FY2024 EPS Estimates for Exagen Lowered by Cantor Fitzgerald

Exagen Inc. (NASDAQ:XGN - Free Report) - Stock analysts at Cantor Fitzgerald dropped their FY2024 earnings estimates for Exagen in a research note issued on Tuesday, January 21st. Cantor Fitzgerald analyst R. Osborn now expects that the company will post earnings per share of ($0.86) for the year, down from their prior forecast of ($0.85). Cantor Fitzgerald currently has a "Overweight" rating and a $8.00 target price on the stock. The consensus estimate for Exagen's current full-year earnings is ($0.87) per share. Cantor Fitzgerald also issued estimates for Exagen's FY2025 earnings at ($0.45) EPS.

Exagen (NASDAQ:XGN - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.02. The firm had revenue of $12.51 million for the quarter, compared to analyst estimates of $13.55 million. Exagen had a negative net margin of 30.36% and a negative return on equity of 92.58%. During the same period in the previous year, the business earned ($0.31) EPS.

Other equities research analysts have also recently issued research reports about the company. William Blair restated an "outperform" rating on shares of Exagen in a report on Wednesday, November 13th. Canaccord Genuity Group increased their price objective on Exagen from $5.00 to $7.00 and gave the stock a "buy" rating in a research report on Friday, January 3rd.

Exagen Stock Down 2.4 %

XGN traded down $0.10 on Thursday, hitting $3.95. 111,199 shares of the company were exchanged, compared to its average volume of 237,835. The stock's fifty day moving average is $4.15 and its 200-day moving average is $3.19. Exagen has a 12 month low of $1.30 and a 12 month high of $6.22. The company has a debt-to-equity ratio of 1.54, a quick ratio of 4.05 and a current ratio of 4.05. The company has a market cap of $69.59 million, a PE ratio of -4.20 and a beta of 1.42.

Insider Activity at Exagen

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

Hedge Funds Weigh In On Exagen

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Verus Capital Partners LLC acquired a new position in shares of Exagen in the 3rd quarter worth approximately $39,000. Creative Planning acquired a new position in Exagen in the third quarter valued at $110,000. Palumbo Wealth Management LLC boosted its position in Exagen by 14.5% during the third quarter. Palumbo Wealth Management LLC now owns 76,364 shares of the company's stock valued at $236,000 after acquiring an additional 9,695 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Exagen by 93.3% during the 2nd quarter. Renaissance Technologies LLC now owns 94,234 shares of the company's stock worth $172,000 after acquiring an additional 45,476 shares during the period. Finally, Stonepine Capital Management LLC raised its position in shares of Exagen by 49.0% in the 3rd quarter. Stonepine Capital Management LLC now owns 534,398 shares of the company's stock worth $1,651,000 after acquiring an additional 175,701 shares in the last quarter. 75.25% of the stock is currently owned by institutional investors and hedge funds.

About Exagen

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).