Wedbush Reaffirms Outperform Rating for Xencor (NASDAQ:XNCR)

Wedbush reissued their outperform rating on shares of Xencor (NASDAQ:XNCR) in a report issued on Thursday morning, RTT News reports. Wedbush currently has a $34.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $36.00.

Several other brokerages have also recently issued reports on XNCR. Piper Sandler reaffirmed a neutral rating and issued a $24.00 target price (down from $37.00) on shares of Xencor in a report on Wednesday, February 28th. BTIG Research dropped their price target on Xencor from $56.00 to $38.00 and set a buy rating for the company in a research report on Tuesday, April 16th. Royal Bank of Canada reiterated an outperform rating and issued a $32.00 price target on shares of Xencor in a research report on Wednesday, February 28th. StockNews.com upgraded Xencor from a sell rating to a hold rating in a research report on Saturday, March 9th. Finally, BMO Capital Markets dropped their price target on Xencor from $38.00 to $34.00 and set an outperform rating for the company in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $35.38.

Xencor Price Performance

NASDAQ:XNCR opened at $20.58 on Thursday. The company has a quick ratio of 7.08, a current ratio of 7.08 and a debt-to-equity ratio of 0.02. The business’s 50-day simple moving average is $21.88 and its two-hundred day simple moving average is $21.50. The stock has a market cap of $1.27 billion, a PE ratio of -9.40 and a beta of 0.82. Xencor has a 52 week low of $16.49 and a 52 week high of $26.84.

Xencor (NASDAQ:XNCR) last issued its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.28). Xencor had a negative return on equity of 20.29% and a negative net margin of 82.23%. The firm had revenue of $12.80 million during the quarter, compared to the consensus estimate of $23.07 million. During the same period last year, the firm posted ($1.02) earnings per share. The company’s revenue for the quarter was down 32.3% compared to the same quarter last year. As a group, analysts forecast that Xencor will post -3.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. CWM LLC grew its stake in Xencor by 498.7% in the fourth quarter. CWM LLC now owns 1,377 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 1,147 shares in the last quarter. Parallel Advisors LLC grew its stake in Xencor by 303.9% in the fourth quarter. Parallel Advisors LLC now owns 1,349 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 1,015 shares in the last quarter. Signaturefd LLC grew its stake in Xencor by 367.7% in the fourth quarter. Signaturefd LLC now owns 1,464 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 1,151 shares in the last quarter. GAMMA Investing LLC grew its stake in Xencor by 153.7% in the first quarter. GAMMA Investing LLC now owns 2,172 shares of the biopharmaceutical company’s stock worth $48,000 after purchasing an additional 1,316 shares in the last quarter. Finally, Allworth Financial LP grew its stake in Xencor by 29,487.5% in the fourth quarter. Allworth Financial LP now owns 2,367 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 2,359 shares in the last quarter.

About Xencor

Xencor, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of engineered monoclonal antibody and cytokine therapeutics to treat patients with cancer and autoimmune diseases. The company provides Sotrovimab that targets the SARS-CoV-2 virus; Ultomiris for the treatment of patients with paroxysmal nocturnal hemoglobinuria and atypical hemolytic uremic syndrome; and Monjuvi for the treatment of patients with relapsed or refractory diffuse large B-cell lymphoma.