FY2024 EPS Estimates for Exagen Raised by Cantor Fitzgerald

Exagen Inc. (NASDAQ:XGN) – Analysts at Cantor Fitzgerald boosted their FY2024 EPS estimates for Exagen in a report released on Wednesday, November 13th. Cantor Fitzgerald analyst R. Osborn now forecasts that the company will post earnings of ($0.85) per share for the year, up from their previous estimate of ($1.11). The consensus estimate for Exagen’s current full-year earnings is ($0.87) per share.

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

Exagen Trading Up 17.7 %

Shares of Exagen stock opened at $3.53 on Monday. The firm has a market cap of $62.26 million, a PE ratio of -3.76 and a beta of 1.35. Exagen has a 1 year low of $1.30 and a 1 year high of $3.71. The company has a debt-to-equity ratio of 1.54, a current ratio of 4.05 and a quick ratio of 4.05. The stock has a fifty day moving average price of $2.83 and a 200-day moving average price of $2.43.

Exagen (NASDAQ:XGN) last released its 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 company had revenue of $12.51 million during the quarter, compared to analyst estimates of $13.55 million. Exagen had a negative return on equity of 92.58% and a negative net margin of 30.36%. During the same period in the prior year, the company posted ($0.31) earnings per share.

Insider Transactions at Exagen

In other news, CEO John Aballi acquired 24,305 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was bought at an average price of $2.81 per share, with a total value of $68,297.05. Following the acquisition, the chief executive officer now owns 689,799 shares in the company, valued at $1,938,335.19. The trade was a 3.65 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 26.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Exagen

Several institutional investors have recently added to or reduced their stakes in the business. Stonepine Capital Management LLC increased 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 in the last quarter. Renaissance Technologies LLC boosted its holdings in Exagen by 93.3% in the 2nd quarter. Renaissance Technologies LLC now owns 94,234 shares of the company’s stock worth $172,000 after buying an additional 45,476 shares during the period. Palumbo Wealth Management LLC grew its stake in Exagen by 14.5% in 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 in the last quarter. Creative Planning bought a new stake in Exagen during the 3rd quarter valued at $110,000. Finally, Verus Capital Partners LLC purchased a new stake in shares of Exagen during the third quarter worth $39,000. 75.25% of the stock is owned by hedge funds and other institutional investors.

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).