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Investing.com - Cantor Fitzgerald raised its price target on Exagen (NASDAQ:XGN), a company with a market capitalization of $186 million, to $10.00 from $7.00 on Wednesday, while maintaining an Overweight rating on the stock. According to InvestingPro, the stock is currently trading near its 52-week high of $8.80.
The price target increase follows Exagen’s strong second-quarter 2025 operating results, which showed revenue of $17.2 million, exceeding both Cantor Fitzgerald’s estimate of $16.4 million and the FactSet consensus of $16.3 million. This represents year-over-year growth of 11%, with the company maintaining a healthy gross profit margin of 59.3%.
The company’s performance was driven by its AVISE CTD product, which achieved a trailing 12-month average selling price of $428, up approximately 7% year-over-year. Exagen also grew AVISE CTD test volume by approximately 14% quarter-over-quarter and 7% year-over-year.
Exagen has updated its fiscal year 2025 revenue guidance to a range of $65 million to $70 million, compared to its previous guidance of at least $65 million. The new guidance represents year-over-year growth of approximately 17% to 26%.
Exagen shares traded up approximately 14.3% on Tuesday, compared to the S&P 500 which was down about 0.9% at market close.
In other recent news, Exagen Inc . reported its second-quarter 2025 earnings, with revenue reaching $17.2 million, surpassing expectations and marking the highest quarterly revenue in the company’s history. However, the company’s earnings per share (EPS) reported a loss of $0.21, falling short of the anticipated $0.15 loss. This mixed financial performance did not deter investor enthusiasm, as the revenue growth and future outlook were positively received. Additionally, KeyBanc upgraded Exagen’s stock rating from Sector Weight to Overweight, establishing a price target of $12.00. The upgrade was attributed to improved visibility on revenue growth, with KeyBanc noting that Exagen’s revenue guidance suggests growth of 17-25% in 2025. These recent developments highlight a period of significant activity for Exagen, drawing attention from investors and analysts alike.
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