Exagen (XGN) Soars 5.5%: Is Further Upside Left in the Stock?

Group 1 - Exagen Inc. (XGN) shares increased by 5.5% to close at $7.32, supported by higher trading volume compared to normal sessions, contrasting with a 1.7% loss over the past four weeks [1] - The rise in XGN shares is linked to positive market sentiment driven by bullish analyst coverage, particularly from Craig-Hallum, which initiated coverage with a Buy rating and a $12 price target, indicating over 70% upside potential [2] - Exagen's AVISE CTD test has demonstrated significantly improved diagnostic accuracy for autoimmune diseases, contributing to growing investor confidence and optimism regarding the company's test expansion and leadership enhancements [2] Group 2 - The company is projected to report a quarterly loss of $0.18 per share, reflecting a year-over-year decline of 12.5%, while revenues are expected to reach $15.4 million, a 2.3% increase from the previous year [3] - The consensus EPS estimate for Exagen has remained unchanged over the last 30 days, suggesting that stock price movements may not sustain without trends in earnings estimate revisions [4] - Exagen holds a Zacks Rank of 3 (Hold), indicating a neutral outlook within the Zacks Medical - Products industry [5]