TD Cowen Cuts Exagen (NASDAQ:XGN) Price Target to $10.00

Exagen (NASDAQ:XGN) had its price target cut by TD Cowen from $13.00 to $10.00 in a research report report published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Canaccord Genuity Group lifted their target price on shares of Exagen from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Exagen in a research report on Wednesday, January 21st. B. Riley Financial reiterated a “buy” rating and issued a $8.00 price objective (down from $18.00) on shares of Exagen in a report on Friday, January 30th. Finally, BTIG Research lowered their target price on Exagen from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Exagen has an average rating of “Moderate Buy” and an average price target of $11.43.

Exagen Price Performance

Shares of NASDAQ XGN opened at $3.80 on Tuesday. The stock has a market capitalization of $86.11 million, a P/E ratio of -4.13 and a beta of 1.90. Exagen has a one year low of $2.67 and a one year high of $12.23. The firm’s 50 day simple moving average is $4.69 and its two-hundred day simple moving average is $7.91. The company has a debt-to-equity ratio of 1.35, a current ratio of 4.08 and a quick ratio of 4.08.

Insider Activity

In other news, CEO John Aballi sold 11,430 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $3.61, for a total transaction of $41,262.30. Following the completion of the transaction, the chief executive officer directly owned 702,997 shares of the company’s stock, valued at approximately $2,537,819.17. This represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 12.60% of the company’s stock.

Institutional Trading of Exagen

Large investors have recently modified their holdings of the business. FourWorld Capital Management LLC purchased a new stake in Exagen in the 2nd quarter worth approximately $1,456,000. Citizens Financial Group Inc. RI purchased a new position in shares of Exagen during the second quarter valued at approximately $472,000. Calamos Advisors LLC purchased a new position in shares of Exagen during the second quarter valued at approximately $526,000. Engineers Gate Manager LP raised its holdings in shares of Exagen by 52.9% during the fourth quarter. Engineers Gate Manager LP now owns 62,964 shares of the company’s stock valued at $383,000 after acquiring an additional 21,780 shares in the last quarter. Finally, Man Group plc bought a new position in shares of Exagen during the fourth quarter valued at approximately $198,000. 75.25% of the stock is owned by institutional investors.

Exagen Company Profile

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.