Exagen (NASDAQ:XGN) Downgraded by Zacks Investment Research

Exagen (NASDAQ:XGNGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Exagen Inc. is engaged in transforming the care continuum for patients suffering from debilitating and chronic autoimmune diseases. It developed and commercialises testing products under AVISE brand. Exagen Inc. is based in Vista, California. “

A number of other brokerages also recently issued reports on XGN. Cantor Fitzgerald restated an “overweight” rating on shares of Exagen in a research note on Friday, January 14th. BTIG Research reduced their price objective on Exagen from $20.00 to $15.00 in a research note on Wednesday, March 23rd. Finally, KeyCorp reduced their price objective on Exagen from $30.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, March 25th.

Shares of Exagen stock opened at $6.28 on Thursday. The stock has a fifty day simple moving average of $7.65 and a 200 day simple moving average of $9.75. Exagen has a 12-month low of $5.66 and a 12-month high of $17.98. The company has a market capitalization of $101.93 million, a P/E ratio of -3.69 and a beta of 0.73. The company has a current ratio of 12.10, a quick ratio of 12.10 and a debt-to-equity ratio of 0.32.

Exagen (NASDAQ:XGNGet Rating) last announced its quarterly earnings results on Tuesday, March 22nd. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.49) by $0.07. Exagen had a negative return on equity of 28.75% and a negative net margin of 55.59%. The business had revenue of $12.69 million during the quarter, compared to the consensus estimate of $11.55 million. During the same quarter in the prior year, the company posted ($0.27) earnings per share. On average, analysts predict that Exagen will post -1.97 EPS for the current year.

Several hedge funds have recently bought and sold shares of the company. Perkins Capital Management Inc. grew its stake in shares of Exagen by 0.8% during the 1st quarter. Perkins Capital Management Inc. now owns 200,975 shares of the company’s stock worth $1,614,000 after acquiring an additional 1,500 shares during the period. Wells Fargo & Company MN lifted its holdings in Exagen by 1,885.3% during the 4th quarter. Wells Fargo & Company MN now owns 7,683 shares of the company’s stock worth $90,000 after purchasing an additional 7,296 shares in the last quarter. Wasatch Advisors Inc. lifted its holdings in Exagen by 0.7% during the 4th quarter. Wasatch Advisors Inc. now owns 1,105,760 shares of the company’s stock worth $12,860,000 after purchasing an additional 7,502 shares in the last quarter. Stonepine Capital Management LLC raised its holdings in shares of Exagen by 119.8% in the 4th quarter. Stonepine Capital Management LLC now owns 858,567 shares of the company’s stock valued at $9,985,000 after acquiring an additional 467,930 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Exagen by 36.0% during the 4th quarter. JPMorgan Chase & Co. now owns 21,133 shares of the company’s stock valued at $246,000 after purchasing an additional 5,597 shares during the last quarter. Institutional investors own 69.08% of the company’s stock.

Exagen Company Profile (Get Rating)

Exagen Inc develops and commercializes various testing products based on its cell-bound complement activation products technology under the AVISE brand in the United States. It enables rheumatologists 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).

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