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

Shares of Exagen Inc. (NASDAQ:XGN) have been given a consensus rating of “Moderate Buy” by the ten ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and nine have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $9.5714.

A number of brokerages have issued reports on XGN. Canaccord Genuity Group reduced their price objective on shares of Exagen from $15.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. KeyCorp dropped their target price on shares of Exagen from $15.00 to $10.00 and set an “overweight” rating for the company in a research report on Wednesday, March 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Exagen in a report on Wednesday, January 21st. TD Cowen reduced their price target on shares of Exagen from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Finally, Craig Hallum decreased their price objective on shares of Exagen from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th.

Exagen Stock Performance

NASDAQ:XGN opened at $2.68 on Monday. The stock has a 50 day simple moving average of $3.52 and a 200 day simple moving average of $6.91. The stock has a market cap of $64.45 million, a P/E ratio of -2.91 and a beta of 1.88. Exagen has a 1-year low of $2.63 and a 1-year high of $12.23. The company has a current ratio of 3.45, a quick ratio of 3.45 and a debt-to-equity ratio of 1.39.

Exagen (NASDAQ:XGN) last announced its earnings results on Tuesday, March 10th. The company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). The company had revenue of $16.63 million for the quarter, compared to analysts’ expectations of $16.46 million. Exagen had a negative net margin of 29.97% and a negative return on equity of 105.03%. Research analysts anticipate that Exagen will post -0.88 earnings per share for the current year.

Insider Buying and Selling at Exagen

In other Exagen news, CEO John Aballi sold 15,698 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $3.62, for a total transaction of $56,826.76. Following the completion of the transaction, the chief executive officer owned 687,299 shares of the company’s stock, valued at approximately $2,488,022.38. The trade was a 2.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.60% of the company’s stock.

Institutional Trading of Exagen

A number of hedge funds and other institutional investors have recently modified their holdings of XGN. Bridgeway Capital Management LLC increased its stake 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 buying an additional 2,600 shares during the period. Calamos Advisors LLC raised its stake in shares of Exagen by 3.5% during the third quarter. Calamos Advisors LLC now owns 78,090 shares of the company’s stock valued at $858,000 after acquiring an additional 2,677 shares during the last quarter. Truvestments Capital LLC lifted its holdings in shares of Exagen by 109.5% during the fourth quarter. Truvestments Capital LLC now owns 6,169 shares of the company’s stock worth $38,000 after purchasing an additional 3,225 shares during the period. State Street Corp grew its stake in shares of Exagen by 6.9% in the fourth quarter. State Street Corp now owns 71,256 shares of the company’s stock worth $433,000 after purchasing an additional 4,600 shares during the last quarter. Finally, Huntleigh Advisors Inc. grew its stake in shares of Exagen by 6.3% in the third quarter. Huntleigh Advisors Inc. now owns 93,353 shares of the company’s stock worth $1,026,000 after purchasing an additional 5,492 shares during the last quarter. Institutional investors own 75.25% of the company’s stock.

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.