FY2024 EPS Estimates for Exagen Lifted by Cantor Fitzgerald

Exagen Inc. (NASDAQ:XGN) – Stock analysts at Cantor Fitzgerald increased their FY2024 EPS estimates for Exagen in a research note issued to investors on Monday, March 10th. Cantor Fitzgerald analyst R. Osborn now forecasts that the company will post earnings of ($0.84) per share for the year, up from their prior forecast of ($0.86). Cantor Fitzgerald has a “Overweight” rating and a $8.00 price objective 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 ($0.41) EPS.

Other research analysts have also issued reports about the company. William Blair reiterated an “outperform” rating on shares of Exagen in a research report on Wednesday. Canaccord Genuity Group upped their price target on 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 0.6 %

Shares of NASDAQ XGN opened at $3.35 on Wednesday. The company has a market capitalization of $59.08 million, a P/E ratio of -3.56 and a beta of 1.40. 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 company has a 50 day simple moving average of $3.78 and a 200-day simple moving average of $3.57. Exagen has a 1 year low of $1.30 and a 1 year high of $6.22.

Hedge Funds Weigh In On Exagen

Several large investors have recently made changes to their positions in XGN. Creative Planning acquired a new stake in Exagen in the 3rd quarter valued at approximately $110,000. Palumbo Wealth Management LLC boosted its position in shares of Exagen by 13.5% during the fourth quarter. Palumbo Wealth Management LLC now owns 86,704 shares of the company’s stock worth $355,000 after buying an additional 10,340 shares during the period. Verus Capital Partners LLC acquired a new stake in shares of Exagen in the third quarter valued at $39,000. Stonepine Capital Management LLC raised its holdings 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 valued at $1,651,000 after buying an additional 175,701 shares during the period. Finally, Northern Trust Corp lifted its stake in Exagen by 16.7% during the 4th quarter. Northern Trust Corp now owns 18,375 shares of the company’s stock worth $75,000 after acquiring an additional 2,630 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).