Exagen Inc. (NASDAQ:XGN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Exagen Inc. (NASDAQ:XGN) has received an average rating of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and eight have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $14.1667.

A number of equities analysts recently weighed in on the stock. B. Riley reaffirmed a “buy” rating and issued a $18.00 target price (up from $15.00) on shares of Exagen in a research note on Wednesday, November 5th. KeyCorp upped their price objective on Exagen from $12.00 to $15.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Canaccord Genuity Group lifted their target price on Exagen from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, October 27th. BTIG Research boosted their target price on Exagen from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Exagen in a research report on Wednesday, October 8th.

Insider Buying and Selling

In related news, CEO John Aballi sold 31,787 shares of the firm’s stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $11.82, for a total value of $375,722.34. Following the completion of the transaction, the chief executive officer owned 714,427 shares of the company’s stock, valued at approximately $8,444,527.14. This trade represents a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.60% of the company’s stock.

Hedge Funds Weigh In On Exagen

A number of large investors have recently modified their holdings of the business. Bridgeway Capital Management LLC increased its position in shares of Exagen by 10.3% in the second quarter. Bridgeway Capital Management LLC now owns 27,800 shares of the company’s stock valued at $194,000 after acquiring an additional 2,600 shares during the last quarter. Calamos Advisors LLC raised its stake in shares of Exagen by 3.5% during the 3rd quarter. Calamos Advisors LLC now owns 78,090 shares of the company’s stock worth $858,000 after purchasing an additional 2,677 shares in the last quarter. Huntleigh Advisors Inc. raised its stake in Exagen by 5.7% in the second quarter. Huntleigh Advisors Inc. now owns 87,861 shares of the company’s stock valued at $613,000 after buying an additional 4,753 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Exagen in the first quarter valued at approximately $25,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Exagen by 3.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 229,115 shares of the company’s stock worth $2,518,000 after acquiring an additional 8,499 shares during the period. 75.25% of the stock is currently owned by institutional investors and hedge funds.

Exagen Price Performance

Shares of XGN opened at $6.20 on Friday. The stock has a 50 day simple moving average of $8.88 and a 200 day simple moving average of $8.84. Exagen has a 52-week low of $2.67 and a 52-week high of $12.23. The company has a debt-to-equity ratio of 1.35, a quick ratio of 4.08 and a current ratio of 4.08. The firm has a market capitalization of $140.38 million, a PE ratio of -6.73 and a beta of 1.80.

Exagen (NASDAQ:XGN) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). Exagen had a negative net margin of 29.94% and a negative return on equity of 113.48%. The company had revenue of $17.24 million during the quarter, compared to the consensus estimate of $16.90 million. Sell-side analysts predict that Exagen will post -0.88 EPS for the current fiscal year.

About Exagen

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.