Exagen Inc. (NASDAQ:XGN) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Exagen Inc. (NASDAQ:XGN) have earned an average rating of “Moderate Buy” from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and eight have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $14.1667.

XGN has been the topic of several recent analyst reports. KeyCorp boosted their price target on Exagen from $12.00 to $15.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. BTIG Research boosted their target price on shares of Exagen from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, November 10th. B. Riley reissued a “buy” rating and set a $18.00 target price (up from $15.00) on shares of Exagen in a research note on Wednesday, November 5th. Canaccord Genuity Group raised their price target on shares of Exagen from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, October 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Exagen in a report on Wednesday, October 8th.

Insider Buying and Selling

In other Exagen news, CEO John Aballi sold 31,787 shares of the business’s stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $11.82, for a total transaction of $375,722.34. Following the completion of the sale, the chief executive officer owned 714,427 shares in the company, valued at approximately $8,444,527.14. The trade was a 4.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 12.60% of the company’s stock.

Institutional Investors Weigh In On Exagen

Several hedge funds and other institutional investors have recently made changes to their positions in XGN. Acadian Asset Management LLC purchased a new position in shares of Exagen in the 1st quarter worth about $25,000. Larson Financial Group LLC purchased a new stake in Exagen during the third quarter worth about $105,000. XTX Topco Ltd bought a new stake in Exagen in the second quarter worth about $133,000. Occudo Quantitative Strategies LP purchased a new position in Exagen in the second quarter valued at about $138,000. Finally, JPMorgan Chase & Co. boosted its stake in Exagen by 320,280.0% in the third quarter. JPMorgan Chase & Co. now owns 16,019 shares of the company’s stock valued at $176,000 after acquiring an additional 16,014 shares during the last quarter. 75.25% of the stock is owned by institutional investors.

Exagen Stock Performance

Shares of XGN opened at $6.43 on Friday. The company has a current ratio of 4.08, a quick ratio of 4.08 and a debt-to-equity ratio of 1.35. The firm’s fifty day simple moving average is $9.18 and its two-hundred day simple moving average is $8.85. Exagen has a 12 month low of $2.67 and a 12 month high of $12.23. The stock has a market capitalization of $145.70 million, a P/E ratio of -6.99 and a beta of 1.80.

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