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

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

Exagen Stock Performance

Shares of XGN stock opened at $2.40 on Wednesday. The business has a 50-day moving average price of $1.96 and a two-hundred day moving average price of $1.83. Exagen has a 12-month low of $1.30 and a 12-month high of $2.95. The company has a quick ratio of 4.83, a current ratio of 4.83 and a debt-to-equity ratio of 0.96. The firm has a market cap of $41.70 million, a P/E ratio of -2.20 and a beta of 1.28.

Analysts Set New Price Targets

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

Insider Buying and Selling at Exagen

In other news, CEO John Aballi bought 40,401 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were bought at an average cost of $1.92 per share, with a total value of $77,569.92. Following the completion of the purchase, the chief executive officer now directly owns 40,401 shares in the company, valued at $77,569.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 26.10% 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).