Canaccord Genuity Group Issues Positive Forecast for Exagen (NASDAQ:XGN) Stock Price

by · The Markets Daily

Exagen (NASDAQ:XGN – Get Free Report) had its target price hoisted by research analysts at Canaccord Genuity Group from $9.00 to $11.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 42.49% from the company’s previous close.

Several other research analysts have also recently weighed in on XGN. TD Cowen raised their target price on Exagen from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, October 13th. BTIG Research upped their price target on shares of Exagen from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Roth Capital began coverage on shares of Exagen in a report on Wednesday, June 24th. They issued a “buy” rating and a $8.00 price target for the company. Weiss Ratings restated a “sell (e+)” rating on shares of Exagen in a research report on Friday, August 7th. Finally, B. Riley Financial assumed coverage on shares of Exagen in a research note on Friday, September 11th. They issued a “buy” rating and a $12.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Exagen has an average rating of “Moderate Buy” and an average target price of $10.12.

View Our Latest Report on XGN

Exagen Price Performance

NASDAQ XGN opened at $7.72 on Monday. Exagen has a 12 month low of $2.59 and a 12 month high of $12.23. The firm has a market capitalization of $187.06 million, a PE ratio of -9.53 and a beta of 2.12. The company’s 50 day simple moving average is $7.74 and its 200 day simple moving average is $5.38. The company has a debt-to-equity ratio of 1.96, a current ratio of 3.18 and a quick ratio of 3.18.

Exagen (NASDAQ:XGN – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.06. Exagen had a negative return on equity of 104.46% and a negative net margin of 26.61%. The company had revenue of $19.94 million for the quarter, compared to analysts’ expectations of $17.80 million. As a group, equities research analysts forecast that Exagen will post -0.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Exagen

Large investors have recently modified their holdings of the stock. FourWorld Capital Management LLC grew its holdings in shares of Exagen by 61.2% in the 1st quarter. FourWorld Capital Management LLC now owns 439,950 shares of the company’s stock worth $1,320,000 after acquiring an additional 166,950 shares during the last quarter. Flputnam Investment Management Co. purchased a new position in shares of Exagen during the second quarter valued at $1,343,000. Sei Investments Co. grew its stake in Exagen by 107.0% during the 1st quarter. Sei Investments Co. now owns 244,240 shares of the company’s stock valued at $733,000 after acquiring an additional 126,235 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Exagen in the 2nd quarter valued at about $998,000. Finally, Renaissance Technologies LLC lifted its position in shares of Exagen by 47.3% in the first quarter. Renaissance Technologies LLC now owns 203,272 shares of the company’s stock worth $610,000 after purchasing an additional 65,272 shares in the last quarter. 75.25% of the stock is owned by institutional investors.

Exagen Company Profile

(Get Free Report)

Exagen Inc (NASDAQ: XGN) is a diagnostic healthcare company focused on autoimmune diseases. The company develops and commercializes blood tests designed to help physicians diagnose, differentiate and monitor conditions such as systemic lupus erythematosus, rheumatoid arthritis and other connective tissue diseases.

Exagen’s principal product family is AVISE, a suite of proprietary autoimmune testing services that includes AVISE CTD, AVISE Lupus and monitoring tests. These assays combine multiple biomarkers and are intended to provide physicians with information that may support earlier or more informed clinical decisions, particularly in rheumatology.

Exagen operates a specialized laboratory testing business serving healthcare providers primarily in the United States.

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