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.

Research analysts at B. Riley began coverage on shares of Exagen (NASDAQ:XGN - Get Free Report) in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm set a "buy" rating and a $15.00 price target on the stock. B. Riley's price objective would indicate a potential upside of 63.84% from the company's previous close.

A number of other brokerages have also commented on XGN. Craig Hallum started coverage on shares of Exagen in a research report on Wednesday, July 23rd. They set a "buy" rating and a $12.00 price objective for the company. Canaccord Genuity Group upped their price objective on shares of Exagen from $8.00 to $11.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. KeyCorp raised shares of Exagen from a "sector weight" rating to an "overweight" rating and set a $12.00 price objective for the company in a research report on Wednesday, July 30th. 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. Finally, UBS Group reaffirmed an "overweight" rating on shares of Exagen in a research report on Thursday, May 15th. Eight equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $12.00.

Exagen Stock Performance

Exagen stock traded down $0.16 on Thursday, reaching $9.16. 32,438 shares of the stock were exchanged, compared to its average volume of 226,621. The firm has a fifty day moving average price of $8.75 and a two-hundred day moving average price of $6.64. The stock has a market cap of $201.41 million, a PE ratio of -10.29 and a beta of 1.60. The company has a current ratio of 4.95, a quick ratio of 4.95 and a debt-to-equity ratio of 1.06. Exagen has a twelve month low of $2.38 and a twelve month high of $10.34.

Exagen (NASDAQ:XGN - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported ($0.18) EPS for the quarter, meeting analysts' consensus estimates of ($0.18). The business 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. Sell-side analysts anticipate that Exagen will post -0.88 EPS for the current year.

Institutional Trading of Exagen

Large investors have recently added to or reduced their stakes in the company. Northern Trust Corp grew its stake in shares of Exagen by 16.7% during the fourth quarter. Northern Trust Corp now owns 18,375 shares of the company's stock valued at $75,000 after purchasing an additional 2,630 shares during the last quarter. Toronto Dominion Bank bought a new stake in shares of Exagen during the fourth quarter valued at approximately $3,655,000. Palumbo Wealth Management LLC grew its stake in shares of Exagen by 14.4% during the first quarter. Palumbo Wealth Management LLC now owns 99,205 shares of the company's stock valued at $356,000 after purchasing an additional 12,501 shares during the last quarter. Huntleigh Advisors Inc. grew its stake in shares of Exagen by 16.8% during the first quarter. Huntleigh Advisors Inc. now owns 83,108 shares of the company's stock valued at $298,000 after purchasing an additional 11,939 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Exagen during the second quarter valued at approximately $133,000. 75.25% of the stock is owned by institutional investors.

Exagen Company Profile

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).