Cantor Fitzgerald Forecasts Reduced Earnings for Exagen

Exagen Inc. (NASDAQ:XGN) – Investment analysts at Cantor Fitzgerald decreased their FY2024 earnings per share estimates for Exagen in a research report 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 estimate 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 ($0.88) per share. Cantor Fitzgerald also issued estimates for Exagen’s FY2025 earnings at ($0.45) EPS.

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

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

Exagen Stock Up 0.3 %

XGN stock opened at $4.00 on Thursday. 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 firm has a market capitalization of $70.56 million, a P/E ratio of -4.26 and a beta of 1.42. Exagen has a 52-week low of $1.30 and a 52-week high of $6.22. The company’s 50 day simple moving average is $4.18 and its 200-day simple moving average is $3.20.

Institutional Investors Weigh In On Exagen

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

Insider Activity at Exagen

In related news, CEO John Aballi acquired 24,305 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were bought at an average price of $2.81 per share, for a total transaction 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. This trade represents a 3.65 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Nmsic Co-Investment Fund, L.P. sold 200,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $3.30, for a total value of $660,000.00. Following the transaction, the insider now owns 2,108,958 shares in the company, valued at $6,959,561.40. This represents a 8.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.10% of the stock is owned by corporate insiders.

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).