Exagen’s (XGN) “Sell (D-)” Rating Reiterated at Weiss Ratings

Weiss Ratings restated their sell (d-) rating on shares of Exagen (NASDAQ:XGN) in a research note released on Wednesday morning,Weiss Ratings reports.

Other equities analysts have also issued research reports about the company. KeyCorp raised Exagen from a “sector weight” rating to an “overweight” rating and set a $12.00 target price on the stock in a research note on Wednesday, July 30th. B. Riley assumed coverage on Exagen in a research note on Thursday, September 11th. They set a “buy” rating and a $15.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 target price on shares of Exagen in a research note on Wednesday, July 30th. Craig Hallum began coverage on Exagen in a research note on Wednesday, July 23rd. They set a “buy” rating and a $12.00 target price on the stock. Finally, Canaccord Genuity Group increased their price target on Exagen from $8.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Eight research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Exagen Price Performance

XGN opened at $10.95 on Wednesday. The stock’s 50-day moving average price is $9.93 and its 200 day moving average price is $7.52. Exagen has a 12-month low of $2.38 and a 12-month high of $11.27. The company has a current ratio of 4.95, a quick ratio of 4.95 and a debt-to-equity ratio of 1.06. The firm has a market cap of $240.90 million, a price-to-earnings ratio of -12.30 and a beta of 1.54.

Exagen (NASDAQ:XGN) last posted its earnings results on Tuesday, July 29th. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.18). Exagen had a negative return on equity of 130.38% and a negative net margin of 28.85%.The firm had revenue of $17.20 million for the quarter, compared to analyst estimates of $16.25 million. Exagen has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Exagen will post -0.88 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in XGN. Manatuck Hill Partners LLC purchased a new position in Exagen during the 2nd quarter worth approximately $1,222,000. Massar Capital Management LP grew its stake in Exagen by 715.7% during the 2nd quarter. Massar Capital Management LP now owns 170,000 shares of the company’s stock worth $1,187,000 after buying an additional 149,160 shares during the last quarter. Mink Brook Asset Management LLC purchased a new position in Exagen during the 2nd quarter worth approximately $907,000. FourWorld Capital Management LLC purchased a new position in Exagen during the 2nd quarter worth approximately $1,456,000. Finally, Bridgeway Capital Management LLC grew its stake in Exagen by 10.3% during the 2nd quarter. Bridgeway Capital Management LLC now owns 27,800 shares of the company’s stock worth $194,000 after buying an additional 2,600 shares during the last quarter. Hedge funds and other institutional investors own 75.25% of the company’s stock.

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).