Exagen (NASDAQ:XGN) Posts Earnings Results, Beats Estimates By $0.20 EPS

Exagen (NASDAQ:XGN) announced its quarterly earnings results on Monday. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.20, Zacks reports. Exagen had a negative net margin of 34.74% and a negative return on equity of 75.86%. The company had revenue of $15.06 million for the quarter, compared to the consensus estimate of $13.20 million. During the same period in the previous year, the firm posted ($0.28) EPS. Exagen updated its FY 2024 guidance to EPS.

Exagen Stock Performance

Shares of XGN stock traded up $0.13 during trading hours on Wednesday, hitting $2.53. The stock had a trading volume of 51,044 shares, compared to its average volume of 41,426. The firm has a market capitalization of $43.95 million, a PE ratio of -2.36 and a beta of 1.28. The stock’s 50 day moving average is $1.96 and its 200 day moving average is $1.83. Exagen has a twelve month low of $1.30 and a twelve month high of $2.90. The company has a debt-to-equity ratio of 0.96, a current ratio of 4.83 and a quick ratio of 4.83.

Analyst Ratings Changes

Separately, Cantor Fitzgerald raised their price target on shares of Exagen from $5.00 to $7.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 14th.

Insider Activity

In related news, CEO John Aballi purchased 40,401 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was purchased at an average price of $1.92 per share, with a total value of $77,569.92. Following the completion of the transaction, the chief executive officer now owns 40,401 shares of the company’s stock, valued at approximately $77,569.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 26.10% 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).