Exagen (NASDAQ:XGN) Lifted to “Hold” at Zacks Investment Research

Exagen (NASDAQ:XGNGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

According to Zacks, “Exagen Inc. is engaged in transforming the care continuum for patients suffering from debilitating and chronic autoimmune diseases. It developed and commercialises testing products under AVISE brand. Exagen Inc. is based in Vista, California. “

Several other equities analysts also recently weighed in on XGN. Cantor Fitzgerald reiterated an “overweight” rating on shares of Exagen in a research report on Friday, January 14th. BTIG Research reduced their target price on Exagen from $20.00 to $15.00 in a research report on Wednesday, March 23rd. Finally, KeyCorp reduced their target price on Exagen from $30.00 to $20.00 and set an “overweight” rating on the stock in a research report on Friday, March 25th.

Shares of NASDAQ:XGN traded down $0.04 on Thursday, hitting $6.00. The company had a trading volume of 47,689 shares, compared to its average volume of 36,447. The company has a current ratio of 12.10, a quick ratio of 12.10 and a debt-to-equity ratio of 0.32. Exagen has a 52-week low of $5.66 and a 52-week high of $17.98. The business has a 50 day moving average of $7.49 and a 200 day moving average of $9.55. The company has a market cap of $97.39 million, a PE ratio of -3.53 and a beta of 0.73.

Exagen (NASDAQ:XGNGet Rating) last issued its quarterly earnings data on Tuesday, March 22nd. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.49) by $0.07. Exagen had a negative return on equity of 28.75% and a negative net margin of 55.59%. The business had revenue of $12.69 million for the quarter, compared to the consensus estimate of $11.55 million. During the same period in the prior year, the business earned ($0.27) earnings per share. As a group, equities analysts predict that Exagen will post -1.97 EPS for the current year.

A number of large investors have recently made changes to their positions in the business. Cowen AND Company LLC increased its stake in Exagen by 90.7% during the third quarter. Cowen AND Company LLC now owns 1,384,631 shares of the company’s stock worth $18,831,000 after acquiring an additional 658,553 shares during the last quarter. Wasatch Advisors Inc. increased its stake in Exagen by 0.7% during the fourth quarter. Wasatch Advisors Inc. now owns 1,105,760 shares of the company’s stock worth $12,860,000 after acquiring an additional 7,502 shares during the last quarter. Stonepine Capital Management LLC increased its stake in Exagen by 119.8% during the fourth quarter. Stonepine Capital Management LLC now owns 858,567 shares of the company’s stock worth $9,985,000 after acquiring an additional 467,930 shares during the last quarter. Morgan Stanley increased its stake in Exagen by 36.7% during the third quarter. Morgan Stanley now owns 498,587 shares of the company’s stock worth $6,781,000 after acquiring an additional 133,723 shares during the last quarter. Finally, Perkins Capital Management Inc. grew its stake in shares of Exagen by 0.8% in the first quarter. Perkins Capital Management Inc. now owns 200,975 shares of the company’s stock valued at $1,614,000 after buying an additional 1,500 shares in the last quarter. Institutional investors own 69.08% of the company’s stock.

Exagen Company Profile (Get Rating)

Exagen Inc develops and commercializes various testing products based on its cell-bound complement activation products technology under the AVISE brand in the United States. It enables rheumatologists 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).

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