Still betting on Nvidia? Our AI picked this stock instead; it’s up 96%+ THIS MONTH
On Thursday, Cantor Fitzgerald analyst Ross Osborn adjusted the price target for Exagen (NASDAQ:XGN) shares, lowering it to $7.00 from the previous $8.00, while reaffirming an Overweight rating on the stock. This move follows Exagen’s recent announcement of its first quarter 2025 financial results and the closing of an equity raise on May 9, 2025. According to InvestingPro data, the stock has shown remarkable momentum, delivering a 204% return over the past year and currently trades near its 52-week high of $7.20.
Exagen reported first-quarter revenue of $15.5 million, surpassing both Cantor Fitzgerald’s estimate of $14.5 million and the FactSet consensus of $14.6 million. This marked a year-over-year increase of approximately 8%. The revenue growth was primarily attributed to the performance of AVISE CTD, Exagen’s test that saw an 11% year-over-year increase in its average selling price to $419. The test volume for the quarter was approximately 31,575, a 4% increase from the same quarter in the previous year and a 6% sequential rise from the last quarter. With a current market capitalization of $127.2 million, the company maintains a healthy balance sheet with a current ratio of 2.32, indicating strong liquidity to support its growth initiatives.
In addition to the first-quarter results, Exagen has provided guidance for the full fiscal year 2025, projecting revenues of at least $65.0 million. This figure is slightly above the FactSet consensus of $64.3 million and represents an anticipated year-over-year growth of at least 17%. Cantor Fitzgerald’s own forecast was slightly higher at $66.1 million. InvestingPro analysis reveals that while the company currently operates at a loss, it maintains a moderate debt level and strong liquidity position, with liquid assets exceeding short-term obligations.
Osborn expressed optimism about Exagen’s prospects for the year 2025, highlighting the company’s introduction of new markers intended to enhance sensitivity. These advancements are expected to drive further adoption of Exagen’s offerings and contribute to an increase in the average selling price. The analyst pointed to the combination of Exagen’s superior product portfolio, the potential for profitability, and a strengthened balance sheet as reasons to anticipate a pivotal year ahead for the company. For deeper insights into Exagen’s financial health and growth prospects, investors can access the comprehensive Pro Research Report available exclusively on InvestingPro, which includes detailed analysis of the company’s competitive position and growth drivers.
In other recent news, Exagen Inc . reported a record revenue of $15.5 million for the first quarter of 2025, surpassing forecasts by approximately 5.7% and marking an 8% year-over-year increase. The company also announced the pricing of a public stock offering at $5.25 per share, expected to generate gross proceeds of about $17.59 million. KeyBanc Capital Markets maintained its Sector Weight rating on Exagen following these financial results, noting that the company’s earnings per share met expectations and that Exagen initiated full-year 2025 guidance above consensus. Exagen has also embarked on a commercial expansion, identifying new sales territories and enhancing its AVISE test offerings, contributing to the financial performance. Additionally, the company has made strides in its reimbursement efforts and has refinanced its debt, extending the maturity to 2030 and increasing borrowing capacity. Analysts from KeyBanc highlighted Exagen’s expectation to achieve positive adjusted EBITDA by the fourth quarter of 2025. The company continues to focus on launching new seronegative rheumatoid arthritis markers and developing diagnostics for kidney disease and lupus nephritis.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.