Exagen Inc. (NASDAQ:XGN) Stock Has Average Target Price of $9.75

Shares of Exagen Inc. (NASDAQ:XGN) have been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $10.12.

A number of brokerages have recently issued reports on XGN. Roth Capital started coverage on shares of Exagen in a research report on Wednesday, June 24th. They issued a “buy” rating and a $8.00 target price for the company. BTIG Research increased their target price on shares of Exagen from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. B. Riley Financial started coverage on shares of Exagen in a report on Friday, September 11th. They set a “buy” rating and a $12.00 target price on the stock. TD Cowen lifted their price target on shares of Exagen from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday, October 13th. Finally, Canaccord Genuity Group lifted their price objective on Exagen from $9.00 to $11.00 and gave the company a “buy” rating in a report on Monday.

Exagen Stock Performance

Shares of XGN stock opened at $7.41 on Friday. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 1.96. The company has a 50-day simple moving average of $7.77 and a 200 day simple moving average of $5.45. Exagen has a 52 week low of $2.59 and a 52 week high of $12.23.

Exagen (NASDAQ:XGN) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.06. Exagen had a negative net margin of 26.61% and a negative return on equity of 104.46%. The firm had revenue of $19.94 million for the quarter, compared to analysts’ expectations of $17.80 million. As a group, equities analysts forecast that Exagen will post -0.69 earnings per share for the current fiscal year.

Insider Transactions at Exagen

In other Exagen news, CEO John Aballi sold 34,294 shares of the firm’s stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $7.87, for a total value of $269,893.78. Following the transaction, the chief executive officer directly owned 805,540 shares of the company’s stock, valued at $6,339,599.80. This trade represents a 4.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder Jorey Chernett acquired 14,000 shares of the stock in a transaction on Monday, October 19th. The shares were purchased at an average price of $7.46 per share, with a total value of $104,440.00. Following the completion of the transaction, the insider owned 2,618,540 shares of the company’s stock, valued at approximately $19,534,308.40. This represents a 0.54% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Flputnam Investment Management Co. bought a new position in Exagen in the 2nd quarter valued at approximately $1,343,000. FourWorld Capital Management LLC boosted its position in Exagen by 61.2% during the 1st quarter. FourWorld Capital Management LLC now owns 439,950 shares of the company’s stock worth $1,320,000 after buying an additional 166,950 shares during the period. GSA Capital Partners LLP bought a new stake in Exagen during the 2nd quarter worth approximately $998,000. Man Group plc bought a new stake in Exagen during the 2nd quarter worth approximately $778,000. Finally, Sei Investments Co. increased its position in Exagen by 107.0% in the 1st quarter. Sei Investments Co. now owns 244,240 shares of the company’s stock valued at $733,000 after acquiring an additional 126,235 shares during the period. Institutional investors own 75.25% of the company’s stock.

Exagen Company Profile

Exagen Inc (NASDAQ: XGN) is a diagnostic healthcare company focused on autoimmune diseases. The company develops and commercializes blood tests designed to help physicians diagnose, differentiate and monitor conditions such as systemic lupus erythematosus, rheumatoid arthritis and other connective tissue diseases.

Exagen’s principal product family is AVISE, a suite of proprietary autoimmune testing services that includes AVISE CTD, AVISE Lupus and monitoring tests. These assays combine multiple biomarkers and are intended to provide physicians with information that may support earlier or more informed clinical decisions, particularly in rheumatology.

Exagen operates a specialized laboratory testing business serving healthcare providers primarily in the United States.