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

Exagen (NASDAQ:XGN) announced its earnings results on Tuesday. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.07), FiscalAI reports. Exagen had a negative net margin of 26.61% and a negative return on equity of 104.46%. The business had revenue of $18.42 million for the quarter, compared to the consensus estimate of $18.34 million.

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

XGN traded down $2.27 during trading on Tuesday, reaching $4.83. The stock had a trading volume of 843,284 shares, compared to its average volume of 390,911. The stock has a 50 day moving average of $7.92 and a two-hundred day moving average of $5.13. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $116.93 million, a price-to-earnings ratio of -5.82 and a beta of 2.25. Exagen has a 1-year low of $2.59 and a 1-year high of $9.73.

Insider Buying and Selling at Exagen

In other news, major shareholder Jorey Chernett acquired 14,000 shares of the business’s stock in a transaction dated Monday, October 19th. The stock was acquired at an average price of $7.46 per share, for a total transaction of $104,440.00. Following the completion of the acquisition, the insider directly owned 2,618,540 shares in the company, valued at $19,534,308.40. This represents a 0.54% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO John Aballi sold 34,294 shares of the firm’s stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $7.87, for a total value of $269,893.78. Following the transaction, the chief executive officer directly owned 805,540 shares of the company’s stock, valued at $6,339,599.80. This represents a 4.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 10.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

Exagen Company Profile

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.