BTIG Research Boosts Exagen (NASDAQ:XGN) Price Target to $15.00

Exagen (NASDAQ:XGN) had its price target increased by equities research analysts at BTIG Research from $13.00 to $15.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s target price would suggest a potential upside of 56.90% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Exagen in a research note on Wednesday, October 8th. B. Riley reissued a “buy” rating and set a $18.00 price objective (up from $15.00) on shares of Exagen in a research report on Wednesday. KeyCorp raised their target price on shares of 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 shares of Exagen from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price target on shares of Exagen in a research report on Wednesday, July 30th. Eight research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Exagen currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.17.

Exagen Stock Performance

Shares of NASDAQ XGN opened at $9.56 on Monday. The stock has a market cap of $216.63 million, a price-to-earnings ratio of -10.39 and a beta of 1.66. The company has a current ratio of 4.08, a quick ratio of 4.08 and a debt-to-equity ratio of 1.35. Exagen has a 1-year low of $2.62 and a 1-year high of $12.23. The stock’s 50-day moving average is $10.69 and its 200 day moving average is $8.59.

Exagen (NASDAQ:XGN) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $17.24 million for the quarter, compared to analysts’ expectations of $16.90 million. Exagen has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Exagen will post -0.88 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO John Aballi sold 31,787 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $11.82, for a total transaction 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 $8,444,527.14. This trade represents a 4.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Exagen

A number of institutional investors have recently modified their holdings of the stock. Bridgeway Capital Management LLC increased its holdings in shares of Exagen by 10.3% during 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 in the last quarter. Calamos Advisors LLC grew its position in Exagen by 3.5% during the 3rd quarter. Calamos Advisors LLC now owns 78,090 shares of the company’s stock valued at $858,000 after purchasing an additional 2,677 shares during the last quarter. Huntleigh Advisors Inc. increased its stake in Exagen by 5.7% during the 2nd quarter. Huntleigh Advisors Inc. now owns 87,861 shares of the company’s stock valued at $613,000 after purchasing an additional 4,753 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Exagen in the first quarter worth about $25,000. Finally, Kennedy Capital Management LLC lifted its stake in shares of Exagen by 5.3% in the second quarter. Kennedy Capital Management LLC now owns 310,721 shares of the company’s stock worth $2,169,000 after buying an additional 15,568 shares in the last quarter. 75.25% of the stock is owned by hedge funds and other institutional investors.

Exagen Company Profile

Exagen Inc develops and commercializes various testing products under the AVISE brand in the United States. The company enables healthcare providers to care for patients through the diagnosis, prognosis, and monitoring of autoimmune and autoimmune-related diseases, including systemic lupus erythematosus (SLE) and rheumatoid arthritis (RA).