Exagen (XGN) Gets a Buy Rating from Canaccord Genuity


Canaccord Genuity analyst Edward Nash maintained a Buy rating on Exagen (XGN) yesterday and set a price target of $25.00. The company’s shares closed last Wednesday at $12.85.

According to TipRanks.com, Nash is a 3-star analyst with an average return of 4.5% and a 39.9% success rate. Nash covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, Galmed Pharmaceuticals, and Oramed Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Exagen with a $24.50 average price target, representing a 66.4% upside. In a report released yesterday, BTIG also reiterated a Buy rating on the stock with a $23.00 price target.

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Based on Exagen’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $12.67 million and GAAP net loss of $3.45 million. In comparison, last year the company earned revenue of $10.21 million and had a GAAP net loss of $3.41 million.

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Exagen Diagnostics Inc was incorporated under the laws of the state of New Mexico in 2002. The Company is a commercial-stage diagnostics company committed to addressing the unmet need for the accurate diagnosis and monitoring of patients affected by autoimmune rheumatic diseases. It currently markets four products under its Avise brand to provide an accurate, timely and differential diagnosis and to optimize the treatment of ARDs. It processed approximately 9,300 patient specimens for its diagnostic product line, Avise SLE. It markets and sells solutions to community rheumatologists.

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