Exagen (NASDAQ:XGN) Price Target Raised to $11.00

Exagen (NASDAQ:XGN) had its price objective raised by Canaccord Genuity Group from $8.00 to $11.00 in a research note released on Wednesday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on XGN. Craig Hallum initiated coverage on shares of Exagen in a report on Wednesday, July 23rd. They issued a “buy” rating and a $12.00 price target on the stock. UBS Group reaffirmed an “overweight” rating on shares of Exagen in a research report on Thursday, May 15th. KeyCorp raised shares of Exagen from a “sector weight” rating to an “overweight” rating and set a $12.00 target price for the company in a research report on Wednesday. BTIG Research reaffirmed a “buy” rating on shares of Exagen in a research report on Wednesday, May 7th. Finally, Cantor Fitzgerald dropped their target price on shares of Exagen from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Thursday, May 15th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $11.25.

Exagen Price Performance

Shares of Exagen stock opened at $8.63 on Wednesday. The firm has a market cap of $189.86 million, a PE ratio of -9.70 and a beta of 1.61. Exagen has a 12-month low of $1.78 and a 12-month high of $9.10. The company has a quick ratio of 2.32, a current ratio of 4.95 and a debt-to-equity ratio of 1.06. The company’s fifty day simple moving average is $7.19 and its two-hundred day simple moving average is $5.43.

Exagen (NASDAQ:XGN) last announced its quarterly earnings results on Tuesday, July 29th. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.18). The business had revenue of $17.20 million for the quarter, compared to analyst estimates of $16.25 million. Exagen had a negative net margin of 28.85% and a negative return on equity of 130.38%. As a group, equities analysts expect that Exagen will post -0.88 EPS for the current year.

Institutional Investors Weigh In On Exagen

Several institutional investors and hedge funds have recently modified their holdings of XGN. Acadian Asset Management LLC purchased a new position in Exagen during the 1st quarter valued at about $25,000. Corient Private Wealth LLC purchased a new position in Exagen during the 4th quarter valued at about $45,000. Virtu Financial LLC purchased a new position in Exagen during the 4th quarter valued at about $46,000. Marshall Wace LLP purchased a new position in Exagen during the 4th quarter valued at about $66,000. Finally, Northern Trust Corp lifted its position in Exagen by 16.7% during the 4th quarter. Northern Trust Corp now owns 18,375 shares of the company’s stock valued at $75,000 after acquiring an additional 2,630 shares during the period. 75.25% of the stock is owned by hedge funds and other institutional investors.

About Exagen

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).