Cantor Fitzgerald Issues Pessimistic Forecast for Exagen (NASDAQ:XGN) Stock Price

Exagen (NASDAQ:XGN) had its price target reduced by equities research analysts at Cantor Fitzgerald from $8.00 to $7.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 16.47% from the stock’s current price.

XGN has been the subject of a number of other reports. William Blair reissued an “outperform” rating on shares of Exagen in a research note on Wednesday, March 12th. Canaccord Genuity Group upped their target price on shares of Exagen from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, BTIG Research reissued a “buy” rating on shares of Exagen in a report on Wednesday, May 7th.

Exagen Price Performance

NASDAQ XGN opened at $6.01 on Thursday. The business’s fifty day moving average is $4.81 and its 200 day moving average is $4.21. Exagen has a fifty-two week low of $1.71 and a fifty-two week high of $7.20. The company has a debt-to-equity ratio of 1.54, a quick ratio of 4.05 and a current ratio of 4.05. The company has a market capitalization of $128.01 million, a PE ratio of -6.39 and a beta of 1.50.

Exagen (NASDAQ:XGN) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.20). The firm had revenue of $15.50 million for the quarter, compared to analysts’ expectations of $14.55 million. Exagen had a negative return on equity of 92.58% and a negative net margin of 30.36%. During the same period in the previous year, the firm earned ($0.19) EPS. Sell-side analysts predict that Exagen will post -0.88 earnings per share for the current year.

Institutional Investors Weigh In On Exagen

Institutional investors and hedge funds have recently modified their holdings of the stock. Corient Private Wealth LLC bought a new position in Exagen during the fourth quarter valued at approximately $45,000. Virtu Financial LLC bought a new position in shares of Exagen during the 4th quarter valued at approximately $46,000. Marshall Wace LLP bought a new position in shares of Exagen during the 4th quarter valued at approximately $66,000. Northern Trust Corp grew its holdings in shares of Exagen by 16.7% in the fourth quarter. Northern Trust Corp now owns 18,375 shares of the company’s stock valued at $75,000 after purchasing an additional 2,630 shares in the last quarter. Finally, Huntleigh Advisors Inc. increased its position in Exagen by 16.8% in the first quarter. Huntleigh Advisors Inc. now owns 83,108 shares of the company’s stock worth $298,000 after purchasing an additional 11,939 shares during the last quarter. Institutional investors own 75.25% of the company’s stock.

Exagen Company Profile

Exagen Inc develops and commercializes various testing products under the AVISE brand in the United States. The company enables healthcare providers 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).