Exagen (NASDAQ:XGN) Stock Price Target Lowered at Canaccord Genuity Group

Exagen (NASDAQ:XGN) had its price target reduced by analysts at Canaccord Genuity Group from $11.00 to $9.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group‘s price objective would suggest a potential upside of 81.09% from the company’s previous close.

XGN has been the subject of a number of other reports. BTIG Research restated a “buy” rating and issued a $9.00 price target on shares of Exagen in a research report on Wednesday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Exagen in a research report on Wednesday, November 4th. TD Cowen boosted their price objective on Exagen from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday, October 13th. Finally, B. Riley Financial started coverage on Exagen in a report on Friday, September 11th. They issued a “buy” rating and a $12.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Exagen presently has an average rating of “Moderate Buy” and a consensus price target of $9.88.

Exagen Price Performance

Shares of NASDAQ:XGN traded down $0.29 during midday trading on Wednesday, hitting $4.97. The company’s stock had a trading volume of 699,214 shares, compared to its average volume of 399,264. The company has a market cap of $120.42 million, a P/E ratio of -6.14 and a beta of 2.25. Exagen has a 12-month low of $2.59 and a 12-month high of $9.73. The business’s 50 day simple moving average is $7.88 and its 200 day simple moving average is $5.13. The company has a debt-to-equity ratio of 1.96, a quick ratio of 3.18 and a current ratio of 3.18.

Exagen (NASDAQ:XGN) last announced its quarterly earnings data on Tuesday, November 10th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The business had revenue of $18.42 million for the quarter, compared to analysts’ expectations of $18.34 million. Exagen had a negative net margin of 26.61% and a negative return on equity of 104.46%. On average, analysts forecast that Exagen will post -0.69 EPS for the current year.

Insider Activity

In other news, major shareholder Jorey Chernett purchased 14,000 shares of the stock in a transaction dated Monday, October 19th. The stock was acquired at an average cost of $7.46 per share, for a total transaction of $104,440.00. Following the completion of the transaction, the insider directly owned 2,618,540 shares in the company, valued at approximately $19,534,308.40. This represents a 0.54% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John Aballi sold 34,294 shares of the business’s stock in a transaction on Friday, October 16th. The shares were sold at an average price of $7.87, for a total value of $269,893.78. Following the completion of the sale, the chief executive officer owned 805,540 shares in the company, valued at $6,339,599.80. This represents a 4.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have acquired 29,585 shares of company stock valued at $195,682. 10.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. purchased a new position in Exagen in the 3rd quarter valued at approximately $418,000. Calamos Advisors LLC purchased a new stake in shares of Exagen during the third quarter worth $94,000. Penbrook Management LLC purchased a new stake in shares of Exagen during the third quarter worth $92,000. Flputnam Investment Management Co. acquired a new stake in shares of Exagen in the second quarter valued at $1,343,000. Finally, Corient Private Wealth LP acquired a new stake in shares of Exagen in the second quarter valued at $52,000. Institutional investors and hedge funds own 75.25% of the company’s stock.

Key Exagen News

Investors following XGN have been watching these news items:

• Positive Sentiment: BTIG Research reaffirmed its “Buy” rating and $9 price target, implying substantial upside from the roughly $5 share price cited in the report. BTIG Research ratings
• Positive Sentiment: Q3 revenue rose 7% year over year to $18.4 million, slightly topping estimates. For the first nine months, revenue grew 11%, net loss narrowed 12%, and adjusted EBITDA loss improved by more than 30%. Exagen reiterated 2026 revenue guidance of $72 million to $75 million and said its myositis offering remains on track for an early-2027 launch. Exagen Q3 results
• Negative Sentiment: Exagen’s Q3 loss of $0.25 per share was wider than analysts’ expected loss of about $0.18–$0.19. Operating expenses rose, pushing the operating loss to $4.4 million from $3.1 million a year earlier; cash also declined to $28.1 million from $35.7 million a year earlier. The earnings miss and ongoing cash burn are key risks despite revenue growth. Q3 earnings coverage

About Exagen

Exagen Inc. is a commercial-stage diagnostic company focused on improving the diagnosis and management of autoimmune and rheumatic diseases. The company develops and commercializes blood tests that help physicians identify autoimmune disease, distinguish among related conditions and monitor disease activity over time. Its principal product family is AVISE, which includes the AVISE CTD and AVISE Lupus tests, as well as monitoring and specialty tests used in the evaluation of systemic lupus erythematosus and other connective-tissue diseases.