Q2 2023 EPS Estimates for Exagen Inc. Boosted by KeyCorp (NASDAQ:XGN)

Exagen Inc. (NASDAQ:XGN – Get Rating) – KeyCorp upped their Q2 2023 EPS estimates for Exagen in a report released on Tuesday, May 16th. KeyCorp analyst P. Knight now forecasts that the company will earn ($0.47) per share for the quarter, up from their prior forecast of ($0.50). The consensus estimate for Exagen’s current full-year earnings is ($1.91) per share. KeyCorp also issued estimates for Exagen’s Q3 2023 earnings at ($0.43) EPS, Q4 2023 earnings at ($0.42) EPS, FY2023 earnings at ($1.75) EPS, FY2024 earnings at ($1.35) EPS and FY2025 earnings at ($0.90) EPS.

Exagen (NASDAQ:XGN – Get Rating) last announced its quarterly earnings results on Monday, March 20th. The company reported ($0.58) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.13. The firm had revenue of $12.84 million for the quarter, compared to the consensus estimate of $8.63 million. Exagen had a negative net margin of 90.98% and a negative return on equity of 79.22%.

Separately, BTIG Research decreased their target price on shares of Exagen from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Wednesday, March 22nd.

Exagen Trading Down 1.0 %

Shares of XGN stock opened at $3.12 on Friday. The company has a 50-day moving average of $2.55 and a two-hundred day moving average of $2.60. The firm has a market cap of $52.57 million, a PE ratio of -1.24 and a beta of 1.26. Exagen has a 1-year low of $2.04 and a 1-year high of $8.96. The company has a debt-to-equity ratio of 0.81, a current ratio of 7.09 and a quick ratio of 7.55.

Institutional Investors Weigh In On Exagen

Several large investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. raised its stake in shares of Exagen by 7.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 25,731 shares of the company’s stock worth $207,000 after purchasing an additional 1,839 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Exagen by 50.1% during the first quarter. Dimensional Fund Advisors LP now owns 72,051 shares of the company’s stock worth $579,000 after acquiring an additional 24,038 shares during the last quarter. State Street Corp lifted its stake in shares of Exagen by 3.6% during the first quarter. State Street Corp now owns 132,023 shares of the company’s stock valued at $1,060,000 after acquiring an additional 4,579 shares during the period. Brinker Capital Investments LLC lifted its stake in shares of Exagen by 30.6% during the first quarter. Brinker Capital Investments LLC now owns 93,218 shares of the company’s stock valued at $749,000 after acquiring an additional 21,825 shares during the period. Finally, Millennium Management LLC acquired a new position in Exagen in the second quarter valued at about $457,000. 53.90% of the stock is owned by institutional investors and hedge funds.

Exagen Company Profile

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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 care for patients through the diagnosis, prognosis, and monitoring of autoimmune and autoimmune-related diseases, including systemic lupus erythematosus (SLE) and rheumatoid arthritis (RA).