Exagen (NASDAQ:XGN) Rating Increased to Strong-Buy at Roth Mkm

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

XGN has been the subject of several other research reports. TD Cowen lowered their price target on Exagen from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Canaccord Genuity Group dropped their price target on shares of Exagen from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. William Blair reaffirmed an “outperform” rating on shares of Exagen in a research note on Tuesday, March 10th. Craig Hallum decreased their price objective on shares of Exagen from $12.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. Finally, Wall Street Zen upgraded Exagen from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Exagen currently has a consensus rating of “Moderate Buy” and an average price target of $9.11.

Exagen Price Performance

Shares of NASDAQ:XGN opened at $4.64 on Wednesday. The firm has a market cap of $112.10 million, a price-to-earnings ratio of -5.21 and a beta of 2.02. Exagen has a 1 year low of $2.59 and a 1 year high of $12.23. The company has a current ratio of 3.47, a quick ratio of 3.47 and a debt-to-equity ratio of 1.67. The business has a fifty day simple moving average of $3.90 and a 200 day simple moving average of $4.18.

Exagen (NASDAQ:XGN) last issued its earnings results on Monday, May 11th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.07. Exagen had a negative return on equity of 94.37% and a negative net margin of 29.49%.The company had revenue of $17.31 million for the quarter, compared to analyst estimates of $16.41 million. As a group, sell-side analysts predict that Exagen will post -0.68 earnings per share for the current fiscal year.

Institutional Trading of Exagen

Several hedge funds have recently added to or reduced their stakes in XGN. Truvestments Capital LLC grew its holdings in Exagen by 109.5% in 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 during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Exagen in the first quarter valued at approximately $25,000. Larson Financial Group LLC acquired a new stake in shares of Exagen in the third quarter worth $105,000. Persistent Asset Partners Ltd acquired a new stake in shares of Exagen in the fourth quarter worth $80,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in Exagen during the fourth quarter worth $82,000. Institutional investors own 75.25% of the company’s stock.

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.