Exagen (NASDAQ:XGN) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Exagen was upgraded by Wall Street Zen from a “sell” to a “hold” rating, adding to a mixed but generally positive analyst picture for the stock.
• Other firms remain constructive: nine analysts have Buy ratings on Exagen, with a consensus rating of Moderate Buy and an average price target of $9.38.
• The stock recently traded around $2.95, far below its 52-week high of $12.23, while the company continues to post losses and expects -0.77 EPS for the year.

Exagen (NASDAQ:XGN - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

Several other analysts have also recently weighed in on the stock. William Blair reiterated an "outperform" rating on shares of Exagen in a report on Tuesday, March 10th. Craig Hallum cut their price target on shares of Exagen from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Wednesday, March 11th. Canaccord Genuity Group cut their price target on shares of Exagen from $10.00 to $8.00 and set a "buy" rating on the stock in a report on Monday, April 20th. UBS Group set a $10.00 price target on shares of Exagen in a report on Wednesday, March 11th. Finally, B. Riley Financial reiterated a "buy" rating and issued a $8.00 price target (down from $18.00) on shares of Exagen in a report on Friday, January 30th. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $9.38.

Exagen Stock Up 0.3%

Shares of Exagen stock opened at $2.95 on Friday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 3.45 and a current ratio of 3.45. Exagen has a 52-week low of $2.59 and a 52-week high of $12.23. The stock has a market capitalization of $71.22 million, a price-to-earnings ratio of -3.21 and a beta of 1.81. The company's 50 day moving average price is $3.06 and its 200-day moving average price is $5.46.

Exagen (NASDAQ:XGN - Get Free Report) last issued its earnings results on Tuesday, March 10th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). Exagen had a negative net margin of 29.97% and a negative return on equity of 105.03%. The firm had revenue of $16.63 million for the quarter, compared to analysts' expectations of $16.46 million. Equities research analysts forecast that Exagen will post -0.77 EPS for the current year.

Insiders Place Their Bets

In related news, CEO John Aballi sold 15,698 shares of Exagen stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $3.62, for a total value of $56,826.76. Following the sale, the chief executive officer owned 687,299 shares in the company, valued at $2,488,022.38. The trade was a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 12.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Exagen

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bridgeway Capital Management LLC lifted its position in Exagen by 10.3% during the second quarter. Bridgeway Capital Management LLC now owns 27,800 shares of the company's stock valued at $194,000 after buying an additional 2,600 shares during the period. Truvestments Capital LLC lifted its position in Exagen by 109.5% during the fourth quarter. Truvestments Capital LLC now owns 6,169 shares of the company's stock valued at $38,000 after buying an additional 3,225 shares during the period. State Street Corp lifted its position in Exagen by 6.9% during the fourth quarter. State Street Corp now owns 71,256 shares of the company's stock valued at $433,000 after buying an additional 4,600 shares during the period. Huntleigh Advisors Inc. grew its holdings in Exagen by 6.3% in the third quarter. Huntleigh Advisors Inc. now owns 93,353 shares of the company's stock worth $1,026,000 after purchasing an additional 5,492 shares during the period. Finally, Palumbo Wealth Management LLC increased its stake in shares of Exagen by 15.2% during the fourth quarter. Palumbo Wealth Management LLC now owns 43,345 shares of the company's stock valued at $264,000 after purchasing an additional 5,718 shares in the last quarter. Hedge funds and other institutional investors own 75.25% of the company's stock.

About Exagen

Exagen Inc is a molecular diagnostics company focused on improving the detection and management of autoimmune diseases. Headquartered in the United States, the company develops, manufactures and markets laboratory tests designed to help clinicians address diagnostic challenges associated with complex connective tissue disorders.

The company's flagship product portfolio, marketed under the Avise® brand, includes multi-analyte assays such as the Avise® Connective Tissue Disease (CTD) panel, Avise® Lupus panel and Avise® Sjögren's panel.

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