Exagen Inc. (NASDAQ:XGN) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts rate Exagen a "Moderate Buy": 10 analysts cover the stock (nine buys, one sell) with an average 1‑year target of about $9.38 versus the current share price near $2.68, implying significant upside per consensus.
• Recent results and valuation remain weak: Exagen reported (-$0.20) EPS that matched estimates and $16.63M in revenue, but has negative ROE and net margin, a market cap of ~$64M, and analysts forecast -0.77 EPS for the fiscal year.
• Mixed insider and institutional activity: the CEO sold 15,698 shares (a 2.23% cut to his stake), insiders own 12.6% of shares while institutional and hedge funds own about 75.25%, with several funds recently increasing positions.

Exagen Inc. (NASDAQ:XGN - Get Free Report) has been given an average recommendation of "Moderate Buy" by the ten research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating and nine have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $9.3750.

XGN has been the subject of several recent analyst reports. Craig Hallum lowered their target price on Exagen from $12.00 to $10.00 and set a "buy" rating for the company in a research note on Wednesday, March 11th. KeyCorp decreased their price target on Exagen from $15.00 to $10.00 and set an "overweight" rating for the company in a research note on Wednesday, March 11th. TD Cowen decreased their price target on Exagen from $13.00 to $10.00 and set a "buy" rating for the company in a research note on Tuesday, February 24th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Exagen in a research note on Wednesday, January 21st. Finally, William Blair reiterated an "outperform" rating on shares of Exagen in a research note on Tuesday, March 10th.

Exagen Stock Down 6.6%

Shares of Exagen stock opened at $2.68 on Friday. The business has a 50-day moving average of $3.14 and a 200-day moving average of $6.00. The company has a debt-to-equity ratio of 1.39, a current ratio of 3.45 and a quick ratio of 3.45. The company has a market capitalization of $64.45 million, a PE ratio of -2.91 and a beta of 1.93. Exagen has a 1-year low of $2.59 and a 1-year high of $12.23.

Exagen (NASDAQ:XGN - Get Free Report) last announced its earnings results on Tuesday, March 10th. The company reported ($0.20) earnings per share for the quarter, meeting the consensus estimate of ($0.20). The company had revenue of $16.63 million during the quarter, compared to the consensus estimate of $16.46 million. Exagen had a negative return on equity of 105.03% and a negative net margin of 29.97%. As a group, equities analysts forecast that Exagen will post -0.77 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO John Aballi sold 15,698 shares of Exagen stock in a transaction dated Tuesday, March 3rd. The stock was 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 in the company, valued at approximately $2,488,022.38. This trade represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.60% of the company's stock.

Hedge Funds Weigh In On Exagen

A number of hedge funds have recently bought and sold shares of the company. Balyasny Asset Management L.P. lifted its holdings in Exagen by 27.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 919,187 shares of the company's stock worth $5,589,000 after acquiring an additional 195,759 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Exagen by 7.7% in the third quarter. Vanguard Group Inc. now owns 733,824 shares of the company's stock worth $8,065,000 after acquiring an additional 52,205 shares during the last quarter. Invesco Ltd. bought a new position in Exagen in the third quarter worth about $7,420,000. Kennedy Capital Management LLC raised its holdings in shares of Exagen by 77.6% during the third quarter. Kennedy Capital Management LLC now owns 551,848 shares of the company's stock valued at $6,065,000 after buying an additional 241,127 shares during the last quarter. Finally, Wexford Capital LP raised its holdings in shares of Exagen by 6.9% during the third quarter. Wexford Capital LP now owns 444,927 shares of the company's stock valued at $4,890,000 after buying an additional 28,579 shares during the last quarter. 75.25% of the stock is currently owned by institutional investors and hedge funds.

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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