Craig Hallum Lowers Exagen (NASDAQ:XGN) Price Target to $10.00

Exagen (NASDAQ:XGN) had its target price reduced by investment analysts at Craig Hallum from $12.00 to $10.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Craig Hallum’s price objective points to a potential upside of 216.46% from the company’s current price.

XGN has been the subject of a number of other reports. William Blair reaffirmed an “outperform” rating on shares of Exagen in a research note on Tuesday. TD Cowen dropped their price target on Exagen from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. BTIG Research cut their price target on Exagen from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday. KeyCorp reduced their price objective on Exagen from $15.00 to $10.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, B. Riley Financial reiterated a “buy” rating and set a $8.00 price objective (down from $18.00) on shares of Exagen in a report on Friday, January 30th. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $9.57.

Exagen Stock Performance

Shares of XGN opened at $3.16 on Wednesday. The firm has a market cap of $71.61 million, a P/E ratio of -3.43 and a beta of 1.88. Exagen has a twelve month low of $2.91 and a twelve month high of $12.23. The company has a debt-to-equity ratio of 1.39, a quick ratio of 4.08 and a current ratio of 3.45. The firm’s 50 day moving average price is $4.12 and its two-hundred day moving average price is $7.47.

Exagen (NASDAQ:XGN) last issued its quarterly earnings data on Tuesday, March 10th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting 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 company had revenue of $16.63 million during the quarter, compared to the consensus estimate of $16.46 million. On average, analysts forecast that Exagen will post -0.88 EPS for the current fiscal year.

Insider Transactions at Exagen

In other Exagen news, CEO John Aballi sold 15,698 shares of Exagen stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $3.62, for a total value of $56,826.76. Following the sale, the chief executive officer directly owned 687,299 shares in the company, valued at approximately $2,488,022.38. The trade was a 2.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.60% of the company’s stock.

Hedge Funds Weigh In On Exagen

Hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new stake in shares of Exagen in the first quarter valued at about $25,000. Truvestments Capital LLC raised its holdings in 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 acquiring an additional 3,225 shares in the last quarter. Persistent Asset Partners Ltd acquired a new position in Exagen during the fourth quarter valued at approximately $80,000. Schonfeld Strategic Advisors LLC acquired a new position in Exagen during the fourth quarter valued at approximately $82,000. Finally, Jain Global LLC bought a new position in Exagen in the fourth quarter valued at approximately $82,000. Institutional investors own 75.25% of the company’s stock.

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.