Exagen (NASDAQ:XGN – Free Report) had its target price trimmed by Canaccord Genuity Group from $11.00 to $9.00 in a research note published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.
XGN has been the subject of several other reports. B. Riley Financial assumed coverage on shares of Exagen in a report on Friday, September 11th. They issued a “buy” rating and a $12.00 price target for the company. TD Cowen increased their price objective on shares of Exagen from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday, October 13th. BTIG Research reissued a “buy” rating and issued a $9.00 target price on shares of Exagen in a report on Wednesday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Exagen in a research note on Wednesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.88.
View Our Latest Stock Analysis on Exagen
Exagen Price Performance
Shares of NASDAQ XGN opened at $5.03 on Wednesday. Exagen has a twelve month low of $2.59 and a twelve month high of $9.73. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $121.85 million, a price-to-earnings ratio of -6.71 and a beta of 2.25. The business has a 50 day simple moving average of $7.84 and a 200-day simple moving average of $5.13.
Exagen (NASDAQ:XGN – Get Free Report) last posted its quarterly earnings results on Tuesday, November 10th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.07). The firm had revenue of $18.42 million for the quarter, compared to analyst estimates of $18.34 million. Exagen had a negative net margin of 25.14% and a negative return on equity of 123.63%. As a group, equities research analysts expect that Exagen will post -0.69 earnings per share for the current year.
Insider Buying and Selling at Exagen
In other news, major shareholder Jorey Chernett acquired 14,000 shares of the business’s stock in a transaction that occurred on Monday, October 19th. The shares were purchased at an average cost of $7.46 per share, for a total transaction of $104,440.00. Following the transaction, the insider directly owned 2,618,540 shares in the company, valued at $19,534,308.40. This trade represents a 0.54% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John Aballi sold 34,294 shares of Exagen stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $7.87, for a total transaction of $269,893.78. Following the completion of the sale, the chief executive officer owned 805,540 shares in the company, valued at approximately $6,339,599.80. This represents a 4.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have bought 29,585 shares of company stock valued at $195,682. Corporate insiders own 10.40% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of XGN. Corient Private Wealth LP bought a new stake in shares of Exagen during the second quarter valued at approximately $52,000. Penbrook Management LLC bought a new position in shares of Exagen in the third quarter worth $92,000. Calamos Advisors LLC bought a new position in Exagen in the 3rd quarter valued at about $94,000. Bank of New York Mellon Corp acquired a new position in shares of Exagen during the second quarter valued at approximately $97,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Exagen by 137.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 62,571 shares of the company’s stock worth $188,000 after buying an additional 36,213 shares in the last quarter. Institutional investors own 75.25% of the company’s stock.
Top Exagen Stories
Investors following XGN have been watching these stories:
- Positive Sentiment: Q3 revenue increased 7% year over year to $18.4 million, slightly ahead of estimates. For the first nine months, revenue rose 11%, net loss narrowed 12%, and adjusted EBITDA loss improved by more than 30%. Exagen Q3 results
- Neutral Sentiment: BTIG reaffirmed its Buy rating and $9 target. Canaccord also kept a Buy rating but cut its target from $11 to $9, tempering the positive analyst outlook. Canaccord analyst rating
- Negative Sentiment: Q3 adjusted loss of $0.25 per share missed analyst expectations of roughly $0.18–$0.19. Operating expenses increased and the operating loss widened to $4.4 million from $3.1 million a year earlier; cash also fell to $28.1 million from $35.7 million a year earlier. These results highlight continued losses and cash-use concerns despite revenue growth. Q3 earnings report
Exagen Company Profile
Exagen Inc. is a commercial-stage diagnostic company focused on improving the diagnosis and management of autoimmune and rheumatic diseases. The company develops and commercializes blood tests that help physicians identify autoimmune disease, distinguish among related conditions and monitor disease activity over time. Its principal product family is AVISE, which includes the AVISE CTD and AVISE Lupus tests, as well as monitoring and specialty tests used in the evaluation of systemic lupus erythematosus and other connective-tissue diseases.
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