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

Key Points

• Exagen Inc. has received a consensus rating of "Buy" from seven research firms, with an average target price of $11.25 for the stock.
• The company recently reported $17.20 million in revenue for the quarter, surpassing analysts' expectations of $16.25 million.
• Institutional investors own 75.25% of Exagen’s stock, indicating strong confidence from major stakeholders in the company's performance.

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

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

Institutional Investors Weigh In On Exagen

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Toronto Dominion Bank acquired a new stake in shares of Exagen in the fourth quarter valued at about $3,655,000. Balyasny Asset Management L.P. purchased a new stake in Exagen during the 2nd quarter valued at about $5,017,000. Russell Investments Group Ltd. purchased a new stake in Exagen during the 2nd quarter valued at about $1,540,000. FourWorld Capital Management LLC acquired a new stake in Exagen in the 2nd quarter valued at about $1,456,000. Finally, Manatuck Hill Partners LLC acquired a new stake in Exagen in the 2nd quarter valued at about $1,222,000. Institutional investors and hedge funds own 75.25% of the company's stock.

Exagen Stock Down 1.7%

Exagen stock opened at $9.63 on Thursday. The stock has a market capitalization of $211.86 million, a PE ratio of -10.82 and a beta of 1.60. Exagen has a 12 month low of $2.38 and a 12 month high of $10.34. The business has a 50 day simple moving average of $8.58 and a 200-day simple moving average of $6.47. The company has a debt-to-equity ratio of 1.06, a current ratio of 4.95 and a quick ratio of 4.95.

Exagen (NASDAQ:XGN - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 analyst estimates of $16.25 million. Exagen has set its FY 2025 guidance at EPS. On average, analysts anticipate that Exagen will post -0.88 EPS for the current fiscal year.

About Exagen

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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