Exagen price target lowered to $7 from $8 at Cantor Fitzgerald

Cantor Fitzgerald lowered the firm’s price target on Exagen (XGN) to $7 from $8 and keeps an Overweight rating on the shares following the company’s Q1 results, fiscal 2025 guidance, and closing an equity raise subsequent to the quarter’s end. Cantor remains excited about Exagen as the company rolls out new markers that stand to improve sensitivity, which should result in incremental adoption in addition to being accretive to average selling price, the analyst tells investors in a research note.