Exagen Inc Up 11.11% To $1.80 After Earnings Beat

Exagen Inc (XGN) said before open Monday that it lost $0.31 per share in quarter four 2023.

On the revenue line, the company reported $13.8 million, beating estimates by $2.2 million.

In the same quarter a year ago, the company lost $0.83 per share on revenue of $12.8 million.

The stock is up 11.11% to $1.80 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Exagen Inc a Bearish Sentiment Rank from InvestorsObserver.

Exagen Inc has performed a little below average during the past few months. Before the report, Exagen Inc received a Long-Term Technical Rank by InvestorsObserver of 29, putting it in the bottom half of stocks. The firm set a 52-week low on October 20, 2023 at $1.33 and set a 52-week high on May 16, 2023 at $3.92.

Exagen Inc is a commercial-stage diagnostics company committed to addressing the unmet need for the accurate diagnosis and monitoring of patients affected by autoimmune rheumatic diseases. It currently markets ten testing products under its Avise brand to provide an accurate, timely, and differential diagnosis and to optimize the treatment of ARDs. It markets and sells solutions to community rheumatologists.