FY2024 EPS Estimates for Exagen Raised by Cantor Fitzgerald

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

Exagen (NASDAQ:XGN) last posted its earnings results on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.02. Exagen had a negative net margin of 30.36% and a negative return on equity of 92.58%. The firm had revenue of $12.51 million for the quarter, compared to analysts’ expectations of $13.55 million. During the same quarter in the previous year, the firm posted ($0.31) earnings per share.

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

Exagen Stock Performance

Shares of Exagen stock opened at $2.98 on Monday. The stock has a market cap of $52.57 million, a price-to-earnings ratio of -3.17 and a beta of 1.35. The company has a quick ratio of 4.32, a current ratio of 4.05 and a debt-to-equity ratio of 1.54. Exagen has a twelve month low of $1.30 and a twelve month high of $3.71. The company’s fifty day moving average is $2.82 and its 200 day moving average is $2.40.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. 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 worth $1,651,000 after acquiring an additional 175,701 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of 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 acquiring an additional 45,476 shares in the last quarter. Creative Planning purchased a new position in Exagen during the third quarter worth about $110,000. Verus Capital Partners LLC purchased a new stake in Exagen in the 3rd quarter valued at about $39,000. Finally, Palumbo Wealth Management LLC boosted its stake 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 buying an additional 9,695 shares during the last quarter. Institutional investors own 75.25% of the company’s stock.

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).