Xencor (NASDAQ:XNCR) Rating Reiterated by Canaccord Genuity Group

Xencor (NASDAQ:XNCR – Get Rating)‘s stock had its “buy” rating reaffirmed by investment analysts at Canaccord Genuity Group in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $50.00 price target on the biopharmaceutical company’s stock. Canaccord Genuity Group’s price target would suggest a potential upside of 64.20% from the company’s current price.

Several other equities research analysts also recently issued reports on XNCR. Piper Sandler lowered their price target on Xencor from $66.00 to $42.00 and set an “overweight” rating on the stock in a research report on Monday, May 23rd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Xencor in a research note on Friday, April 1st. Finally, StockNews.com cut shares of Xencor from a “hold” rating to a “sell” rating in a research note on Thursday, June 30th. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $52.00.

Shares of NASDAQ:XNCR opened at $30.45 on Wednesday. The company has a market cap of $1.81 billion, a P/E ratio of 17.11 and a beta of 0.62. The stock’s 50-day moving average is $24.04 and its 200-day moving average is $29.30. Xencor has a 52-week low of $19.35 and a 52-week high of $43.61.

Xencor (NASDAQ:XNCR – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.70) by $1.09. The company had revenue of $85.50 million for the quarter, compared to the consensus estimate of $26.17 million. Xencor had a return on equity of 15.74% and a net margin of 33.28%. The firm’s revenue was up 152.2% compared to the same quarter last year. During the same period last year, the business posted ($0.04) earnings per share. Research analysts predict that Xencor will post -1.62 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Hong Kong Ltd bought a new position in Xencor during the fourth quarter worth about $41,000. Prospera Financial Services Inc bought a new position in Xencor during the first quarter worth about $28,000. Lazard Asset Management LLC lifted its stake in Xencor by 203.0% during the first quarter. Lazard Asset Management LLC now owns 4,485 shares of the biopharmaceutical company’s stock worth $119,000 after purchasing an additional 3,005 shares during the period. American Century Companies Inc. bought a new position in Xencor during the fourth quarter worth about $201,000. Finally, Profund Advisors LLC bought a new position in Xencor during the fourth quarter worth about $213,000. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Xencor Company Profile (Get Rating)

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.

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