Exagen (NASDAQ:XGN) Earns Buy Rating from BTIG Research

Exagen (NASDAQ:XGN)‘s stock had its “buy” rating restated by research analysts at BTIG Research in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $9.00 price target on the stock. BTIG Research‘s target price would indicate a potential upside of 71.10% from the company’s previous close.

Several other brokerages also recently weighed in on XGN. Weiss Ratings reiterated a “sell (e+)” rating on shares of Exagen in a report on Wednesday, November 4th. B. Riley Financial initiated coverage on shares of Exagen in a research note on Friday, September 11th. They set a “buy” rating and a $12.00 price objective for the company. TD Cowen lifted their price objective on shares of Exagen from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, October 13th. Finally, Canaccord Genuity Group upped their price objective on shares of Exagen from $9.00 to $11.00 and gave the company a “buy” rating in a report on Monday, October 19th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Exagen presently has an average rating of “Moderate Buy” and an average target price of $10.12.

Exagen Price Performance

Shares of XGN stock opened at $5.26 on Wednesday. The stock’s 50-day simple moving average is $7.88 and its 200-day simple moving average is $5.13. The company has a debt-to-equity ratio of 1.96, a current ratio of 3.18 and a quick ratio of 3.18. Exagen has a fifty-two week low of $2.59 and a fifty-two week high of $9.73.

Exagen (NASDAQ:XGN) last announced its quarterly earnings data on Tuesday, November 10th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.07). Exagen had a negative return on equity of 104.46% and a negative net margin of 26.61%. The firm had revenue of $18.42 million during the quarter, compared to analysts’ expectations of $18.34 million. On average, analysts forecast that Exagen will post -0.69 EPS for the current year.

Insider Activity

In other Exagen news, CEO John Aballi sold 34,294 shares of Exagen stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $7.87, for a total transaction of $269,893.78. Following the completion of the transaction, the chief executive officer owned 805,540 shares in the company, valued at approximately $6,339,599.80. This trade represents a 4.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder Jorey Chernett acquired 7,085 shares of the firm’s stock in a transaction dated Tuesday, November 10th. The stock was bought at an average cost of $5.26 per share, with a total value of $37,267.10. Following the acquisition, the insider owned 2,625,625 shares in the company, valued at approximately $13,810,787.50. This trade represents a 0.27% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 29,585 shares of company stock worth $195,682 over the last ninety days. 10.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. FourWorld Capital Management LLC raised its position in Exagen by 61.2% during the first quarter. FourWorld Capital Management LLC now owns 439,950 shares of the company’s stock valued at $1,320,000 after acquiring an additional 166,950 shares in the last quarter. Flputnam Investment Management Co. purchased a new stake in Exagen in the 2nd quarter worth approximately $1,343,000. Sei Investments Co. grew its stake in shares of Exagen by 107.0% during the 1st quarter. Sei Investments Co. now owns 244,240 shares of the company’s stock worth $733,000 after purchasing an additional 126,235 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Exagen during the 2nd quarter worth approximately $998,000. Finally, Renaissance Technologies LLC grew its stake in shares of Exagen by 47.3% during the 1st quarter. Renaissance Technologies LLC now owns 203,272 shares of the company’s stock worth $610,000 after purchasing an additional 65,272 shares during the period. 75.25% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Exagen

Here are the key news stories impacting Exagen this week:

• Positive Sentiment: Third-quarter revenue rose 7% year over year to $18.4 million, slightly exceeding estimates. For the first nine months, revenue increased 11%, net loss narrowed 12%, and adjusted EBITDA loss improved by more than 30%. Exagen third-quarter results
• Positive Sentiment: Major shareholder Jorey Chernett bought 7,085 shares on Nov. 10 and 8,500 on Nov. 9, more than offsetting his 11,265-share sale on Nov. 6. The net buying is a modest confidence signal. Chernett’s share purchases
• Positive Sentiment: Exagen said it remains on track to launch its myositis offering in early 2027, potentially broadening its diagnostics platform.
• Neutral Sentiment: The company reaffirmed 2026 revenue guidance of $72 million to $75 million, a range that includes the roughly $73.9 million analyst consensus, so it was not a forecast upgrade.
• Negative Sentiment: Quarterly loss was $0.25 per share, worse than analyst expectations of roughly $0.18–$0.19. Operating expenses rose, widening the operating loss to $4.4 million from $3.1 million a year earlier; quarterly adjusted EBITDA loss also edged wider. Cash of $28.1 million was lower than the $35.7 million reported a year earlier, keeping profitability and cash use in focus. Q3 earnings report

Exagen Company Profile

Exagen Inc. is a commercial-stage diagnostic company focused on improving the diagnosis and management of autoimmune and rheumatic diseases. The company develops and commercializes blood tests that help physicians identify autoimmune disease, distinguish among related conditions and monitor disease activity over time. Its principal product family is AVISE, which includes the AVISE CTD and AVISE Lupus tests, as well as monitoring and specialty tests used in the evaluation of systemic lupus erythematosus and other connective-tissue diseases.