Exagen Inc. (NASDAQ:XGN) Receives $9.00 Average Target Price from Brokerages

Exagen Inc. (NASDAQ:XGN) has been given a consensus recommendation of “Buy” by the six research firms that are currently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $9.00.

Several equities research analysts have recently weighed in on XGN shares. Craig Hallum started coverage on Exagen in a research report on Wednesday, July 23rd. They set a “buy” rating and a $12.00 price target on the stock. Canaccord Genuity Group upped their price target on Exagen from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Cantor Fitzgerald decreased their price target on Exagen from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Thursday, May 15th. BTIG Research reiterated a “buy” rating on shares of Exagen in a research report on Wednesday, May 7th. Finally, UBS Group reiterated an “overweight” rating on shares of Exagen in a research report on Thursday, May 15th.

Exagen Price Performance

Shares of NASDAQ:XGN opened at $8.45 on Wednesday. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 2.87. The firm has a market capitalization of $179.99 million, a PE ratio of -10.06 and a beta of 1.58. Exagen has a twelve month low of $1.78 and a twelve month high of $8.80. The company has a 50-day moving average price of $7.05 and a two-hundred day moving average price of $5.33.

Exagen (NASDAQ:XGN) last issued its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.20). Exagen had a negative net margin of 27.34% and a negative return on equity of 133.69%. The firm had revenue of $15.50 million during the quarter, compared to analyst estimates of $14.55 million. During the same quarter last year, the business earned ($0.19) earnings per share. Equities analysts forecast that Exagen will post -0.88 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Huntleigh Advisors Inc. grew its holdings in shares of Exagen by 5.7% during the second quarter. Huntleigh Advisors Inc. now owns 87,861 shares of the company’s stock worth $613,000 after purchasing an additional 4,753 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Exagen during the first quarter worth about $25,000. Palumbo Wealth Management LLC boosted its stake in Exagen by 14.4% in the first quarter. Palumbo Wealth Management LLC now owns 99,205 shares of the company’s stock worth $356,000 after buying an additional 12,501 shares in the last quarter. Toronto Dominion Bank purchased a new stake in Exagen in the fourth quarter worth approximately $3,655,000. Finally, Driehaus Capital Management LLC purchased a new stake in Exagen in the fourth quarter worth approximately $1,716,000. Hedge funds and other institutional investors own 75.25% of the company’s stock.

Exagen Company Profile

Exagen Inc develops and commercializes various testing products under the AVISE brand in the United States. The company enables healthcare providers to care for patients through the diagnosis, prognosis, and monitoring of autoimmune and autoimmune-related diseases, including systemic lupus erythematosus (SLE) and rheumatoid arthritis (RA).