1.61. Exagen has a 52 week low of $2.38 and a 52 week high of $9.79. The company has a debt-to-equity ratio of 1.06, a quick ratio of 4.95 and a current ratio of 4.95.

Exagen (NASDAQ:XGN - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.18). Exagen had a negative return on equity of 130.38% and a negative net margin of 28.85%. The firm had revenue of $17.20 million for the quarter, compared to analysts' expectations of $16.25 million. As a group, sell-side analysts anticipate that Exagen will post -0.88 earnings per share for the current year.

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).

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