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

11 May 2026, 12:20 by Jessica Moore · The Cerbat Gem

Exagen (NASDAQ:XGN – Get Free Report) announced its earnings results on Monday. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.07, FiscalAI reports. Exagen had a negative return on equity of 105.03% and a negative net margin of 29.97%.The firm had revenue of $17.31 million for 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 Up 24.1%

NASDAQ:XGN traded up $0.71 during trading hours on Monday, hitting $3.66. 4,702,870 shares of the stock traded hands, compared to its average volume of 433,937. The firm has a 50 day moving average price of $3.06 and a 200 day moving average price of $5.46. The company has a current ratio of 3.45, a quick ratio of 3.45 and a debt-to-equity ratio of 1.39. Exagen has a fifty-two week low of $2.59 and a fifty-two week high of $12.23. The firm has a market cap of $88.38 million, a price-to-earnings ratio of -4.06 and a beta of 1.81.

Insider Transactions at Exagen

In other Exagen news, CEO John Aballi sold 15,698 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were 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 of the company’s stock, valued at $2,488,022.38. The trade was a 2.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 12.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Corient Private Wealth LLC bought a new position in Exagen during the fourth quarter worth about $88,000. XTX Topco Ltd lifted its stake in Exagen by 248.5% during the fourth quarter. XTX Topco Ltd now owns 96,994 shares of the company’s stock worth $590,000 after purchasing an additional 69,161 shares during the period. Occudo Quantitative Strategies LP lifted its stake in Exagen by 44.8% during the fourth quarter. Occudo Quantitative Strategies LP now owns 30,214 shares of the company’s stock worth $184,000 after purchasing an additional 9,346 shares during the period. Man Group plc bought a new position in Exagen during the fourth quarter worth about $198,000. Finally, Engineers Gate Manager LP lifted its stake in Exagen by 52.9% during the fourth quarter. Engineers Gate Manager LP now owns 62,964 shares of the company’s stock worth $383,000 after purchasing an additional 21,780 shares during the period. Institutional investors and hedge funds own 75.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on XGN shares. TD Cowen dropped their price target on Exagen from $13.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. B. Riley Financial restated a “buy” rating and issued a $8.00 target price (down from $18.00) on shares of Exagen in a report on Friday, January 30th. Craig Hallum reduced their target price on Exagen from $12.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. UBS Group set a $10.00 target price on Exagen in a report on Wednesday, March 11th. Finally, Weiss Ratings raised Exagen from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, April 27th. Nine analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.38.

Read Our Latest Analysis on Exagen

Exagen Company Profile

(Get Free Report)

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.