Exagen (NASDAQ:XGN) Price Target Cut to $7.00 by Analysts at Cantor Fitzgerald

Exagen (NASDAQ:XGN) had its price target cut by Cantor Fitzgerald from $8.00 to $7.00 in a report released on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also recently commented on the company. Canaccord Genuity Group raised their price objective on Exagen from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Tuesday. BTIG Research reissued a “buy” rating on shares of Exagen in a research report on Wednesday, May 7th. Finally, William Blair reaffirmed an “outperform” rating on shares of Exagen in a research note on Wednesday, March 12th.

Exagen Price Performance

Shares of XGN opened at $5.74 on Thursday. The firm has a market cap of $122.26 million, a PE ratio of -6.11 and a beta of 1.50. Exagen has a 52-week low of $1.71 and a 52-week high of $7.20. The business’s 50 day moving average price is $4.76 and its two-hundred day moving average price is $4.19. The company has a debt-to-equity ratio of 1.54, a quick ratio of 4.05 and a current ratio of 4.05.

Exagen (NASDAQ:XGN) last released its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $14.55 million. During the same quarter in the previous year, the company earned ($0.19) EPS. On average, equities analysts anticipate that Exagen will post -0.88 EPS for the current year.

Institutional Investors Weigh In On Exagen

Hedge funds have recently made changes to their positions in the business. Northern Trust Corp raised its position in Exagen by 16.7% in the fourth quarter. Northern Trust Corp now owns 18,375 shares of the company’s stock worth $75,000 after acquiring an additional 2,630 shares during the period. Palumbo Wealth Management LLC increased its stake in shares of Exagen by 13.5% during the 4th quarter. Palumbo Wealth Management LLC now owns 86,704 shares of the company’s stock worth $355,000 after purchasing an additional 10,340 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Exagen by 11.9% in the 4th 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 during the period. Corient Private Wealth LLC purchased a new position in Exagen in the fourth quarter valued at approximately $45,000. Finally, Virtu Financial LLC bought a new position in Exagen during the fourth quarter valued at $46,000. 75.25% of the stock is currently owned by institutional investors.

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).