BTIG Research Issues Positive Forecast for Exagen (NASDAQ:XGN) Stock Price

Exagen (NASDAQ:XGN) had its price objective upped by BTIG Research from $13.00 to $15.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently weighed in on XGN. Canaccord Genuity Group raised their price target on Exagen from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Exagen in a research report on Wednesday, October 8th. KeyCorp boosted their target price on shares of Exagen from $12.00 to $15.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 target price on shares of Exagen in a report on Wednesday, July 30th. Finally, B. Riley reiterated a “buy” rating and set a $18.00 price target (up from $15.00) on shares of Exagen in a report on Wednesday, November 5th. Eight 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 company has an average rating of “Moderate Buy” and a consensus price target of $14.17.

Exagen Stock Performance

NASDAQ:XGN opened at $9.46 on Monday. The company has a current ratio of 4.08, a quick ratio of 4.08 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $214.39 million, a P/E ratio of -10.28 and a beta of 1.66. The firm has a 50-day moving average price of $10.69 and a two-hundred day moving average price of $8.62. Exagen has a twelve month low of $2.62 and a twelve month high of $12.23.

Exagen (NASDAQ:XGN) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.06). Exagen had a negative net margin of 29.94% and a negative return on equity of 113.48%. The business had revenue of $17.24 million during the quarter, compared to analyst estimates of $16.90 million. Exagen has set its FY 2025 guidance at EPS. As a group, research analysts expect that Exagen will post -0.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO John Aballi sold 31,787 shares of the company’s stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $11.82, for a total transaction of $375,722.34. Following the completion of the transaction, the chief executive officer owned 714,427 shares of the company’s stock, valued at $8,444,527.14. This represents a 4.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 12.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Exagen

Several hedge funds have recently modified their holdings of XGN. Balyasny Asset Management L.P. purchased a new position in shares of Exagen in the 2nd quarter worth $5,017,000. Russell Investments Group Ltd. acquired a new stake in Exagen during the second quarter worth about $1,540,000. FourWorld Capital Management LLC acquired a new position in shares of Exagen in the 2nd quarter valued at about $1,456,000. Manatuck Hill Partners LLC purchased a new stake in shares of Exagen during the 2nd quarter worth about $1,222,000. Finally, Massar Capital Management LP increased its position in Exagen by 715.7% during the 2nd quarter. Massar Capital Management LP now owns 170,000 shares of the company’s stock worth $1,187,000 after purchasing an additional 149,160 shares in the last quarter. 75.25% of the stock is owned by institutional investors and hedge funds.

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).