William Blair Reaffirms Outperform Rating for Exagen (NASDAQ:XGN)

William Blair restated their outperform rating on shares of Exagen (NASDAQ:XGN) in a research report released on Wednesday morning,RTT News reports.

Exagen Stock Up 2.8 %

XGN stock opened at $2.98 on Wednesday. The firm has a market cap of $52.57 million, a PE ratio of -3.17 and a beta of 1.35. The company has a debt-to-equity ratio of 1.54, a quick ratio of 4.32 and a current ratio of 4.05. The firm’s fifty day moving average is $2.82 and its 200 day moving average is $2.39. Exagen has a one year low of $1.30 and a one year high of $3.71.

Exagen (NASDAQ:XGN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.02. The firm had revenue of $12.51 million for the quarter, compared to the consensus estimate of $13.55 million. Exagen had a negative net margin of 30.36% and a negative return on equity of 92.58%. During the same period last year, the firm posted ($0.31) earnings per share. On average, research analysts forecast that Exagen will post -1.02 EPS for the current year.

Institutional Investors Weigh In On Exagen

A number of institutional investors and hedge funds have recently made changes to their positions in XGN. Stonepine Capital Management LLC increased its stake in Exagen by 49.0% during the 3rd quarter. Stonepine Capital Management LLC now owns 534,398 shares of the company’s stock worth $1,651,000 after buying an additional 175,701 shares during the period. Verus Capital Partners LLC purchased a new stake in Exagen during the 3rd quarter worth approximately $39,000. Palumbo Wealth Management LLC increased its stake in Exagen by 14.5% during the 3rd quarter. Palumbo Wealth Management LLC now owns 76,364 shares of the company’s stock worth $236,000 after buying an additional 9,695 shares during the period. Creative Planning purchased a new stake in Exagen during the 3rd quarter worth approximately $110,000. Finally, Renaissance Technologies LLC increased its stake in Exagen by 93.3% during the 2nd quarter. Renaissance Technologies LLC now owns 94,234 shares of the company’s stock worth $172,000 after buying an additional 45,476 shares during the period. 75.25% of the stock is owned by hedge funds and other 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).