Exagen (NASDAQ:XGN) Earns Sell (D-) Rating from Weiss Ratings

Key Points

• Exagen's stock has been assigned a "sell (D-)" rating by Weiss Ratings, reflecting some analyst concerns about the company's performance.
• Despite the sell rating from Weiss, multiple analysts have recently issued "buy" ratings with target prices ranging from $10 to $15, indicating mixed sentiment toward Exagen's future potential.
• The company reported revenue of $17.20 million last quarter, exceeding expectations, while also meeting analyst estimates for earnings per share at ($0.18).

Exagen (NASDAQ:XGN - Get Free Report)'s stock had its "sell (d-)" rating restated by analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

A number of other analysts have also recently issued reports on XGN. B. Riley started coverage on Exagen in a research report on Thursday, September 11th. They issued a "buy" rating and a $15.00 price objective for the company. Craig Hallum started coverage on Exagen in a research report on Wednesday, July 23rd. They issued a "buy" rating and a $12.00 price objective for the company. Canaccord Genuity Group increased their target price on Exagen from $8.00 to $11.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. KeyCorp upgraded Exagen from a "sector weight" rating to an "overweight" rating and set a $12.00 target price on the stock in a research note 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 note on Wednesday, July 30th. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Exagen currently has an average rating of "Moderate Buy" and a consensus target price of $12.00.

Exagen Stock Down 0.1%

NASDAQ XGN traded down $0.01 during trading hours on Wednesday, hitting $10.95. 52,899 shares of the company traded hands, compared to its average volume of 228,969. Exagen has a twelve month low of $2.38 and a twelve month high of $11.17. The stock has a market capitalization of $240.81 million, a price-to-earnings ratio of -12.32 and a beta of 1.54. The business's 50-day moving average is $9.78 and its 200-day moving average is $7.40. 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 released its quarterly earnings data 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 company had revenue of $17.20 million during the quarter, compared to analysts' expectations of $16.25 million. Exagen has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Exagen will post -0.88 earnings per share for the current year.

Hedge Funds Weigh In On Exagen

Hedge funds and other institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC bought a new position in shares of Exagen in the 1st quarter valued at $25,000. XTX Topco Ltd acquired a new stake in shares of Exagen during the 2nd quarter valued at $133,000. Occudo Quantitative Strategies LP acquired a new stake in shares of Exagen during the 2nd quarter valued at $138,000. Bridgeway Capital Management LLC boosted its holdings in shares of Exagen by 10.3% during the 2nd quarter. Bridgeway Capital Management LLC now owns 27,800 shares of the company's stock valued at $194,000 after acquiring an additional 2,600 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of Exagen during the 2nd quarter valued at $217,000. Institutional investors 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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.