Exagen Inc. (XGN - Free Report) shares rallied 6.8% in the last trading session to close at $20.88. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 16.5% gain over the past four weeks.
This marks the third consecutive trading day of Exagen’s price increase driven by the optimism around its AVISE suite of testing solutions, which exhibited an earlier-than-expected recovery. The rebound came courtesy of the serious nature of autoimmune disorders, and the sophistication offered to patients and healthcare providers through the AVISE test offerings. In fact, despite the pandemic scenario, the estimates are showing sales recovery for the fourth quarter 2020 (slated to release on Mar 16) with the Zacks Consensus Estimate of $10.4 billion indicating growth of 1.8% year over year. Market is also upbeat about the company commencing 2021 with a partnership with Boston’s Tufts Medical Center to offer AVISE testing in an effort to aid patients suffering from autoimmune diseases with a more accurate testing option, while expanding access to testing at the same time.
Price and Consensus
This company is expected to post quarterly loss of $0.42 per share in its upcoming report, which represents a year-over-year change of -55.6%. Revenues are expected to be $10.39 million, up 1.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Exagen Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on XGN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Exagen Inc. (XGN - Free Report) shares rallied 6.8% in the last trading session to close at $20.88. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 16.5% gain over the past four weeks.
This marks the third consecutive trading day of Exagen’s price increase driven by the optimism around its AVISE suite of testing solutions, which exhibited an earlier-than-expected recovery. The rebound came courtesy of the serious nature of autoimmune disorders, and the sophistication offered to patients and healthcare providers through the AVISE test offerings. In fact, despite the pandemic scenario, the estimates are showing sales recovery for the fourth quarter 2020 (slated to release on Mar 16) with the Zacks Consensus Estimate of $10.4 billion indicating growth of 1.8% year over year. Market is also upbeat about the company commencing 2021 with a partnership with Boston’s Tufts Medical Center to offer AVISE testing in an effort to aid patients suffering from autoimmune diseases with a more accurate testing option, while expanding access to testing at the same time.
Price and Consensus
This company is expected to post quarterly loss of $0.42 per share in its upcoming report, which represents a year-over-year change of -55.6%. Revenues are expected to be $10.39 million, up 1.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Exagen Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on XGN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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