Exagen (NASDAQ:XGN) Price Target Cut to $10.00 by Analysts at TD Cowen

Exagen (NASDAQ:XGN) had its target price reduced by TD Cowen from $13.00 to $10.00 in a research report released on Tuesday morning,Benzinga reports. TD Cowen currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the stock. B. Riley Financial restated a “buy” rating and set a $8.00 price target (down from $18.00) on shares of Exagen in a report on Friday, January 30th. Canaccord Genuity Group boosted their price target on Exagen from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. BTIG Research lowered their price objective on Exagen from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Exagen in a research note on Wednesday, January 21st. Nine analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Exagen currently has an average rating of “Moderate Buy” and an average price target of $11.43.

Exagen Trading Down 0.3%

Shares of NASDAQ XGN opened at $3.69 on Tuesday. The business has a 50 day simple moving average of $4.80 and a 200 day simple moving average of $7.97. Exagen has a 52 week low of $2.67 and a 52 week high of $12.23. The stock has a market cap of $83.63 million, a price-to-earnings ratio of -4.01 and a beta of 1.90. The company has a debt-to-equity ratio of 1.35, a quick ratio of 4.08 and a current ratio of 4.08.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC acquired a new position in shares of Exagen during the first quarter valued at about $25,000. Geode Capital Management LLC lifted its position in Exagen by 45.6% in the second quarter. Geode Capital Management LLC now owns 146,483 shares of the company’s stock worth $1,023,000 after purchasing an additional 45,884 shares during the period. Calamos Advisors LLC acquired a new stake in Exagen during the second quarter worth $526,000. Citizens Financial Group Inc. RI acquired a new stake in Exagen during the second quarter worth $472,000. Finally, XTX Topco Ltd bought a new stake in Exagen in the 2nd quarter valued at $133,000. Institutional investors own 75.25% of the company’s stock.

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.