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

Key Points

• Exagen has a “Moderate Buy” consensus rating from nine analysts, with seven buys, one strong buy and one sell. The average 12-month price target is $9.00, versus a recent share price of $4.53.
• The company beat quarterly expectations, reporting an adjusted loss of $0.17 per share versus the expected $0.24 loss, while revenue reached $17.31 million against estimates of $16.41 million.
• Institutional investors own approximately 75.25% of Exagen’s stock, although the company remains unprofitable, with a negative net margin of 29.49% and analysts expecting a full-year loss of $0.71 per share.

Exagen Inc. (NASDAQ:XGN - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $9.00.

Several analysts recently issued reports on XGN shares. Weiss Ratings lowered shares of Exagen from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, May 12th. Wall Street Zen upgraded shares of Exagen from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Canaccord Genuity Group dropped their target price on shares of Exagen from $10.00 to $8.00 and set a "buy" rating for the company in a report on Monday, April 20th. Roth Capital began coverage on Exagen in a research note on Wednesday, June 24th. They set a "buy" rating and a $8.00 price target on the stock. Finally, BTIG Research dropped their price objective on Exagen from $9.00 to $8.00 and set a "buy" rating for the company in a research note on Tuesday, May 12th.

Exagen Price Performance

XGN stock opened at $4.53 on Friday. Exagen has a 52-week low of $2.59 and a 52-week high of $12.23. The company has a quick ratio of 3.47, a current ratio of 3.47 and a debt-to-equity ratio of 1.67. The stock has a market cap of $109.44 million, a price-to-earnings ratio of -5.09 and a beta of 2.02. The business has a fifty day moving average of $4.56 and a two-hundred day moving average of $3.85.

Exagen (NASDAQ:XGN - Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.07. The business had revenue of $17.31 million for the quarter, compared to analyst estimates of $16.41 million. Exagen had a negative return on equity of 94.37% and a negative net margin of 29.49%. As a group, research analysts anticipate that Exagen will post -0.71 earnings per share for the current year.

Institutional Trading of Exagen

Institutional investors and hedge funds have recently bought and sold shares of the business. Balyasny Asset Management L.P. purchased a new stake in Exagen during the 2nd quarter worth approximately $5,017,000. Invesco Ltd. purchased a new position in Exagen in the 3rd quarter valued at approximately $7,420,000. Mink Brook Asset Management LLC grew its stake in shares of Exagen by 784.3% in the fourth quarter. Mink Brook Asset Management LLC now owns 353,727 shares of the company's stock worth $2,151,000 after acquiring an additional 313,727 shares in the last quarter. Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Exagen in the fourth quarter worth $1,520,000. Finally, Millennium Management LLC purchased a new stake in shares of Exagen during the third quarter worth $2,716,000. 75.25% of the stock is currently owned by hedge funds and other institutional investors.

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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