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

Exagen Inc. (NASDAQ:XGN) has earned an average rating of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and nine have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $9.5714.

A number of analysts have recently commented on XGN shares. Canaccord Genuity Group cut their price target on Exagen from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. Wall Street Zen lowered Exagen from a “hold” rating to a “sell” rating in a research report on Saturday, March 14th. Craig Hallum cut their target price on Exagen from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. TD Cowen reduced their price target on Exagen from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Finally, KeyCorp decreased their price target on shares of Exagen from $15.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, March 11th.

Exagen Price Performance

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

Exagen (NASDAQ:XGN) last issued its earnings results on Tuesday, March 10th. The company reported ($0.20) EPS for the quarter, meeting the consensus estimate of ($0.20). Exagen had a negative net margin of 29.97% and a negative return on equity of 105.03%. The firm had revenue of $16.63 million during the quarter, compared to the consensus estimate of $16.46 million. On average, equities analysts anticipate that Exagen will post -0.88 EPS for the current year.

Insider Activity at Exagen

In other news, CEO John Aballi sold 15,698 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were 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 directly owned 687,299 shares in the company, valued at $2,488,022.38. This represents a 2.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 12.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Exagen

Several large investors have recently made changes to their positions in the stock. Bridgeway Capital Management LLC grew its holdings in Exagen by 10.3% during the second quarter. Bridgeway Capital Management LLC now owns 27,800 shares of the company’s stock worth $194,000 after purchasing an additional 2,600 shares during the period. Calamos Advisors LLC increased its holdings in shares of Exagen by 3.5% during the 3rd quarter. Calamos Advisors LLC now owns 78,090 shares of the company’s stock worth $858,000 after acquiring an additional 2,677 shares during the last quarter. Truvestments Capital LLC raised its stake in Exagen by 109.5% in the 4th quarter. Truvestments Capital LLC now owns 6,169 shares of the company’s stock valued at $38,000 after acquiring an additional 3,225 shares during the period. State Street Corp lifted its holdings in Exagen by 6.9% during the 4th quarter. State Street Corp now owns 71,256 shares of the company’s stock valued at $433,000 after purchasing an additional 4,600 shares during the last quarter. Finally, Huntleigh Advisors Inc. boosted its position in Exagen by 6.3% during 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 period. Institutional investors and hedge funds 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.