Exagen (NASDAQ:XGN) Given New $7.00 Price Target at Canaccord Genuity Group

Exagen (NASDAQ:XGN) had its price objective lifted by Canaccord Genuity Group from $5.00 to $7.00 in a research report released on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, William Blair reissued an “outperform” rating on shares of Exagen in a research report on Wednesday, November 13th.

Exagen Trading Up 15.9 %

Exagen stock opened at $3.58 on Friday. The business has a 50 day moving average price of $3.92 and a two-hundred day moving average price of $3.03. The company has a quick ratio of 4.05, a current ratio of 4.05 and a debt-to-equity ratio of 1.54. Exagen has a 12 month low of $1.30 and a 12 month high of $6.22. The stock has a market cap of $63.14 million, a price-to-earnings ratio of -3.81 and a beta of 1.49.

Exagen (NASDAQ:XGN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.02. The business had revenue of $12.51 million for the quarter, compared to analysts’ expectations of $13.55 million. Exagen had a negative return on equity of 92.58% and a negative net margin of 30.36%. During the same period in the previous year, the business posted ($0.31) earnings per share. As a group, equities analysts forecast that Exagen will post -0.87 EPS for the current year.

Insider Buying and Selling at Exagen

In other Exagen news, major shareholder Nmsic Co-Investment Fund, L.P. sold 200,000 shares of Exagen stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $3.30, for a total value of $660,000.00. Following the completion of the transaction, the insider now owns 2,108,958 shares in the company, valued at approximately $6,959,561.40. The trade was a 8.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John Aballi bought 24,305 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were acquired at an average price of $2.81 per share, for a total transaction of $68,297.05. Following the acquisition, the chief executive officer now directly owns 689,799 shares of the company’s stock, valued at approximately $1,938,335.19. The trade was a 3.65 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 26.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in XGN. Verus Capital Partners LLC bought a new position in Exagen in the 3rd quarter worth approximately $39,000. Creative Planning acquired a new position in shares of Exagen during the third quarter valued at $110,000. Renaissance Technologies LLC boosted its holdings in Exagen by 93.3% in the second quarter. Renaissance Technologies LLC now owns 94,234 shares of the company’s stock valued at $172,000 after acquiring an additional 45,476 shares during the last quarter. Palumbo Wealth Management LLC increased its position in Exagen by 14.5% in the third quarter. Palumbo Wealth Management LLC now owns 76,364 shares of the company’s stock worth $236,000 after purchasing an additional 9,695 shares during the period. Finally, Stonepine Capital Management LLC raised its holdings in Exagen by 49.0% during the 3rd quarter. Stonepine Capital Management LLC now owns 534,398 shares of the company’s stock worth $1,651,000 after purchasing an additional 175,701 shares during the last quarter. 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).