Exagen (NASDAQ:XGN – Get Free Report) had its price objective dropped by BTIG Research from $9.00 to $8.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price target would suggest a potential upside of 101.01% from the stock’s current price.
A number of other analysts have also recently commented on the stock. William Blair reaffirmed an “outperform” rating on shares of Exagen in a report on Tuesday, March 10th. Weiss Ratings upgraded shares of Exagen from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, April 27th. Canaccord Genuity Group dropped their price target on shares of Exagen from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, April 20th. UBS Group set a $10.00 price target on shares of Exagen in a research report on Wednesday, March 11th. Finally, B. Riley Financial reiterated a “buy” rating and issued a $8.00 price target (down from $18.00) on shares of Exagen in a research report on Friday, January 30th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.25.
Check Out Our Latest Stock Analysis on XGN
Exagen Stock Up 34.9%
Exagen (NASDAQ:XGN – Get Free Report) last announced its earnings results on Monday, May 11th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.07. Exagen had a negative net margin of 29.97% and a negative return on equity of 105.03%. The business had revenue of $17.31 million during the quarter, compared to analysts’ expectations of $16.41 million. Equities research analysts forecast that Exagen will post -0.77 earnings per share for the current year.
Insider Buying and Selling at Exagen
In related news, CEO John Aballi sold 15,698 shares of the company’s stock in a transaction on 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 owned 687,299 shares in the company, valued at approximately $2,488,022.38. This represents a 2.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.60% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Exagen
Institutional investors have recently bought and sold shares of the stock. Truvestments Capital LLC grew its stake in Exagen by 109.5% during the fourth 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 in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Exagen in the 1st quarter worth about $25,000. Larson Financial Group LLC bought a new stake in shares of Exagen in the 3rd quarter worth about $105,000. Persistent Asset Partners Ltd bought a new stake in shares of Exagen in the 4th quarter worth about $80,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Exagen in the 4th quarter worth about $82,000. 75.25% of the stock is owned by hedge funds and other institutional investors.
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.
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