Exagen soars on upbeat first-quarter results

Exagen

16/05/2023 19:41

** Shares of medical test maker Exagen  XGN.O  rise 31.2% to
a near 6-month high of $3.82
    ** Co posts a smaller-than-expected Q1 adj. loss of 44 cents
per share compared with analysts' avg. estimate of a 56-cent
loss - Refinitiv data
    ** Q1 revenue of $11.23 mln tops estimates of $9.40 mln
    ** Co benefited from increased demand for their autoimmune
disease tests and lower expenses during the quarter
    ** XGN expects Q2 revenue between $10.7 mln and $11.2 mln
    ** Five of six analysts rate the stock "buy" or higher while
one rates "hold"; median PT $6.5 
    ** Including session gains, stock up 50.83% YTD

 (Reporting by Sruthi Narasimha Chari in Bengaluru)
 ((Sruthinarasimha.chari@thomsonreuters.com))