TD Cowen Issues Pessimistic Forecast for Exagen (NASDAQ:XGN) Stock Price

Exagen (NASDAQ:XGN) had its price objective cut by TD Cowen from $13.00 to $10.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s target price indicates a potential upside of 164.06% from the stock’s previous close.

XGN has been the subject of a number of other research reports. Canaccord Genuity Group boosted their price target on Exagen from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Exagen in a research note on Wednesday, January 21st. B. Riley Financial restated a “buy” rating and set a $8.00 price target (down previously from $18.00) on shares of Exagen in a research note on Friday, January 30th. Finally, BTIG Research decreased their price objective on Exagen from $15.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.43.

Exagen Trading Up 2.4%

Shares of NASDAQ:XGN traded up $0.09 during midday trading on Tuesday, hitting $3.79. The company had a trading volume of 232,875 shares, compared to its average volume of 569,213. The stock has a market cap of $85.81 million, a price-to-earnings ratio of -4.12 and a beta of 1.90. Exagen has a 12 month low of $2.67 and a 12 month high of $12.23. The firm has a fifty day simple moving average of $4.86 and a 200 day simple moving average of $8.01. The company has a current ratio of 4.08, a quick ratio of 4.08 and a debt-to-equity ratio of 1.35.

Institutional Trading of Exagen

Several large investors have recently modified their holdings of the business. Acadian Asset Management LLC purchased a new stake in shares of Exagen in the 1st quarter worth $25,000. Truvestments Capital LLC raised its position in shares of Exagen by 109.5% during the 4th 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 in the last quarter. Persistent Asset Partners Ltd bought a new position in shares of Exagen during the 4th quarter valued at approximately $80,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Exagen during the fourth quarter valued at approximately $82,000. Finally, Jain Global LLC bought a new position in shares of Exagen in the fourth quarter worth about $82,000. 75.25% of the stock is owned by institutional investors.

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.