Exagen Inc. (NASDAQ:XGN) Receives $26.00 Consensus Price Target from Brokerages

Exagen Inc. (NASDAQ:XGN) has earned a consensus recommendation of “Buy” from the eight analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $26.00.

Several analysts recently issued reports on XGN shares. Zacks Investment Research raised Exagen from a “sell” rating to a “hold” rating in a research note on Wednesday, July 14th. BTIG Research cut their target price on Exagen from $23.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, August 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Exagen in a research report on Friday, July 9th.

In other news, Director James L. L Tullis sold 10,858 shares of the business’s stock in a transaction that occurred on Monday, June 28th. The stock was sold at an average price of $14.98, for a total value of $162,652.84. Following the sale, the director now directly owns 21,348 shares of the company’s stock, valued at approximately $319,793.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 14,758 shares of company stock worth $208,028. Insiders own 48.90% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Wasatch Advisors Inc. raised its holdings in Exagen by 62.0% in the 1st quarter. Wasatch Advisors Inc. now owns 1,691,507 shares of the company’s stock worth $29,601,000 after acquiring an additional 647,104 shares during the last quarter. RTW Investments LP raised its holdings in Exagen by 30.1% in the 1st quarter. RTW Investments LP now owns 1,626,365 shares of the company’s stock worth $28,461,000 after acquiring an additional 376,234 shares during the last quarter. BlackRock Inc. raised its holdings in Exagen by 124.6% in the 2nd quarter. BlackRock Inc. now owns 585,670 shares of the company’s stock worth $8,779,000 after acquiring an additional 324,932 shares during the last quarter. Vanguard Group Inc. raised its holdings in Exagen by 25.9% in the 2nd quarter. Vanguard Group Inc. now owns 519,873 shares of the company’s stock worth $7,793,000 after acquiring an additional 106,908 shares during the last quarter. Finally, Platinum Investment Management Ltd. purchased a new position in Exagen in the 1st quarter worth approximately $7,000,000. 55.63% of the stock is currently owned by hedge funds and other institutional investors.

XGN opened at $13.65 on Wednesday. The company has a market cap of $220.13 million, a P/E ratio of -9.29 and a beta of 0.54. The business’s 50-day moving average price is $13.06 and its 200-day moving average price is $14.93. The company has a current ratio of 15.07, a quick ratio of 15.07 and a debt-to-equity ratio of 0.28. Exagen has a 12 month low of $10.13 and a 12 month high of $24.67.

Exagen (NASDAQ:XGN) last posted its earnings results on Monday, August 9th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.50) by $0.12. Exagen had a negative return on equity of 28.69% and a negative net margin of 43.54%. Equities research analysts forecast that Exagen will post -1.68 earnings per share for the current fiscal year.

Exagen Company Profile

Exagen Inc develops and commercializes various testing products based on its Cell-Bound Complement Activation Products technology under the AVISE brand in the United States. It enables rheumatologists to enhance care for patients through the diagnosis, prognosis, and monitoring of systemic lupus erythematosus (SLE) and rheumatoid arthritis (RA).

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Analyst Recommendations for Exagen (NASDAQ:XGN)

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