Brokerages Set Exagen Inc. (NASDAQ:XGN) Target Price at $9.25

Shares of Exagen Inc. (NASDAQ:XGN) have earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $9.25.

Several equities analysts have issued reports on the stock. Weiss Ratings cut shares of Exagen from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, May 12th. KeyCorp decreased their price target on Exagen from $15.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, March 11th. UBS Group set a $10.00 price target on Exagen in a research note on Wednesday, March 11th. Canaccord Genuity Group decreased their price target on Exagen from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Finally, BTIG Research decreased their price target on Exagen from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th.

Institutional Investors Weigh In On Exagen

Institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC acquired a new stake in shares of Exagen during the first quarter worth $25,000. Geode Capital Management LLC increased its position in shares of Exagen by 45.6% during the second quarter. Geode Capital Management LLC now owns 146,483 shares of the company’s stock worth $1,023,000 after buying an additional 45,884 shares during the period. XTX Topco Ltd acquired a new stake in shares of Exagen during the second quarter worth $133,000. Russell Investments Group Ltd. acquired a new stake in shares of Exagen during the second quarter worth $1,540,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of Exagen during the second quarter worth $138,000. Institutional investors and hedge funds own 75.25% of the company’s stock.

Exagen Trading Down 6.6%

Shares of NASDAQ XGN opened at $4.25 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 3.47 and a current ratio of 3.47. Exagen has a 52-week low of $2.59 and a 52-week high of $12.23. The firm has a 50 day moving average price of $3.72 and a two-hundred day moving average price of $4.30. The stock has a market cap of $102.68 million, a P/E ratio of -4.78 and a beta of 2.02.

Exagen (NASDAQ:XGN) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.07. Exagen had a negative net margin of 29.49% and a negative return on equity of 94.37%. The firm had revenue of $17.31 million during the quarter, compared to analysts’ expectations of $16.41 million. As a group, equities analysts forecast that Exagen will post -0.68 EPS for the current year.

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.