Q3 2024 Earnings Forecast for Exagen Inc. Issued By William Blair (NASDAQ:XGN)

Exagen Inc. (NASDAQ:XGN) – Investment analysts at William Blair lifted their Q3 2024 earnings per share (EPS) estimates for shares of Exagen in a research report issued to clients and investors on Monday, August 5th. William Blair analyst A. Brackmann now expects that the company will post earnings per share of ($0.30) for the quarter, up from their previous estimate of ($0.37). The consensus estimate for Exagen’s current full-year earnings is ($1.23) per share. William Blair also issued estimates for Exagen’s Q4 2024 earnings at ($0.29) EPS, FY2024 earnings at ($0.94) EPS, Q1 2025 earnings at ($0.25) EPS, Q2 2025 earnings at ($0.20) EPS, Q3 2025 earnings at ($0.17) EPS, Q4 2025 earnings at ($0.11) EPS and FY2025 earnings at ($0.74) EPS.

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

Exagen Price Performance

XGN stock opened at $3.38 on Thursday. The stock has a market cap of $58.72 million, a price-to-earnings ratio of -3.10 and a beta of 1.28. The company has a debt-to-equity ratio of 1.13, a current ratio of 4.32 and a quick ratio of 4.83. The company has a 50 day simple moving average of $2.02 and a 200 day simple moving average of $1.85. Exagen has a 1 year low of $1.30 and a 1 year high of $3.46.

Exagen (NASDAQ:XGN) last released its earnings results on Monday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.20. Exagen had a negative return on equity of 78.90% and a negative net margin of 30.56%. The firm had revenue of $15.06 million for the quarter, compared to analysts’ expectations of $13.20 million. During the same quarter in the previous year, the business posted ($0.28) earnings per share.

Institutional Investors Weigh In On Exagen

A hedge fund recently raised its stake in Exagen stock. Renaissance Technologies LLC increased its stake in Exagen Inc. (NASDAQ:XGN) by 93.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 94,234 shares of the company’s stock after acquiring an additional 45,476 shares during the quarter. Renaissance Technologies LLC owned about 0.54% of Exagen worth $172,000 at the end of the most recent reporting period. Institutional investors own 75.25% of the company’s stock.

Insider Buying and Selling at Exagen

In other Exagen news, CEO John Aballi purchased 40,401 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was purchased at an average cost of $1.92 per share, for a total transaction of $77,569.92. Following the transaction, the chief executive officer now owns 40,401 shares in the company, valued at approximately $77,569.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate 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).