Exagen Inc. (NASDAQ:XGN) stock reached a new 52-week high of $2.78, reflecting a 42.6% surge over the past month and a 38.7% gain since the start of the year.
The company has consistently exceeded earnings consensus estimates for the last four quarters, with the most recent EPS reported at -$0.16, significantly better than the consensus estimate of -$0.36.
Future projections indicate earnings of -$1.03 per share on revenues of $57.05 million for the current fiscal year, with positive growth expected to continue into the next fiscal year.
Exagen Inc. (NASDAQ:XGN) has recently marked a significant achievement by reaching a new 52-week high, with its stock price climbing to $2.78. This peak is the result of a remarkable performance over the past month, where the stock experienced a surge of 42.6%. Since the start of the year, Exagen has recorded an impressive gain of 38.7%, surpassing the growth rates of both the Zacks Medical sector, which increased by 6.6%, and the Zacks Medical – Products industry, with a rise of 5.9%. This indicates a strong momentum in Exagen’s stock, reflecting investor confidence and the company’s robust position within the medical sector.
Exagen’s outstanding stock performance is closely linked to its consistent ability to surprise the market positively with its earnings. The company has successfully met or exceeded earnings consensus estimates for the last four quarters. In its most recent earnings report, released on August 5, 2024, Exagen reported an earnings per share (EPS) of -$0.16, which was significantly better than the consensus estimate of -$0.36. This trend of positive earnings surprises has played a crucial role in bolstering investor confidence and driving the stock’s upward trajectory.
Looking into the future, Exagen is poised for continued growth. The company is expected to post earnings of -$1.03 per share on revenues of $57.05 million for the current fiscal year, which would represent a 23.13% change in EPS on an 8.57% change in revenues. For the next fiscal year, projections suggest earnings of -$0.74 per share on revenues of $64.85 million, indicating positive year-over-year changes of 27.67% and 13.67%, respectively. These projections highlight Exagen’s potential for sustained growth and profitability, making it an attractive option for investors.
Moreover, Exagen’s valuation metrics further underscore its promising future prospects. The company has been assigned a Value Score of C, with Growth and Momentum Scores of B and A, respectively, leading to a combined VGM Score of B. Additionally, Exagen currently holds a Zacks Rank of #2 (Buy), which signals favorable earnings estimate revisions from covering analysts and suggests the potential for further gains. This combination of strong growth prospects, positive earnings revisions, and attractive valuation scores makes Exagen a compelling investment opportunity in the medical sector.
