FY2024 EPS Estimates for Exagen Cut by Cantor Fitzgerald

Exagen Inc. (NASDAQ:XGN) – Equities researchers at Cantor Fitzgerald cut their FY2024 earnings per share estimates for Exagen in a research note issued to investors on Tuesday, January 21st. Cantor Fitzgerald analyst R. Osborn now anticipates that the company will post earnings per share of ($0.86) for the year, down from their previous 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 ($0.87) per share. Cantor Fitzgerald also issued estimates for Exagen’s FY2025 earnings at ($0.45) EPS.

A number of other research analysts also recently issued reports on the company. William Blair reiterated an “outperform” rating on shares of Exagen in a report on Wednesday, November 13th. Canaccord Genuity Group lifted their target price 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 Performance

Shares of XGN stock opened at $4.04 on Thursday. The company’s 50 day moving average is $4.15 and its 200 day moving average is $3.19. The company has a quick ratio of 4.05, a current ratio of 4.05 and a debt-to-equity ratio of 1.54. The firm has a market cap of $71.27 million, a price-to-earnings ratio of -4.30 and a beta of 1.42. Exagen has a 52-week low of $1.30 and a 52-week high of $6.22.

Exagen (NASDAQ:XGN) last posted its earnings results on Tuesday, November 12th. The company reported ($0.28) EPS for the quarter, beating 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 business had revenue of $12.51 million for the quarter, compared to the consensus estimate of $13.55 million. During the same quarter last year, the firm posted ($0.31) EPS.

Insider Buying and Selling at Exagen

In other Exagen news, CEO John Aballi purchased 24,305 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were acquired at an average price of $2.81 per share, for a total transaction of $68,297.05. Following the completion of the purchase, the chief executive officer now owns 689,799 shares of the company’s stock, valued at approximately $1,938,335.19. The trade was a 3.65 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Nmsic Co-Investment Fund, L.P. sold 200,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $3.30, for a total transaction of $660,000.00. Following the transaction, the insider now owns 2,108,958 shares in the company, valued at approximately $6,959,561.40. This trade represents a 8.66 % decrease in their position. The disclosure for this sale can be found here. 26.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Exagen

Institutional investors and hedge funds have recently made changes to their positions in the stock. Palumbo Wealth Management LLC increased its holdings in 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 period. Verus Capital Partners LLC purchased a new stake in shares of Exagen in the 3rd quarter valued at $39,000. Creative Planning acquired a new stake in shares of Exagen in the third quarter worth $110,000. Renaissance Technologies LLC increased its stake in shares of Exagen by 93.3% in the second quarter. Renaissance Technologies LLC now owns 94,234 shares of the company’s stock worth $172,000 after acquiring an additional 45,476 shares during the period. Finally, Stonepine Capital Management LLC raised its holdings in shares of Exagen by 49.0% during 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. 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).