Exagen (NASDAQ:XGN) Posts Earnings Results, Misses Expectations By $0.07 EPS

Exagen (NASDAQ:XGN) issued its quarterly earnings data on Tuesday. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.07), FiscalAI reports. The firm had revenue of $18.42 million for the quarter, compared to analyst estimates of $18.34 million. Exagen had a negative return on equity of 104.46% and a negative net margin of 26.61%.

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

• Exagen reported record third-quarter revenue of $18.4 million, up 7%, and said year-to-date revenue was up more than 11%. It reiterated full-year 2026 revenue guidance of $72 million to $75 million.
• AVISE CTD test volume rose 2% year over year in the quarter, while ordering physicians increased 5% and year-to-date volume grew 8%. Management attributed the slower quarterly growth partly to a tougher comparison and seasonal clinic schedules, and expects high-single-digit volume growth for the full year.
• Trailing 12-month ASP reached a record $451 per test, its 14th consecutive quarterly improvement. Exagen cited ongoing reimbursement and collections work as opportunities to move toward its $600–$650 target, while noting that possible PAMA changes could create a low-single-digit headwind.
• Pharma Services generated more than $900,000 in third-quarter revenue and $2.2 million year to date, up nearly 85% from last year, with a contract backlog of roughly $5.5 million.
• Exagen completed clinical and analytical validation for its 17-marker myositis test and remains on track for an early-2027 launch. It also acquired an AI-enabled workflow platform for rheumatology practices, though management said the product’s development and commercial potential are still evolving.

Exagen Price Performance

NASDAQ:XGN traded down $2.18 during trading hours on Tuesday, reaching $4.92. 717,588 shares of the company were exchanged, compared to its average volume of 390,645. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 1.96. The stock’s 50-day moving average is $7.92 and its 200-day moving average is $5.13. The firm has a market cap of $119.21 million, a PE ratio of -6.13 and a beta of 2.25. Exagen has a twelve month low of $2.59 and a twelve month high of $9.73.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. B. Riley Financial initiated coverage on shares of Exagen in a report on Friday, September 11th. They set a “buy” rating and a $12.00 price target on the stock. BTIG Research lifted their price objective on shares of Exagen from $8.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. TD Cowen lifted their price objective on shares of Exagen from $10.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, October 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Exagen in a research report on Wednesday, November 4th. Finally, Canaccord Genuity Group increased their target price on shares of Exagen from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Exagen has a consensus rating of “Moderate Buy” and a consensus price target of $10.12.

Insider Buying and Selling at Exagen

In other news, CEO John Aballi sold 34,294 shares of the business’s stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $7.87, for a total transaction of $269,893.78. Following the completion of the sale, the chief executive officer owned 805,540 shares of the company’s stock, valued at $6,339,599.80. The trade was a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder Jorey Chernett bought 14,000 shares of Exagen stock in a transaction on Monday, October 19th. The shares were purchased at an average cost of $7.46 per share, with a total value of $104,440.00. Following the acquisition, the insider directly owned 2,618,540 shares of the company’s stock, valued at approximately $19,534,308.40. The trade was a 0.54% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 10.40% of the company’s stock.

About Exagen

Exagen Inc is a commercial-stage diagnostic company focused on improving the diagnosis and management of autoimmune and rheumatic diseases. The company develops and commercializes blood tests that help physicians identify autoimmune disease, distinguish among related conditions and monitor disease activity over time.

Its principal product family is AVISE, which includes the AVISE CTD and AVISE Lupus tests, as well as monitoring and specialty tests used in the evaluation of systemic lupus erythematosus and other connective-tissue diseases.