Cantor Fitzgerald Decreases Earnings Estimates for Exagen

Exagen Inc. (NASDAQ:XGN) – Equities research analysts at Cantor Fitzgerald decreased their FY2024 earnings estimates for shares of Exagen in a research note issued on Tuesday, January 21st. Cantor Fitzgerald analyst R. Osborn now forecasts that the company will post earnings per share of ($0.86) for the year, down from their prior forecast of ($0.85). 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 ($0.87) per share. Cantor Fitzgerald also issued estimates for Exagen’s FY2025 earnings at ($0.45) EPS.

Exagen (NASDAQ:XGN) last announced 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 during the quarter, compared to analysts’ expectations of $13.55 million. During the same period in the prior year, the company earned ($0.31) earnings per share.

A number of other brokerages have also recently commented on XGN. William Blair reissued an “outperform” rating on shares of Exagen in a research note on Wednesday, November 13th. Canaccord Genuity Group lifted their price target on Exagen from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd.

Exagen Trading Down 1.2 %

Shares of XGN opened at $3.99 on Thursday. Exagen has a 1 year low of $1.30 and a 1 year high of $6.22. The company has a 50 day simple moving average of $4.15 and a two-hundred day simple moving average of $3.19. 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 cap of $70.38 million, a P/E ratio of -4.24 and a beta of 1.42.

Insider Buying and Selling

In other Exagen news, major shareholder Nmsic Co-Investment Fund, L.P. sold 200,000 shares of Exagen 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 directly owns 2,108,958 shares of the company’s stock, valued at $6,959,561.40. The trade was a 8.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Aballi bought 24,305 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were acquired at an average cost of $2.81 per share, with a total value of $68,297.05. Following the purchase, the chief executive officer now owns 689,799 shares of the company’s stock, valued at $1,938,335.19. The trade was a 3.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 26.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Exagen

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Palumbo Wealth Management LLC grew its position in Exagen by 14.5% during the third 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 during the 3rd quarter valued at $39,000. Creative Planning acquired a new position in shares of Exagen in the 3rd quarter valued at about $110,000. Renaissance Technologies LLC grew its stake in Exagen by 93.3% during the second 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. Finally, Stonepine Capital Management LLC boosted its holdings in 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 period. 75.25% of the stock is currently owned by institutional investors and hedge funds.

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).