Xencor’s (XNCR) Outperform Rating Reaffirmed at Wedbush

Wedbush reiterated their outperform rating on shares of Xencor (NASDAQ:XNCR) in a research note released on Monday morning, RTT News reports. Wedbush currently has a $34.00 price objective on the biopharmaceutical company’s stock.

Several other analysts have also weighed in on the company. Raymond James lowered their target price on Xencor from $58.00 to $40.00 and set a strong-buy rating on the stock in a report on Friday, June 14th. JPMorgan Chase & Co. dropped their target price on shares of Xencor from $30.00 to $27.00 and set an overweight rating for the company in a report on Wednesday, July 31st. Royal Bank of Canada reaffirmed an outperform rating and issued a $31.00 price target on shares of Xencor in a report on Tuesday, August 6th. Finally, BMO Capital Markets reaffirmed an outperform rating and issued a $32.00 target price on shares of Xencor in a research note on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $34.44.

Xencor Trading Up 10.5 %

Shares of XNCR stock opened at $21.13 on Monday. The business’s fifty day moving average price is $18.21 and its 200 day moving average price is $20.58. The firm has a market capitalization of $1.30 billion, a PE ratio of -9.65 and a beta of 0.66. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.92 and a quick ratio of 6.92. Xencor has a 1-year low of $15.31 and a 1-year high of $26.84.

Xencor (NASDAQ:XNCR) last issued its earnings results on Monday, August 5th. The biopharmaceutical company reported ($1.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.25). The company had revenue of $16.96 million during the quarter, compared to analysts’ expectations of $21.13 million. Xencor had a negative net margin of 132.74% and a negative return on equity of 28.23%. The company’s quarterly revenue was down 62.7% on a year-over-year basis. During the same period last year, the business posted ($0.37) earnings per share. As a group, sell-side analysts forecast that Xencor will post -4.17 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP John R. Desjarlais sold 36,329 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $18.32, for a total value of $665,547.28. Following the sale, the vice president now directly owns 192,319 shares of the company’s stock, valued at $3,523,284.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Xencor

A number of institutional investors have recently added to or reduced their stakes in XNCR. Primecap Management Co. CA grew its holdings in shares of Xencor by 0.3% during the 2nd quarter. Primecap Management Co. CA now owns 9,116,202 shares of the biopharmaceutical company’s stock worth $172,570,000 after purchasing an additional 25,495 shares during the period. Vanguard Group Inc. increased its position in shares of Xencor by 3.6% in the first quarter. Vanguard Group Inc. now owns 7,011,042 shares of the biopharmaceutical company’s stock worth $155,154,000 after acquiring an additional 243,793 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Xencor by 9.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,819,656 shares of the biopharmaceutical company’s stock valued at $84,530,000 after acquiring an additional 335,881 shares in the last quarter. Armistice Capital LLC lifted its holdings in shares of Xencor by 1.5% during the 4th quarter. Armistice Capital LLC now owns 1,500,000 shares of the biopharmaceutical company’s stock valued at $31,845,000 after acquiring an additional 22,000 shares in the last quarter. Finally, Logos Global Management LP boosted its position in Xencor by 130.8% during the 2nd quarter. Logos Global Management LP now owns 1,500,000 shares of the biopharmaceutical company’s stock worth $28,395,000 after purchasing an additional 850,000 shares during the period.

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.