Exagen (NASDAQ:XGN) PT Lowered to $7.00

Exagen (NASDAQ:XGNGet Rating) had its price target lowered by analysts at Canaccord Genuity Group from $8.00 to $7.00 in a research note issued on Tuesday, The Fly reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 105.88% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on XGN. KeyCorp cut shares of Exagen from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 5th. Canaccord Genuity Group dropped their price target on shares of Exagen from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Exagen has an average rating of “Moderate Buy” and a consensus price target of $11.75.

Exagen Price Performance

Shares of NASDAQ XGN opened at $3.40 on Tuesday. The stock has a market capitalization of $55.28 million, a price-to-earnings ratio of -1.50 and a beta of 1.17. Exagen has a 12 month low of $2.10 and a 12 month high of $12.89. The firm’s 50 day simple moving average is $2.98 and its 200-day simple moving average is $4.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 9.30 and a quick ratio of 9.30.

Institutional Trading of Exagen

Institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. purchased a new stake in Exagen in the 1st quarter valued at about $27,000. Intrust Bank NA purchased a new stake in Exagen during the second quarter worth about $57,000. First Bank & Trust increased its stake in Exagen by 47.1% during the second quarter. First Bank & Trust now owns 23,176 shares of the company’s stock worth $133,000 after purchasing an additional 7,423 shares during the period. Advisors Capital Management LLC increased its stake in Exagen by 66.2% during the third quarter. Advisors Capital Management LLC now owns 67,923 shares of the company’s stock worth $143,000 after purchasing an additional 27,050 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in Exagen by 7.7% during the first quarter. Envestnet Asset Management Inc. now owns 25,731 shares of the company’s stock worth $207,000 after purchasing an additional 1,839 shares during the period. 65.94% of the stock is currently owned by hedge funds and other institutional investors.

About Exagen

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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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