Exagen (NASDAQ:XGN) Releases Earnings Results, Beats Expectations By $0.07 EPS

Exagen (NASDAQ:XGN) issued its earnings results on Monday. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.07, FiscalAI reports. Exagen had a negative return on equity of 88.82% and a negative net margin of 29.49%.The company had revenue of $17.31 million during the quarter, compared to analysts’ expectations of $16.41 million.

Here are the key takeaways from Exagen’s conference call:

• Company reported a record first-quarter revenue of $17.3 million (up 12% YoY) with AVISE CTD test volume up 10% and ordering clinicians up 15%, indicating expanding market adoption.
• Trailing-12-month ASP rose 6% to $444, driven by improved revenue-cycle execution including ~$900k in prior-period collections and marking the 12th consecutive quarter of ASP gains.
• Profitability metrics improved—adjusted EBITDA loss narrowed to $2.2 million (14% improvement) and gross margin was 59% with a stated objective to reach the mid-60s over time.
• Management reaffirmed full-year 2026 revenue guidance of $70M–$73M and reported a strong start to Q2, while noting first-quarter cash and restricted cash of just under $22M and seasonal AR/cash flow timing that should normalize in H2.
• Product pipeline and commercialization progress remain on track—a standalone myositis test is targeted for early 2027, scientific visibility increased (nine abstracts and two manuscripts accepted), and Pharma Services backlog exceeds $5M, creating potential longer-term revenue upside.

Exagen Stock Down 6.8%

XGN stock opened at $3.71 on Wednesday. Exagen has a fifty-two week low of $2.59 and a fifty-two week high of $12.23. The company has a market capitalization of $89.56 million, a price-to-earnings ratio of -4.17 and a beta of 1.81. The business’s 50 day moving average price is $3.05 and its two-hundred day moving average price is $5.28. The company has a debt-to-equity ratio of 1.39, a quick ratio of 3.45 and a current ratio of 3.45.

Insider Activity at Exagen

In related news, CEO John Aballi sold 15,698 shares of Exagen stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $3.62, for a total transaction of $56,826.76. Following the sale, the chief executive officer directly owned 687,299 shares in the company, valued at $2,488,022.38. The trade was a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Exagen

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new stake in shares of Exagen in the 1st quarter worth about $25,000. Truvestments Capital LLC lifted its position in Exagen by 109.5% during the 4th quarter. Truvestments Capital LLC now owns 6,169 shares of the company’s stock valued at $38,000 after acquiring an additional 3,225 shares during the period. Persistent Asset Partners Ltd purchased a new position in Exagen during the 4th quarter valued at about $80,000. Jain Global LLC bought a new stake in Exagen during the fourth quarter worth about $82,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Exagen during the fourth quarter worth about $82,000. Hedge funds and other institutional investors own 75.25% of the company’s stock.

Analyst Upgrades and Downgrades

XGN has been the subject of several recent research reports. TD Cowen lowered their price objective on Exagen from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Craig Hallum cut their target price on shares of Exagen from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. KeyCorp decreased their target price on shares of Exagen from $15.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 11th. Wall Street Zen raised shares of Exagen from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, BTIG Research cut their price target on shares of Exagen from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.25.

About Exagen

Exagen Inc is a molecular diagnostics company focused on improving the detection and management of autoimmune diseases. Headquartered in the United States, the company develops, manufactures and markets laboratory tests designed to help clinicians address diagnostic challenges associated with complex connective tissue disorders.

The company’s flagship product portfolio, marketed under the Avise® brand, includes multi-analyte assays such as the Avise® Connective Tissue Disease (CTD) panel, Avise® Lupus panel and Avise® Sjögren’s panel.