Zacks: Brokerages Anticipate Exagen Inc. (NASDAQ:XGN) Will Post Quarterly Sales of $10.24 Million


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Wall Street analysts forecast that Exagen Inc. (NASDAQ:XGN) will report $10.24 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Exagen’s earnings. The highest sales estimate is $10.50 million and the lowest is $9.92 million. Exagen reported sales of $9.58 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.9%. The firm is scheduled to report its next earnings results after the market closes on Tuesday, May 11th.

According to Zacks, analysts expect that Exagen will report full year sales of $48.32 million for the current year, with estimates ranging from $47.90 million to $48.60 million. For the next fiscal year, analysts anticipate that the business will report sales of $60.59 million, with estimates ranging from $59.67 million to $61.50 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Exagen.

Exagen (NASDAQ:XGN) last posted its quarterly earnings results on Monday, March 15th. The company reported ($0.27) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.13. The business had revenue of $12.67 million during the quarter, compared to the consensus estimate of $10.89 million. Exagen had a negative net margin of 39.49% and a negative return on equity of 29.10%.

A number of equities analysts recently commented on XGN shares. Cowen boosted their target price on shares of Exagen from $21.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 17th. Zacks Investment Research downgraded shares of Exagen from a “hold” rating to a “sell” rating in a research note on Saturday, March 20th. KeyCorp upped their price objective on shares of Exagen from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday, March 8th. TheStreet cut shares of Exagen from a “c-” rating to a “d” rating in a report on Tuesday, March 23rd. Finally, Canaccord Genuity started coverage on shares of Exagen in a report on Wednesday, April 21st. They issued a “buy” rating and a $25.00 target price for the company. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Exagen presently has a consensus rating of “Buy” and an average price target of $22.67.

Shares of XGN stock traded down $1.63 on Tuesday, reaching $15.85. 56,888 shares of the stock were exchanged, compared to its average volume of 63,158. The company has a current ratio of 12.77, a quick ratio of 12.77 and a debt-to-equity ratio of 0.55. The business’s 50 day moving average price is $17.41 and its 200 day moving average price is $15.82. The company has a market capitalization of $200.82 million and a price-to-earnings ratio of -1.29. Exagen has a twelve month low of $10.29 and a twelve month high of $24.67.

In related news, Director James L. L Tullis sold 3,000 shares of the stock in a transaction dated Friday, February 5th. The shares were sold at an average price of $17.00, for a total transaction of $51,000.00. Following the completion of the transaction, the director now directly owns 21,348 shares of the company’s stock, valued at $362,916. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 48.90% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Cowen AND Company LLC grew its position in shares of Exagen by 42.7% in the first quarter. Cowen AND Company LLC now owns 451,821 shares of the company’s stock valued at $7,907,000 after purchasing an additional 135,271 shares during the last quarter. Calamos Advisors LLC acquired a new stake in shares of Exagen in the first quarter valued at approximately $1,871,000. Perkins Capital Management Inc. grew its position in shares of Exagen by 53.8% in the first quarter. Perkins Capital Management Inc. now owns 203,530 shares of the company’s stock valued at $3,562,000 after purchasing an additional 71,175 shares during the last quarter. BlackRock Inc. grew its position in shares of Exagen by 17.4% in the fourth quarter. BlackRock Inc. now owns 261,362 shares of the company’s stock valued at $3,450,000 after purchasing an additional 38,728 shares during the last quarter. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of Exagen in the first quarter valued at approximately $518,000. 29.21% of the stock is owned by institutional investors.

Exagen Company Profile

Exagen Inc develops and commercializes various testing products based on its Cell-Bound Complement Activation Products technology under the AVISE brand in the United States. It enables rheumatologists to enhance care for patients through the diagnosis, prognosis, and monitoring of complex autoimmune and autoimmune related diseases, including systemic lupus erythematosus (SLE) and rheumatoid arthritis (RA).

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