FY2024 EPS Estimates for Exagen Raised by Cantor Fitzgerald

Exagen Inc. (NASDAQ:XGN) – Stock analysts at Cantor Fitzgerald upped their FY2024 earnings estimates for shares of Exagen in a research report issued to clients and investors on Monday, March 10th. Cantor Fitzgerald analyst R. Osborn now forecasts that the company will earn ($0.84) per share for the year, up from their previous estimate of ($0.86). Cantor Fitzgerald has a “Overweight” rating and a $8.00 price target 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.

A number of other equities analysts have also recently weighed in on the company. William Blair reiterated an “outperform” rating on shares of Exagen in a report on Wednesday. Canaccord Genuity Group increased their target price on shares of Exagen from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd.

Exagen Stock Performance

NASDAQ:XGN opened at $3.33 on Wednesday. The company’s 50-day moving average is $3.77 and its two-hundred day moving average is $3.57. Exagen has a 1-year low of $1.30 and a 1-year high of $6.22. 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 $58.73 million, a price-to-earnings ratio of -3.54 and a beta of 1.40.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Creative Planning purchased a new stake in Exagen during the third quarter worth approximately $110,000. Palumbo Wealth Management LLC lifted its stake in shares of Exagen by 13.5% in the 4th quarter. Palumbo Wealth Management LLC now owns 86,704 shares of the company’s stock worth $355,000 after acquiring an additional 10,340 shares during the period. Verus Capital Partners LLC acquired a new stake in Exagen in the third quarter valued at about $39,000. Stonepine Capital Management LLC lifted 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 boosted its position in shares of 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 purchasing an additional 2,630 shares in the last quarter. Institutional investors and hedge funds own 75.25% of the company’s stock.

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).