Exagen (NASDAQ:XGN) Price Target Raised to $15.00

Exagen (NASDAQ:XGN) had its target price lifted by Canaccord Genuity Group from $11.00 to $15.00 in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm currently has a buy rating on the stock.

XGN has been the topic of a number of other research reports. Craig Hallum began coverage on Exagen in a research report on Wednesday, July 23rd. They issued a “buy” rating and a $12.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price objective on shares of Exagen in a research report on Wednesday, July 30th. B. Riley began coverage on Exagen in a research report on Thursday, September 11th. They issued a “buy” rating and a $15.00 price objective on the stock. 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. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Exagen in a research report on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.33.

Exagen Price Performance

Shares of NASDAQ XGN opened at $11.85 on Monday. The business’s 50 day moving average price is $10.55 and its 200 day moving average price is $8.26. The firm has a market cap of $260.70 million, a P/E ratio of -13.31 and a beta of 1.54. Exagen has a 52 week low of $2.38 and a 52 week high of $12.23. The company has a quick ratio of 4.95, a current ratio of 4.95 and a debt-to-equity ratio of 1.06.

Exagen (NASDAQ:XGN) last issued its earnings results on Tuesday, July 29th. The company reported ($0.18) EPS for the quarter, meeting analysts’ consensus estimates of ($0.18). The firm had revenue of $17.20 million for the quarter, compared to analyst estimates of $16.25 million. Exagen had a negative return on equity of 130.38% and a negative net margin of 28.85%. On average, sell-side analysts expect that Exagen will post -0.88 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO John Aballi sold 31,787 shares of the stock in a transaction on Thursday, October 16th. The stock was 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 directly owned 714,427 shares of the company’s stock, valued at approximately $8,444,527.14. This represents a 4.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Huntleigh Advisors Inc. raised its stake in Exagen by 5.7% in 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 during the last quarter. Ameriprise Financial Inc. acquired a new position in Exagen in the 2nd quarter valued at $663,000. Bridgeway Capital Management LLC increased its stake in shares of Exagen by 10.3% in the 2nd quarter. Bridgeway Capital Management LLC now owns 27,800 shares of the company’s stock worth $194,000 after acquiring an additional 2,600 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new stake in shares of Exagen in the 2nd quarter worth $138,000. Finally, XTX Topco Ltd acquired a new stake in shares of Exagen in the 2nd quarter worth $133,000. 75.25% of the stock is owned by institutional investors and hedge funds.

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).