The investment banks cited the company's access to proprietary technology and the potential $5 billion market for Exagen's testing options as reasons for its Outperform rating.
While some groups have communicated their concerns directly to the agency, stakeholders have also formed a new coalition to publicly take issue with FDA's actions.
The test, TruGraf, assesses differentially expressed genes in blood to rule out subclinical kidney transplant rejection in patients with stable renal function.
The firm said that a new R&D plant will enable it to develop non-core testing applications that allow it to enter new markets, such as veterinary diagnostics.
The plan focuses on five scientific priorities to advance research and development over the next five years, including developing diagnostic tests for the diseases.
