Exagen Inc. (NASDAQ:XGN) Stock Has Average Target Price of $9.62

Shares of Exagen Inc. (NASDAQ:XGN) have earned an average rating of “Moderate Buy” from the nine research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $9.62.

Several equities analysts have commented on the stock. B. Riley Financial assumed coverage on shares of Exagen in a research report on Friday, September 11th. They issued a “buy” rating and a $12.00 price target for the company. TD Cowen upped their price objective on Exagen from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. BTIG Research lifted their target price on Exagen from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Roth Capital began coverage on Exagen in a research note on Wednesday, June 24th. They set a “buy” rating and a $8.00 target price for the company. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Exagen in a report on Friday, August 7th.

Exagen Stock Performance

NASDAQ XGN opened at $8.72 on Monday. The company has a debt-to-equity ratio of 1.96, a current ratio of 3.18 and a quick ratio of 3.18. The company has a market cap of $211.29 million, a P/E ratio of -10.77 and a beta of 2.10. The stock has a 50-day moving average of $6.82 and a two-hundred day moving average of $4.82. Exagen has a 1-year low of $2.59 and a 1-year high of $12.23.

Exagen (NASDAQ:XGN) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.06. The business had revenue of $19.94 million for the quarter, compared to analysts’ expectations of $17.80 million. Exagen had a negative net margin of 26.61% and a negative return on equity of 104.46%. As a group, analysts anticipate that Exagen will post -0.69 EPS for the current year.

Institutional Trading of Exagen

A number of large investors have recently made changes to their positions in the company. Flputnam Investment Management Co. acquired a new stake in Exagen in the second quarter valued at approximately $1,343,000. Corient Private Wealth LP acquired a new position in Exagen during the 2nd quarter worth approximately $52,000. Man Group plc purchased a new stake in shares of Exagen in the 2nd quarter valued at approximately $778,000. BlackRock Inc. purchased a new stake in shares of Exagen in the 2nd quarter valued at approximately $663,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Exagen in the 2nd quarter valued at $97,000. 75.25% of the stock is currently owned by hedge funds and other institutional investors.

About Exagen

Exagen Inc (NASDAQ:XGN) is a commercial-stage diagnostics company focused on autoimmune diseases. The company develops and provides blood-based testing services intended to help healthcare professionals diagnose, differentiate and manage systemic autoimmune conditions, particularly lupus and related rheumatic diseases.

Exagen’s flagship testing platform is AVISE, a panel-based diagnostic approach that combines multiple autoantibody and biomarker measurements. Its offerings include AVISE CTD, which supports the evaluation of connective tissue diseases, and AVISE Lupus, which is designed to help distinguish systemic lupus erythematosus from other autoimmune conditions.