Exagen (NASDAQ:XGN) Now Covered by B. Riley

Key Points

• B. Riley has initiated coverage on Exagen (NASDAQ:XGN), setting a "buy" rating and a price target of $15.00, indicating a potential upside of 55.76% from the stock's previous close.
• Exagen's stock has a market capitalization of $211.86 million, with a price-to-earnings ratio of -10.82 and a recent closing price of $9.63.
• The company's latest earnings report revealed a revenue of $17.20 million, exceeding analyst estimates, despite a net margin of -28.85% and an EPS of -$0.18.

Investment analysts at B. Riley assumed coverage on shares of Exagen (NASDAQ:XGN - Get Free Report) in a research note issued to investors on Thursday,Benzinga reports. The firm set a "buy" rating and a $15.00 price target on the stock. B. Riley's price objective points to a potential upside of 55.76% from the stock's previous close.

Several other equities analysts have also weighed in on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $10.00 price objective on shares of Exagen in a research report on Wednesday, July 30th. Craig Hallum began coverage on shares of Exagen in a research note on Wednesday, July 23rd. They set a "buy" rating and a $12.00 price target on the stock. Canaccord Genuity Group lifted their price objective on Exagen from $8.00 to $11.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. KeyCorp raised Exagen from a "sector weight" rating to an "overweight" rating and set a $12.00 price target for the company in a report on Wednesday, July 30th. Finally, UBS Group reaffirmed an "overweight" rating on shares of Exagen in a report on Thursday, May 15th. Eight equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $12.00.

Exagen Stock Down 1.7%

Shares of NASDAQ:XGN opened at $9.63 on Thursday. The stock has a market capitalization of $211.86 million, a price-to-earnings ratio of -10.82 and a beta of 1.60. Exagen has a 1-year low of $2.38 and a 1-year high of $10.34. The company's fifty day moving average is $8.58 and its two-hundred day moving average is $6.47. 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 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). The firm had revenue of $17.20 million during the quarter, compared to analyst estimates of $16.25 million. Exagen had a negative net margin of 28.85% and a negative return on equity of 130.38%. Exagen has set its FY 2025 guidance at EPS. Equities analysts anticipate that Exagen will post -0.88 EPS for the current year.

Hedge Funds Weigh In On Exagen

Several institutional investors and hedge funds have recently modified their holdings of the business. Northern Trust Corp lifted its stake in Exagen by 16.7% in the 4th quarter. Northern Trust Corp now owns 18,375 shares of the company's stock valued at $75,000 after acquiring an additional 2,630 shares in the last quarter. Toronto Dominion Bank acquired a new position in shares of Exagen during the 4th quarter worth approximately $3,655,000. Palumbo Wealth Management LLC increased its holdings in shares of Exagen by 14.4% during the 1st quarter. Palumbo Wealth Management LLC now owns 99,205 shares of the company's stock worth $356,000 after acquiring an additional 12,501 shares during the last quarter. Huntleigh Advisors Inc. increased its holdings in shares of Exagen by 16.8% during the 1st quarter. Huntleigh Advisors Inc. now owns 83,108 shares of the company's stock worth $298,000 after acquiring an additional 11,939 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Exagen during the 2nd quarter worth approximately $133,000. 75.25% of the stock is currently owned by institutional investors and hedge funds.

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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