Exagen (NASDAQ:XGN) Now Covered by Analysts at Craig Hallum

Craig Hallum began coverage on shares of Exagen (NASDAQ:XGN - Free Report) in a research note issued to investors on Wednesday, MarketBeat reports. The firm issued a buy rating and a $12.00 price objective on the stock.

XGN has been the topic of several other research reports. BTIG Research restated a "buy" rating on shares of Exagen in a research note on Wednesday, May 7th. Canaccord Genuity Group upped their price objective on Exagen from $7.00 to $8.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. UBS Group restated an "overweight" rating on shares of Exagen in a research note on Thursday, May 15th. Finally, Cantor Fitzgerald dropped their price objective on Exagen from $8.00 to $7.00 and set an "overweight" rating on the stock in a research note on Thursday, May 15th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Exagen presently has a consensus rating of "Buy" and an average price target of $9.00.

Exagen Price Performance

XGN traded up $0.05 during trading on Wednesday, hitting $7.27. The company's stock had a trading volume of 95,646 shares, compared to its average volume of 267,628. The stock has a market capitalization of $154.85 million, a price-to-earnings ratio of -8.65 and a beta of 1.58. Exagen has a 12 month low of $1.78 and a 12 month high of $7.95. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 2.87. The firm's 50 day moving average price is $6.98 and its two-hundred day moving average price is $5.25.

Exagen (NASDAQ:XGN - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.20). Exagen had a negative return on equity of 133.69% and a negative net margin of 27.34%. The firm had revenue of $15.50 million during the quarter, compared to the consensus estimate of $14.55 million. During the same quarter in the prior year, the firm posted ($0.19) EPS. Sell-side analysts forecast that Exagen will post -0.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Exagen

A number of hedge funds have recently added to or reduced their stakes in XGN. Acadian Asset Management LLC purchased a new position in Exagen in the first quarter valued at approximately $25,000. Huntleigh Advisors Inc. raised its holdings in Exagen by 16.8% during the 1st quarter. Huntleigh Advisors Inc. now owns 83,108 shares of the company's stock valued at $298,000 after acquiring an additional 11,939 shares during the period. Palumbo Wealth Management LLC raised its holdings in Exagen by 14.4% during the 1st quarter. Palumbo Wealth Management LLC now owns 99,205 shares of the company's stock valued at $356,000 after acquiring an additional 12,501 shares during the period. Toronto Dominion Bank bought a new stake in Exagen during the 4th quarter valued at $3,655,000. Finally, Driehaus Capital Management LLC bought a new stake in Exagen during the 4th quarter valued at $1,716,000. Institutional investors and hedge funds own 75.25% of the company's stock.

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).