Exagen (NASDAQ:XGN) Given New $15.00 Price Target at Canaccord Genuity Group

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

Other equities research analysts have also recently issued research reports about the stock. Craig Hallum started coverage on shares of Exagen in a report on Wednesday, July 23rd. They issued a “buy” rating and a $12.00 target price on the stock. BTIG Research raised their target price on shares of Exagen from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 target price on shares of Exagen in a report on Wednesday, July 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Exagen in a report on Wednesday, October 8th. Finally, KeyCorp raised their target price on shares of Exagen from $12.00 to $15.00 and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Eight research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Exagen currently has a consensus rating of “Moderate Buy” and an average target price of $13.33.

Exagen Price Performance

Shares of XGN opened at $11.91 on Monday. The company has a market capitalization of $262.02 million, a P/E ratio of -13.38 and a beta of 1.54. The company has a quick ratio of 4.95, a current ratio of 4.95 and a debt-to-equity ratio of 1.06. The firm has a 50 day moving average of $10.46 and a 200 day moving average of $8.15. Exagen has a twelve month low of $2.38 and a twelve month high of $12.23.

Exagen (NASDAQ:XGN) last announced its quarterly earnings results on Tuesday, July 29th. The company reported ($0.18) earnings per share for the quarter, meeting the consensus estimate of ($0.18). Exagen had a negative net margin of 28.85% and a negative return on equity of 130.38%. The company had revenue of $17.20 million during the quarter, compared to the consensus estimate of $16.25 million. As a group, equities research analysts anticipate that Exagen will post -0.88 earnings per share for the current fiscal year.

Insider Buying and Selling at Exagen

In other news, CEO John Aballi sold 31,787 shares of Exagen 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 transaction, the chief executive officer owned 714,427 shares in the company, valued at $8,444,527.14. This trade represents a 4.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.60% of the stock is owned by corporate insiders.

Institutional Trading of Exagen

Institutional investors and hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC bought a new stake in shares of Exagen during the 1st quarter valued at $25,000. XTX Topco Ltd bought a new stake in shares of Exagen during the 2nd quarter valued at $133,000. Occudo Quantitative Strategies LP bought a new stake in Exagen in the 2nd quarter valued at $138,000. Bridgeway Capital Management LLC increased its holdings in Exagen by 10.3% in the 2nd 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 during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in Exagen in the 2nd quarter valued at $217,000. 75.25% of the stock is currently owned by institutional investors.

About Exagen

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).