Exagen Inc. (NASDAQ:XGN) Receives $9.38 Consensus Price Target from Analysts

Shares of Exagen Inc. (NASDAQ:XGN) have been given an average rating of “Moderate Buy” by the ten ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $9.3750.

Several equities research analysts have weighed in on the company. William Blair reaffirmed an “outperform” rating on shares of Exagen in a research report on Tuesday, March 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Exagen in a research note on Wednesday, January 21st. Canaccord Genuity Group lowered their target price on shares of Exagen from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. TD Cowen lowered their target price on shares of Exagen from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Finally, Craig Hallum lowered their target price on shares of Exagen from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th.

Exagen Price Performance

Shares of XGN opened at $2.70 on Friday. The business’s 50-day moving average is $3.13 and its two-hundred day moving average is $5.88. The company has a market capitalization of $64.94 million, a P/E ratio of -2.93 and a beta of 1.93. The company has a debt-to-equity ratio of 1.39, a quick ratio of 3.45 and a current ratio of 3.45. Exagen has a fifty-two week low of $2.59 and a fifty-two week high of $12.23.

Exagen (NASDAQ:XGN) last announced its quarterly earnings results on Tuesday, March 10th. The company reported ($0.20) earnings per share for the quarter, hitting the consensus estimate of ($0.20). The company had revenue of $16.63 million for the quarter, compared to the consensus estimate of $16.46 million. Exagen had a negative return on equity of 105.03% and a negative net margin of 29.97%. Research analysts predict that Exagen will post -0.77 earnings per share for the current year.

Insider Activity

In other news, CEO John Aballi sold 15,698 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $3.62, for a total transaction of $56,826.76. Following the sale, the chief executive officer directly owned 687,299 shares of the company’s stock, valued at $2,488,022.38. This represents a 2.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 12.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Exagen

Several hedge funds have recently modified their holdings of XGN. Acadian Asset Management LLC purchased a new stake in shares of Exagen during the 1st quarter worth about $25,000. Geode Capital Management LLC boosted its stake in shares of Exagen by 45.6% during the 2nd quarter. Geode Capital Management LLC now owns 146,483 shares of the company’s stock worth $1,023,000 after acquiring an additional 45,884 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Exagen during the 2nd quarter worth about $133,000. Russell Investments Group Ltd. purchased a new stake in shares of Exagen during the 2nd quarter worth about $1,540,000. Finally, Occudo Quantitative Strategies LP purchased a new position in Exagen in the 2nd quarter valued at about $138,000. 75.25% of the stock is owned by hedge funds and other institutional investors.

Exagen Company Profile

Exagen Inc is a molecular diagnostics company focused on improving the detection and management of autoimmune diseases. Headquartered in the United States, the company develops, manufactures and markets laboratory tests designed to help clinicians address diagnostic challenges associated with complex connective tissue disorders.

The company’s flagship product portfolio, marketed under the Avise® brand, includes multi-analyte assays such as the Avise® Connective Tissue Disease (CTD) panel, Avise® Lupus panel and Avise® Sjögren’s panel.