B. Riley Reaffirms Buy Rating for Exagen (NASDAQ:XGN)

Exagen (NASDAQ:XGN)‘s stock had its “buy” rating reissued by B. Riley in a note issued to investors on Friday,Benzinga reports. They currently have a $8.00 price target on the stock, down from their previous price target of $18.00. B. Riley’s price objective indicates a potential upside of 117.39% from the stock’s current price.

Several other equities research analysts have also commented on XGN. KeyCorp boosted their price objective on shares of Exagen from $12.00 to $15.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Canaccord Genuity Group lifted their target price on shares of Exagen from $11.00 to $15.00 and gave the company a “buy” rating in a report on Monday, October 27th. BTIG Research raised their price objective on shares of Exagen from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Exagen in a research report on Wednesday, January 21st. Eight research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.50.

Exagen Trading Down 6.8%

Shares of XGN opened at $3.68 on Friday. Exagen has a 1-year low of $2.67 and a 1-year high of $12.23. The company has a current ratio of 4.08, a quick ratio of 4.08 and a debt-to-equity ratio of 1.35. The firm’s 50-day moving average price is $6.12 and its 200-day moving average price is $8.50. The firm has a market capitalization of $83.39 million, a price-to-earnings ratio of -4.00 and a beta of 1.86.

Exagen (NASDAQ:XGN) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). Exagen had a negative return on equity of 113.48% and a negative net margin of 29.94%.The company had revenue of $17.24 million during the quarter, compared to the consensus estimate of $16.90 million. Sell-side analysts anticipate that Exagen will post -0.88 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in XGN. FourWorld Capital Management LLC bought a new stake in Exagen during the 2nd quarter worth approximately $1,456,000. Citizens Financial Group Inc. RI bought a new stake in Exagen during the second quarter valued at about $472,000. Calamos Advisors LLC purchased a new position in Exagen in the 2nd quarter worth approximately $526,000. Huntleigh Advisors Inc. boosted its position in shares of Exagen by 5.7% during the second quarter. Huntleigh Advisors Inc. now owns 87,861 shares of the company’s stock worth $613,000 after acquiring an additional 4,753 shares during the last quarter. Finally, Palumbo Wealth Management LLC grew its stake in Exagen by 15.2% during the fourth quarter. Palumbo Wealth Management LLC now owns 43,345 shares of the company’s stock valued at $264,000 after acquiring an additional 5,718 shares in the last quarter. 75.25% of the stock is currently owned by institutional investors.

Exagen Company Profile

Exagen Inc is a molecular diagnostics company focused on improving the detection and management of autoimmune diseases. Headquartered in the United States, the company develops, manufactures and markets laboratory tests designed to help clinicians address diagnostic challenges associated with complex connective tissue disorders.

The company’s flagship product portfolio, marketed under the Avise® brand, includes multi-analyte assays such as the Avise® Connective Tissue Disease (CTD) panel, Avise® Lupus panel and Avise® Sjögren’s panel.