FY2024 EPS Estimates for Exagen Lifted by Cantor Fitzgerald

Exagen Inc. (NASDAQ:XGN) – Analysts at Cantor Fitzgerald raised their FY2024 earnings estimates for Exagen in a research report issued to clients and investors on Wednesday, November 13th. Cantor Fitzgerald analyst R. Osborn now expects that the company will post earnings per share of ($0.85) for the year, up from their prior forecast of ($1.11). The consensus estimate for Exagen’s current full-year earnings is ($0.87) per share.

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

Exagen Stock Performance

Shares of Exagen stock opened at $3.53 on Monday. The company’s 50 day moving average price is $2.83 and its two-hundred day moving average price is $2.43. The firm has a market capitalization of $62.26 million, a P/E ratio of -3.76 and a beta of 1.35. The company has a debt-to-equity ratio of 1.54, a current ratio of 4.05 and a quick ratio of 4.05. Exagen has a fifty-two week low of $1.30 and a fifty-two week high of $3.71.

Exagen (NASDAQ:XGN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.02. The company had revenue of $12.51 million for the quarter, compared to the consensus estimate 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 last year, the company posted ($0.31) EPS.

Insiders Place Their Bets

In related news, CEO John Aballi acquired 24,305 shares of the stock in a transaction dated Thursday, November 14th. The stock was bought at an average price of $2.81 per share, for a total transaction 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. The trade was a 3.65 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 the company. Verus Capital Partners LLC acquired a new position in shares of Exagen during the third quarter valued at about $39,000. Creative Planning acquired a new position in Exagen during the 3rd quarter valued at about $110,000. Renaissance Technologies LLC increased 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 purchasing an additional 45,476 shares in the last quarter. Palumbo Wealth Management LLC raised its stake in shares of 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 last quarter. Finally, Stonepine Capital Management LLC raised its stake in shares of Exagen by 49.0% in the third 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 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).