Exagen (NASDAQ:XGN) Given “Buy” Rating at B. Riley

Exagen (NASDAQ:XGN)‘s stock had its “buy” rating reissued by stock analysts at B. Riley in a research report issued on Friday,Benzinga reports. They presently have a $8.00 price target on the stock, down from their previous price target of $18.00. B. Riley’s price objective suggests a potential upside of 102.53% from the stock’s current price.

Several other analysts also recently commented on XGN. Canaccord Genuity Group raised their target price on Exagen from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, October 27th. KeyCorp increased their price target on Exagen from $12.00 to $15.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. BTIG Research boosted their price objective on Exagen from $13.00 to $15.00 and gave the company a “buy” rating in a report on Monday, November 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Exagen in a report on Wednesday, January 21st. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.50.

Exagen Price Performance

Exagen stock opened at $3.95 on Friday. The stock has a market capitalization of $89.51 million, a price-to-earnings ratio of -4.29 and a beta of 1.86. Exagen has a 52-week low of $2.67 and a 52-week high of $12.23. The company has a debt-to-equity ratio of 1.35, a quick ratio of 4.08 and a current ratio of 4.08. The stock’s 50 day moving average price is $6.19 and its two-hundred day moving average price is $8.51.

Exagen (NASDAQ:XGN) last released its earnings results on Tuesday, November 4th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). The company had revenue of $17.24 million for the quarter, compared to analyst estimates of $16.90 million. Exagen had a negative net margin of 29.94% and a negative return on equity of 113.48%. On average, equities analysts predict that Exagen will post -0.88 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC purchased a new stake in Exagen in the 1st quarter valued at $25,000. Larson Financial Group LLC purchased a new position in Exagen during the 3rd quarter worth $105,000. JPMorgan Chase & Co. grew its stake in shares of Exagen by 320,280.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,019 shares of the company’s stock worth $176,000 after acquiring an additional 16,014 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Exagen in the fourth quarter valued at about $111,000. Finally, XTX Topco Ltd bought a new position in shares of Exagen during the second quarter valued at about $133,000. Hedge funds and other institutional investors own 75.25% of the company’s stock.

Exagen Company Profile

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.