Exagen (NASDAQ:XGN) Stock Rating Upgraded by Roth Mkm

Exagen (NASDAQ:XGN) was upgraded by stock analysts at Roth Mkm to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on XGN. UBS Group set a $10.00 price objective on Exagen in a research note on Wednesday, March 11th. KeyCorp cut their target price on shares of Exagen from $15.00 to $10.00 and set an “overweight” rating on the stock in a report on Wednesday, March 11th. BTIG Research reduced their price target on shares of Exagen from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Wall Street Zen upgraded shares of Exagen from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, William Blair reissued an “outperform” rating on shares of Exagen in a research report on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Exagen presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.11.

Exagen Trading Up 2.7%

NASDAQ XGN opened at $4.64 on Wednesday. The company has a debt-to-equity ratio of 1.67, a current ratio of 3.47 and a quick ratio of 3.47. The firm’s fifty day moving average price is $3.90 and its 200 day moving average price is $4.18. The company has a market capitalization of $112.10 million, a price-to-earnings ratio of -5.21 and a beta of 2.02. Exagen has a 12 month low of $2.59 and a 12 month high of $12.23.

Exagen (NASDAQ:XGN) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates 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. On average, sell-side analysts expect that Exagen will post -0.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Exagen

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new position in Exagen in the 1st quarter valued at $25,000. Truvestments Capital LLC raised its position in Exagen by 109.5% during the 4th quarter. Truvestments Capital LLC now owns 6,169 shares of the company’s stock worth $38,000 after buying an additional 3,225 shares during the last quarter. Persistent Asset Partners Ltd acquired a new stake in shares of Exagen in the 4th quarter worth $80,000. R Squared Ltd lifted its stake in shares of Exagen by 49.0% in the 1st quarter. R Squared Ltd now owns 27,107 shares of the company’s stock worth $81,000 after acquiring an additional 8,915 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Exagen in the fourth quarter valued at about $82,000. 75.25% of the stock is currently owned by hedge funds and other institutional investors.

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.