BTIG Research Forecasts Strong Price Appreciation for Exagen (NASDAQ:XGN) Stock

Exagen (NASDAQ:XGN) had its price target boosted by BTIG Research from $8.00 to $9.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s target price would indicate a potential upside of 39.53% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Roth Capital began coverage on shares of Exagen in a research report on Wednesday, June 24th. They set a “buy” rating and a $8.00 target price for the company. Canaccord Genuity Group cut their price target on shares of Exagen from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Weiss Ratings downgraded Exagen from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, May 12th. Finally, Wall Street Zen raised Exagen from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.12.

Exagen Stock Performance

Shares of NASDAQ:XGN opened at $6.45 on Wednesday. The firm has a market cap of $155.83 million, a PE ratio of -7.25 and a beta of 2.05. The firm’s 50 day simple moving average is $4.61 and its 200-day simple moving average is $3.84. Exagen has a one year low of $2.59 and a one year high of $12.23. The company has a debt-to-equity ratio of 1.67, a quick ratio of 3.47 and a current ratio of 3.47.

Exagen (NASDAQ:XGN) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.06. The business had revenue of $19.94 million during the quarter, compared to analyst estimates of $17.80 million. Exagen had a negative net margin of 29.49% and a negative return on equity of 94.37%. As a group, equities analysts predict that Exagen will post -0.71 EPS for the current year.

Institutional Trading of Exagen

Large investors have recently bought and sold shares of the stock. Truvestments Capital LLC raised its holdings in shares of Exagen by 109.5% in the fourth 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. Acadian Asset Management LLC acquired a new stake in Exagen during the 1st quarter worth about $25,000. Larson Financial Group LLC acquired a new stake in Exagen during the 3rd quarter worth about $105,000. Persistent Asset Partners Ltd purchased a new stake in Exagen during the 4th quarter valued at about $80,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Exagen during the 4th quarter valued at about $82,000. Hedge funds and other institutional investors own 75.25% of the company’s stock.

Exagen News Summary

Here are the key news stories impacting Exagen this week:

• Positive Sentiment: Exagen reported record second-quarter revenue of $19.9 million, up 16% year over year and above the $17.8 million analyst consensus. The company also reported an adjusted loss of $0.13 per share, narrower than the expected $0.19 loss. Exagen Inc. Reports Second Quarter 2026 Financial Results
• Positive Sentiment: AVISE CTD test volume increased 11%, while trailing-twelve-month average selling price rose 4% to $446 per test, indicating both demand growth and improved revenue per test. Exagen reports record Q2 revenue of $19.9 million
• Positive Sentiment: The company raised full-year 2026 revenue guidance to $72 million-$75 million, up from $70 million-$73 million and slightly above the $71.6 million consensus estimate. Exagen reports record second-quarter 2026 revenue and raises full-year guidance
• Positive Sentiment: Profitability metrics improved substantially: adjusted EBITDA loss narrowed to $0.1 million from $1.7 million a year earlier, while net loss fell nearly 30% to $3.2 million. Management said the company is approaching sustainable profitability and cash generation. Exagen Inc. Q2 2026 Earnings Call Highlights
• Neutral Sentiment: A published review involving more than 3,100 patients supported AVISE CTD’s diagnostic value, including identifying some lupus patients missed by conventional markers. This may strengthen long-term adoption, although the financial impact remains uncertain.
• Negative Sentiment: Exagen remains unprofitable, with a quarterly GAAP net loss of $3.2 million. Cash declined to approximately $24.6 million from $32.2 million at the end of 2025, while borrowings totaled roughly $22.8 million, leaving liquidity and financing needs as ongoing risks.

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.