Exagen (NASDAQ:XGN) Price Target Raised to $13.00

Key Points

• BTIG Research has raised its price target for Exagen (NASDAQ:XGN) from $11.00 to $13.00, indicating an 11.21% potential upside from the current stock price.
• Eight analysts have given Exagen a "buy" rating, contributing to an average rating of "Moderate Buy" with a target price of $12.67.
• CEO John Aballi sold 31,787 shares of the company, representing a 4.26% decrease in his position, with the transaction valued at approximately $375,722.

Exagen (NASDAQ:XGN - Get Free Report) had its price target raised by equities research analysts at BTIG Research from $11.00 to $13.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. BTIG Research's price target indicates a potential upside of 11.21% from the stock's current price.

Several other equities analysts have also recently weighed in on XGN. Canaccord Genuity Group lifted their price objective on Exagen from $8.00 to $11.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. KeyCorp boosted their target price on 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 research note on Wednesday, July 30th. Craig Hallum started coverage on Exagen in a research note on Wednesday, July 23rd. They issued a "buy" rating and a $12.00 target price on the stock. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Exagen in a research note on Wednesday, October 8th. Eight 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.com, the company has an average rating of "Moderate Buy" and an average target price of $12.67.

Exagen Trading Down 0.3%

NASDAQ:XGN opened at $11.69 on Wednesday. Exagen has a fifty-two week low of $2.38 and a fifty-two week high of $11.99. The company has a debt-to-equity ratio of 1.06, a current ratio of 4.95 and a quick ratio of 4.95. The stock has a market capitalization of $257.18 million, a PE ratio of -13.13 and a beta of 1.54. The business's 50-day simple moving average is $10.28 and its 200-day simple moving average is $7.91.

Exagen (NASDAQ:XGN - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported ($0.18) earnings per share for the quarter, meeting the consensus estimate of ($0.18). Exagen had a negative return on equity of 130.38% and a negative net margin of 28.85%.The business had revenue of $17.20 million for the quarter, compared to analysts' expectations of $16.25 million. Exagen has set its FY 2025 guidance at EPS. Sell-side analysts expect that Exagen will post -0.88 earnings per share for the current fiscal year.

Insider Activity at Exagen

In other Exagen news, CEO John Aballi sold 31,787 shares of the firm's stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $11.82, for a total transaction of $375,722.34. Following the completion of the sale, the chief executive officer owned 714,427 shares of the company's stock, valued at $8,444,527.14. This trade represents a 4.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 12.60% of the company's stock.

Institutional Investors Weigh In On Exagen

Several hedge funds have recently added to or reduced their stakes in the business. Calamos Advisors LLC lifted its holdings in Exagen by 3.5% during the 3rd quarter. Calamos Advisors LLC now owns 78,090 shares of the company's stock valued at $858,000 after purchasing an additional 2,677 shares during the last quarter. Manatuck Hill Partners LLC acquired a new stake in Exagen during the 2nd quarter valued at $1,222,000. Massar Capital Management LP lifted its holdings in Exagen by 715.7% during the 2nd quarter. Massar Capital Management LP now owns 170,000 shares of the company's stock valued at $1,187,000 after purchasing an additional 149,160 shares during the last quarter. Mink Brook Asset Management LLC acquired a new stake in Exagen during the 2nd quarter valued at $907,000. Finally, FourWorld Capital Management LLC acquired a new stake in Exagen during the 2nd quarter valued at $1,456,000. Institutional investors and hedge funds own 75.25% of the company's stock.

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).

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