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

William Blair reissued their outperform rating on shares of Exagen (NASDAQ:XGN) in a report published on Wednesday,RTT News reports.

Exagen Price Performance

Shares of XGN opened at $2.98 on Wednesday. The company has a quick ratio of 4.32, a current ratio of 4.05 and a debt-to-equity ratio of 1.54. Exagen has a twelve month low of $1.30 and a twelve month high of $3.71. The company has a market capitalization of $52.57 million, a P/E ratio of -3.17 and a beta of 1.35. The firm has a 50 day moving average of $2.82 and a 200 day moving average of $2.39.

Exagen (NASDAQ:XGN) last posted its earnings results on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.02. The business had revenue of $12.51 million during 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 quarter in the previous year, the firm posted ($0.31) EPS. As a group, equities research analysts anticipate that Exagen will post -1.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Exagen

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

Exagen Company Profile

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).