Exagen Inc. (NASDAQ:XGN) Receives $9.25 Consensus Price Target from Brokerages

Shares of Exagen Inc. (NASDAQ:XGN) have been given an average rating of “Moderate Buy” by the nine analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $9.25.

Several analysts have weighed in on the company. Weiss Ratings cut Exagen from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, May 12th. Canaccord Genuity Group cut their price objective on Exagen from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. B. Riley Financial reaffirmed a “buy” rating and set a $8.00 price objective (down from $18.00) on shares of Exagen in a research report on Friday, January 30th. BTIG Research cut their price objective on Exagen from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Finally, Wall Street Zen raised Exagen from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th.

Insider Activity at Exagen

In other news, CEO John Aballi sold 15,698 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $3.62, for a total value 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. The trade was a 2.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 12.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Exagen

A number of hedge funds have recently made changes to their positions in the stock. Balyasny Asset Management L.P. boosted its position in shares of Exagen by 27.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 919,187 shares of the company’s stock worth $5,589,000 after purchasing an additional 195,759 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Exagen by 7.7% in the 3rd quarter. Vanguard Group Inc. now owns 733,824 shares of the company’s stock worth $8,065,000 after purchasing an additional 52,205 shares in the last quarter. Invesco Ltd. bought a new stake in shares of Exagen in the 3rd quarter worth approximately $7,420,000. Kennedy Capital Management LLC boosted its position in shares of Exagen by 77.6% in the 3rd quarter. Kennedy Capital Management LLC now owns 551,848 shares of the company’s stock worth $6,065,000 after purchasing an additional 241,127 shares in the last quarter. Finally, Wexford Capital LP boosted its position in shares of Exagen by 6.9% in the 3rd quarter. Wexford Capital LP now owns 444,927 shares of the company’s stock worth $4,890,000 after purchasing an additional 28,579 shares in the last quarter. 75.25% of the stock is owned by institutional investors.

Exagen Stock Performance

Exagen stock opened at $4.26 on Tuesday. The stock’s 50 day simple moving average is $3.12 and its two-hundred day simple moving average is $4.88. The company has a debt-to-equity ratio of 1.67, a quick ratio of 3.47 and a current ratio of 3.47. The stock has a market cap of $102.92 million, a price-to-earnings ratio of -4.79 and a beta of 1.81. Exagen has a fifty-two week low of $2.59 and a fifty-two week high of $12.23.

Exagen (NASDAQ:XGN) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.07. The business had revenue of $17.31 million for the quarter, compared to analysts’ expectations of $16.41 million. Exagen had a negative return on equity of 94.37% and a negative net margin of 29.49%. As a group, analysts expect that Exagen will post -0.68 earnings per share for the current fiscal year.

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.