Exagen (NASDAQ:XGN) Given “Overweight” Rating at Cantor Fitzgerald

Exagen (NASDAQ:XGN)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $8.00 target price on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 137.39% from the company’s current price.

A number of other brokerages also recently commented on XGN. William Blair reissued an “outperform” rating on shares of Exagen in a research report on Wednesday, November 13th. Canaccord Genuity Group increased their target price on Exagen from $5.00 to $7.00 and gave the company a “buy” rating in a report on Friday, January 3rd.

Exagen Price Performance

NASDAQ:XGN opened at $3.37 on Monday. Exagen has a 52 week low of $1.30 and a 52 week high of $6.22. The stock’s fifty day moving average is $4.02 and its two-hundred day moving average is $3.10. The company has a market capitalization of $59.44 million, a P/E ratio of -3.59 and a beta of 1.42. 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 (NASDAQ:XGN) last announced its earnings results 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. Exagen had a negative return on equity of 92.58% and a negative net margin of 30.36%. The company had revenue of $12.51 million for the quarter, compared to analyst estimates of $13.55 million. During the same quarter in the previous year, the company earned ($0.31) earnings per share. Equities analysts expect that Exagen will post -0.87 EPS for the current year.

Insider Transactions at Exagen

In related news, CEO John Aballi acquired 24,305 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was purchased at an average cost of $2.81 per share, for a total transaction of $68,297.05. Following the transaction, the chief executive officer now directly owns 689,799 shares of the company’s stock, valued at approximately $1,938,335.19. This trade represents a 3.65 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Nmsic Co-Investment Fund, L.P. sold 200,000 shares of the firm’s 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 transaction, the insider now directly owns 2,108,958 shares of the company’s stock, valued at $6,959,561.40. The trade was a 8.66 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 26.10% of the company’s stock.

Institutional Investors Weigh In On Exagen

Hedge funds and other institutional investors have recently made changes to their positions in the business. Stonepine Capital Management LLC increased its holdings in Exagen by 49.0% in the 3rd quarter. Stonepine Capital Management LLC now owns 534,398 shares of the company’s stock valued at $1,651,000 after purchasing an additional 175,701 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of 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 buying an additional 45,476 shares in the last quarter. Palumbo Wealth Management LLC raised its holdings in shares of Exagen by 14.5% during the 3rd quarter. Palumbo Wealth Management LLC now owns 76,364 shares of the company’s stock valued at $236,000 after buying an additional 9,695 shares during the period. Creative Planning acquired a new stake in Exagen in the third quarter valued at approximately $110,000. Finally, Verus Capital Partners LLC purchased a new stake in shares of Exagen during the third quarter valued at approximately $39,000. Hedge funds and other institutional investors 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).