Exagen (NASDAQ:XGN) Price Target Raised to $7.00

Exagen (NASDAQ:XGN) had its target price increased by Canaccord Genuity Group from $5.00 to $7.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Separately, William Blair restated an “outperform” rating on shares of Exagen in a research report on Wednesday, November 13th.

Exagen Price Performance

Shares of XGN opened at $3.58 on Friday. The company has a market capitalization of $63.14 million, a P/E ratio of -3.81 and a beta of 1.49. Exagen has a twelve month low of $1.30 and a twelve month high of $6.22. The company has a quick ratio of 4.05, a current ratio of 4.05 and a debt-to-equity ratio of 1.54. The firm has a 50 day moving average of $3.94 and a 200 day moving average of $3.06.

Exagen (NASDAQ:XGN) last posted its earnings results on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.02. Exagen had a negative return on equity of 92.58% and a negative net margin of 30.36%. The business had revenue of $12.51 million during the quarter, compared to analyst estimates of $13.55 million. During the same quarter last year, the company earned ($0.31) EPS. As a group, equities research analysts anticipate that Exagen will post -0.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Exagen

In other news, major shareholder Nmsic Co-Investment Fund, L.P. sold 200,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $3.30, for a total transaction of $660,000.00. Following the completion of the sale, the insider now owns 2,108,958 shares of the company’s stock, valued at $6,959,561.40. The trade was a 8.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John Aballi acquired 24,305 shares of Exagen stock in a transaction dated Thursday, November 14th. The stock was bought at an average price of $2.81 per share, with a total value of $68,297.05. Following the completion of the purchase, the chief executive officer now directly owns 689,799 shares in the company, valued at $1,938,335.19. This represents a 3.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 26.10% of the stock is owned by corporate insiders.

Institutional Trading of Exagen

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Verus Capital Partners LLC bought a new stake in Exagen during the 3rd quarter valued at approximately $39,000. Creative Planning purchased a new stake in Exagen during the 3rd quarter valued at approximately $110,000. Renaissance Technologies LLC raised its position in shares of Exagen by 93.3% during the second quarter. Renaissance Technologies LLC now owns 94,234 shares of the company’s stock valued at $172,000 after buying an additional 45,476 shares during the last quarter. Palumbo Wealth Management LLC raised its position in shares of Exagen by 14.5% during the third quarter. Palumbo Wealth Management LLC now owns 76,364 shares of the company’s stock valued at $236,000 after buying an additional 9,695 shares during the last quarter. Finally, Stonepine Capital Management LLC lifted its holdings in shares of Exagen by 49.0% in the third quarter. Stonepine Capital Management LLC now owns 534,398 shares of the company’s stock worth $1,651,000 after buying an additional 175,701 shares in the last quarter. 75.25% of the stock is owned by hedge funds and other institutional investors.

Exagen Company Profile

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).