Brokerages Set Xencor, Inc. (NASDAQ:XNCR) Target Price at $35.75

Shares of Xencor, Inc. (NASDAQ:XNCR) have earned a consensus rating of “Buy” from the eight brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $35.75.

A number of research firms have recently commented on XNCR. Wedbush reiterated an “outperform” rating and set a $38.00 target price on shares of Xencor in a research report on Thursday, November 7th. BMO Capital Markets restated an “outperform” rating and issued a $34.00 price target (up from $32.00) on shares of Xencor in a research report on Friday, November 8th. JPMorgan Chase & Co. raised their price target on Xencor from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada raised their price target on Xencor from $31.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th.

Xencor Trading Up 3.8 %

XNCR stock opened at $25.01 on Wednesday. Xencor has a 1-year low of $15.31 and a 1-year high of $26.84. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.23 and a quick ratio of 6.23. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -7.82 and a beta of 0.66. The business has a 50 day simple moving average of $21.47 and a two-hundred day simple moving average of $20.39.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($0.98) by $0.27. The business had revenue of $10.70 million during the quarter, compared to the consensus estimate of $14.59 million. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. The firm’s revenue for the quarter was down 81.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.40) EPS. Research analysts anticipate that Xencor will post -3.71 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Bassil I. Dahiyat sold 3,366 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $24.02, for a total transaction of $80,851.32. Following the transaction, the chief executive officer now owns 352,615 shares in the company, valued at approximately $8,469,812.30. This trade represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP John R. Desjarlais sold 68,684 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $23.48, for a total value of $1,612,700.32. Following the transaction, the vice president now owns 200,104 shares in the company, valued at approximately $4,698,441.92. This represents a 25.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.23% of the company’s stock.

Institutional Investors Weigh In On Xencor

Institutional investors have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. bought a new stake in Xencor during the first quarter valued at about $4,608,000. Price T Rowe Associates Inc. MD boosted its holdings in Xencor by 9.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,819,656 shares of the biopharmaceutical company’s stock worth $84,530,000 after acquiring an additional 335,881 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Xencor by 43.1% in the first quarter. Russell Investments Group Ltd. now owns 224,140 shares of the biopharmaceutical company’s stock worth $4,960,000 after acquiring an additional 67,522 shares in the last quarter. Panagora Asset Management Inc. boosted its holdings in Xencor by 9.4% in the second quarter. Panagora Asset Management Inc. now owns 232,375 shares of the biopharmaceutical company’s stock worth $4,399,000 after acquiring an additional 20,043 shares in the last quarter. Finally, Primecap Management Co. CA boosted its holdings in Xencor by 0.3% in the second quarter. Primecap Management Co. CA now owns 9,116,202 shares of the biopharmaceutical company’s stock worth $172,570,000 after acquiring an additional 25,495 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.