Exagen Inc. (NASDAQ:XGN) Given Average Rating of “Moderate Buy” by Analysts
by Sarita Garza · The Markets DailyShares of Exagen Inc. (NASDAQ:XGN – Get Free Report) have received a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and nine have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $9.5714.
XGN has been the topic of a number of recent research reports. BTIG Research dropped their price target on Exagen from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Exagen in a research note on Wednesday, January 21st. Canaccord Genuity Group dropped their price objective on shares of Exagen from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. KeyCorp cut 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. Finally, B. Riley Financial reiterated a “buy” rating and issued a $8.00 target price (down from $18.00) on shares of Exagen in a research note on Friday, January 30th.
Read Our Latest Stock Report on XGN
Exagen Price Performance
XGN opened at $3.06 on Monday. Exagen has a twelve month low of $2.59 and a twelve month high of $12.23. The company’s 50-day moving average price is $3.34 and its two-hundred day moving average price is $6.68. The stock has a market cap of $73.59 million, a price-to-earnings ratio of -3.33 and a beta of 1.93. The company has a quick ratio of 3.45, a current ratio of 3.45 and a debt-to-equity ratio of 1.39.
Exagen (NASDAQ:XGN – Get Free Report) last posted its quarterly earnings results on Tuesday, March 10th. The company reported ($0.20) EPS for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $16.46 million. As a group, equities analysts expect that Exagen will post -0.88 earnings per share for the current year.
Insider Buying and Selling
In related news, CEO John Aballi sold 15,698 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 687,299 shares of the company’s stock, valued at approximately $2,488,022.38. This trade represents a 2.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 12.60% of the company’s stock.
Institutional Investors Weigh In On Exagen
Several institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new position in shares of Exagen in the first quarter valued at $25,000. Truvestments Capital LLC lifted its holdings in Exagen by 109.5% during the 4th quarter. Truvestments Capital LLC now owns 6,169 shares of the company’s stock worth $38,000 after purchasing an additional 3,225 shares in the last quarter. Persistent Asset Partners Ltd purchased a new stake in Exagen during the 4th quarter worth about $80,000. Schonfeld Strategic Advisors LLC bought a new position in Exagen in the 4th quarter worth about $82,000. Finally, Jain Global LLC bought a new position in Exagen in the 4th quarter worth about $82,000. Hedge funds and other 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.