Xencor (NASDAQ:XNCR) Announces Quarterly Earnings Results

Xencor (NASDAQ:XNCR) posted its earnings results on Monday. The biopharmaceutical company reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.25), Briefing.com reports. The firm had revenue of $16.96 million for the quarter, compared to analyst estimates of $21.13 million. Xencor had a negative return on equity of 20.29% and a negative net margin of 82.23%. The company’s revenue for the quarter was down 62.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.37) earnings per share.

Xencor Stock Performance

XNCR traded down $2.15 during trading hours on Wednesday, hitting $15.70. 1,072,853 shares of the stock were exchanged, compared to its average volume of 639,903. The stock has a market cap of $968.06 million, a price-to-earnings ratio of -7.21 and a beta of 0.69. The stock has a 50-day simple moving average of $20.25 and a 200-day simple moving average of $21.24. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.08 and a quick ratio of 7.08. Xencor has a 12 month low of $15.31 and a 12 month high of $26.84.

Insider Buying and Selling at Xencor

In other news, VP John R. Desjarlais sold 36,329 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $18.32, for a total value of $665,547.28. Following the transaction, the vice president now directly owns 192,319 shares in the company, valued at approximately $3,523,284.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 price objective on shares of Xencor in a report on Tuesday. JPMorgan Chase & Co. reduced their price target on Xencor from $30.00 to $27.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. BTIG Research cut their target price on Xencor from $56.00 to $38.00 and set a “buy” rating on the stock in a research report on Tuesday, April 16th. Wedbush reiterated an “outperform” rating and set a $34.00 target price (down from $36.00) on shares of Xencor in a research note on Thursday, June 13th. Finally, Raymond James dropped their price target on shares of Xencor from $58.00 to $40.00 and set a “strong-buy” rating for the company in a research note on Friday, June 14th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.44.

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.