Exagen (NASDAQ:XGN) Research Coverage Started at B. Riley Financial

B. Riley Financial began coverage on shares of Exagen (NASDAQ:XGN) in a report published on Friday morning. The firm issued a buy rating and a $12.00 target price on the stock.

A number of other equities research analysts have also recently commented on XGN. Roth Capital initiated coverage on shares of Exagen in a report on Wednesday, June 24th. They set a “buy” rating and a $8.00 price target on the stock. BTIG Research boosted their price objective on shares of Exagen from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Exagen in a report on Friday, August 7th. Finally, TD Cowen upped their price objective on Exagen from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.62.

Exagen Price Performance

XGN opened at $7.03 on Friday. The firm has a market cap of $170.34 million, a PE ratio of -8.68 and a beta of 2.10. The stock has a 50-day moving average price of $6.05 and a 200-day moving average price of $4.49. Exagen has a 1 year low of $2.59 and a 1 year high of $12.23. The company has a debt-to-equity ratio of 1.96, a current ratio of 3.18 and a quick ratio of 3.18.

Exagen (NASDAQ:XGN) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.06. The company had revenue of $19.94 million for the quarter, compared to the consensus estimate of $17.80 million. Exagen had a negative net margin of 26.61% and a negative return on equity of 104.46%. Sell-side analysts predict that Exagen will post -0.71 earnings per share for the current fiscal year.

Institutional Trading of Exagen

A number of large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new position in shares of Exagen during the first quarter valued at approximately $25,000. Geode Capital Management LLC boosted its holdings in Exagen by 45.6% in the second quarter. Geode Capital Management LLC now owns 146,483 shares of the company’s stock worth $1,023,000 after purchasing an additional 45,884 shares during the last quarter. XTX Topco Ltd purchased a new stake in Exagen in the second quarter worth approximately $133,000. Russell Investments Group Ltd. bought a new stake in Exagen in the 2nd quarter worth approximately $1,540,000. Finally, Occudo Quantitative Strategies LP bought a new stake in Exagen in the 2nd quarter worth approximately $138,000. 75.25% of the stock is currently 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.