Zacks Investment Research upgraded shares of Xencor (NASDAQ:XNCR) from a hold rating to a buy rating in a research report released on Friday. The brokerage currently has $47.00 price objective on the biopharmaceutical company’s stock.
According to Zacks, “Xencor Inc. is a clinical-stage biopharmaceutical company. It develops antibodies for the treatment of autoimmune diseases, asthma and allergic diseases, and cancer. Xencor Inc. is based in Monrovia, California. “
Several other research firms have also issued reports on XNCR. Canaccord Genuity increased their price target on shares of Xencor from $38.00 to $45.00 and gave the stock a buy rating in a research report on Wednesday, August 8th. BidaskClub raised shares of Xencor from a buy rating to a strong-buy rating in a research report on Friday, July 13th. Piper Jaffray Companies reissued an overweight rating on shares of Xencor in a research report on Tuesday, August 7th. Cantor Fitzgerald reissued a buy rating and issued a $40.00 price target on shares of Xencor in a research report on Tuesday. Finally, Wedbush reissued an outperform rating and issued a $42.00 price target on shares of Xencor in a research report on Monday, October 8th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Xencor currently has a consensus rating of Buy and a consensus target price of $41.13.
Shares of XNCR traded down $1.84 during trading hours on Friday, reaching $37.88. 184,118 shares of the company traded hands, compared to its average volume of 253,280. The firm has a market capitalization of $2.34 billion, a P/E ratio of -36.08 and a beta of 1.73. Xencor has a 1-year low of $19.50 and a 1-year high of $48.38.
Xencor (NASDAQ:XNCR) last announced its quarterly earnings data on Monday, November 5th. The biopharmaceutical company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.52) by $0.57. The company had revenue of $29.04 million for the quarter. Equities research analysts predict that Xencor will post -1.69 earnings per share for the current year.
In other Xencor news, insider Paul A. Foster sold 36,341 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $41.10, for a total transaction of $1,493,615.10. Following the sale, the insider now directly owns 8,611 shares of the company’s stock, valued at $353,912.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder John S. Stafford III sold 1,000 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $48.05, for a total transaction of $48,050.00. The disclosure for this sale can be found here. Insiders have sold 127,341 shares of company stock worth $5,390,865 over the last ninety days. Insiders own 4.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. FMR LLC grew its stake in Xencor by 0.4% during the third quarter. FMR LLC now owns 8,373,916 shares of the biopharmaceutical company’s stock worth $326,331,000 after buying an additional 30,163 shares during the last quarter. Artal Group S.A. grew its stake in Xencor by 25.0% during the third quarter. Artal Group S.A. now owns 500,000 shares of the biopharmaceutical company’s stock worth $19,485,000 after buying an additional 100,000 shares during the last quarter. BlackRock Inc. grew its stake in Xencor by 1.0% during the third quarter. BlackRock Inc. now owns 4,051,683 shares of the biopharmaceutical company’s stock worth $157,896,000 after buying an additional 40,528 shares during the last quarter. Swiss National Bank grew its stake in Xencor by 2.3% during the third quarter. Swiss National Bank now owns 87,300 shares of the biopharmaceutical company’s stock worth $3,402,000 after buying an additional 2,000 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Xencor by 5.2% during the third quarter. JPMorgan Chase & Co. now owns 251,155 shares of the biopharmaceutical company’s stock worth $9,787,000 after buying an additional 12,320 shares during the last quarter. 83.03% of the stock is currently owned by hedge funds and other institutional investors.
Xencor Company Profile
Xencor, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of engineered monoclonal antibody therapeutics to treat severe and life threatening diseases with unmet medical needs. It develops its antibody product candidates to treat autoimmune and allergic diseases, cancer, and other conditions.
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