Exagen (NASDAQ:XGN) Given New $8.00 Price Target at Canaccord Genuity Group

Exagen (NASDAQ:XGN) had its target price upped by Canaccord Genuity Group from $7.00 to $8.00 in a research note issued to investors on Tuesday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

XGN has been the subject of several other research reports. Cantor Fitzgerald restated an “overweight” rating and set a $8.00 price objective on shares of Exagen in a research report on Monday, January 13th. William Blair restated an “outperform” rating on shares of Exagen in a research report on Wednesday, March 12th. Finally, BTIG Research restated a “buy” rating on shares of Exagen in a research report on Wednesday, May 7th.

Exagen Stock Performance

NASDAQ:XGN opened at $5.63 on Tuesday. Exagen has a twelve month low of $1.63 and a twelve month high of $7.20. The company has a current ratio of 4.05, a quick ratio of 4.05 and a debt-to-equity ratio of 1.54. The company has a 50-day moving average of $4.65 and a 200-day moving average of $4.16. The firm has a market cap of $101.35 million, a price-to-earnings ratio of -5.99 and a beta of 1.50.

Exagen (NASDAQ:XGN) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, meeting the consensus estimate of ($0.20). Exagen had a negative net margin of 30.36% and a negative return on equity of 92.58%. The company had revenue of $15.50 million during the quarter, compared to analyst estimates of $14.55 million. During the same quarter last year, the firm posted ($0.19) EPS. Analysts forecast that Exagen will post -0.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Virtu Financial LLC acquired a new position in shares of Exagen in the fourth quarter worth about $46,000. Corient Private Wealth LLC purchased a new stake in shares of Exagen in the fourth quarter worth approximately $45,000. Marshall Wace LLP purchased a new stake in shares of Exagen in the fourth quarter worth approximately $66,000. Driehaus Capital Management LLC purchased a new stake in shares of Exagen in the fourth quarter worth approximately $1,716,000. Finally, Geode Capital Management LLC lifted its position in shares of Exagen by 11.9% in the fourth quarter. Geode Capital Management LLC now owns 98,057 shares of the company’s stock worth $402,000 after purchasing an additional 10,442 shares in the last quarter. 75.25% of the stock is currently owned by institutional investors and hedge funds.

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).