In a report released yesterday, Kyle Mikson CFA from Canaccord Genuity maintained a Buy rating on Exagen, with a price target of $15.00.
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Kyle Mikson CFA has given his Buy rating due to a combination of factors that highlight Exagen’s potential for long-term growth and financial stability. The company demonstrated solid performance in the third quarter of 2025, with a notable increase in AVISE CTD volume despite the loss of a high average selling price client. This growth is attributed to successful expansion in existing accounts and new customer acquisition, suggesting resilience and effective execution.
Furthermore, Exagen operates in an attractive market with significant growth potential, as it currently holds a small share of the total addressable market for autoimmune evaluations. The company’s strategic initiatives, such as enhancing access to phlebotomy services and integrating with electronic health records, are expected to drive further growth. Additionally, Exagen’s commitment to innovation, evidenced by its pipeline of new products targeting unmet needs in rheumatology, positions it well for future success. The company’s focus on achieving positive adjusted EBITDA and its confidence in managing debt obligations further support the Buy rating.
In another report released on November 10, BTIG also reiterated a Buy rating on the stock with a $15.00 price target.