We initiate coverage on Exagen (NASDAQ: XGN ) at Buy. In our view, Exagen’s turnaround is gaining traction. The core AVISE diagnostics franchise is growing, margins are improving, and the company recently added new biomarker tests (for lupus and RA) thatAnalyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in XGN over ...