Xencor, Inc. (NASDAQ:XNCR) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Xencor, Inc. (NASDAQ:XNCR) have received an average rating of “Buy” from the nine analysts that are currently covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $36.56.

XNCR has been the subject of several analyst reports. Piper Sandler raised Xencor from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $20.00 to $30.00 in a research note on Monday, December 2nd. 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. BMO Capital Markets reiterated an “outperform” rating and set a $34.00 price objective (up previously from $32.00) on shares of Xencor in a research report on Friday, November 8th. Wells Fargo & Company initiated coverage on shares of Xencor in a report on Thursday, December 12th. They issued an “overweight” rating and a $37.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, November 7th.

Xencor Stock Performance

Xencor stock opened at $20.05 on Thursday. Xencor has a 52-week low of $15.31 and a 52-week high of $27.24. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 0.01. The firm’s fifty day moving average is $24.05 and its 200 day moving average is $21.00.

Xencor (NASDAQ:XNCR) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.98) by $0.27. The firm had revenue of $10.70 million for the quarter, compared to analysts’ expectations of $14.59 million. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The business’s revenue was down 81.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.40) EPS. As a group, equities research analysts predict that Xencor will post -3.68 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP John R. Desjarlais sold 68,684 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was 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 of the company’s stock, valued at $4,698,441.92. This represents a 25.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan Bruce Montgomery sold 1,421 shares of Xencor stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $27.03, for a total value of $38,409.63. Following the sale, the director now directly owns 9,140 shares of the company’s stock, valued at approximately $247,054.20. This trade represents a 13.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 136,050 shares of company stock valued at $3,277,609 in the last 90 days. Company insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Xencor

Several institutional investors have recently made changes to their positions in XNCR. Primecap Management Co. CA grew its holdings in 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 acquiring an additional 25,495 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Xencor by 147.3% during the third quarter. Point72 Asset Management L.P. now owns 3,120,229 shares of the biopharmaceutical company’s stock valued at $62,748,000 after purchasing an additional 1,858,440 shares in the last quarter. Logos Global Management LP boosted its stake in shares of Xencor by 130.8% during the second quarter. Logos Global Management LP now owns 1,500,000 shares of the biopharmaceutical company’s stock valued at $28,395,000 after purchasing an additional 850,000 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Xencor by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,459,427 shares of the biopharmaceutical company’s stock worth $27,628,000 after buying an additional 87,979 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Xencor by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,455,350 shares of the biopharmaceutical company’s stock worth $29,273,000 after buying an additional 17,658 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.