Royal Bank Of Canada Forecasts Strong Price Appreciation for Xencor (NASDAQ:XNCR) Stock

Xencor (NASDAQ:XNCR) had its target price upped by equities researchers at Royal Bank Of Canada from $18.00 to $19.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the biopharmaceutical company’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 30.80% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Barclays raised shares of Xencor from an “underweight” rating to an “overweight” rating and lifted their price objective for the stock from $6.00 to $23.00 in a report on Wednesday, October 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Xencor in a report on Tuesday, October 14th. Wells Fargo & Company reduced their price target on shares of Xencor from $33.00 to $27.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Bank of America downgraded shares of Xencor from a “buy” rating to a “neutral” rating and reduced their price target for the company from $23.00 to $12.00 in a report on Wednesday, September 3rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $26.00 price objective on shares of Xencor in a report on Tuesday, September 2nd. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $26.78.

Xencor Stock Up 1.1%

Shares of XNCR traded up $0.16 during mid-day trading on Thursday, reaching $14.53. 218,499 shares of the stock traded hands, compared to its average volume of 877,973. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -6.09 and a beta of 0.99. The stock has a fifty day simple moving average of $11.47 and a 200 day simple moving average of $9.64. Xencor has a 12-month low of $6.92 and a 12-month high of $27.24.

Xencor (NASDAQ:XNCR) last released its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.64. Xencor had a negative net margin of 121.52% and a negative return on equity of 25.75%. The business had revenue of $21.00 million during the quarter, compared to the consensus estimate of $29.73 million. During the same quarter last year, the company earned ($0.71) earnings per share. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. On average, equities research analysts expect that Xencor will post -3.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Xencor

Several hedge funds and other institutional investors have recently bought and sold shares of XNCR. Braidwell LP raised its position in Xencor by 169.0% in the first quarter. Braidwell LP now owns 1,655,690 shares of the biopharmaceutical company’s stock worth $17,617,000 after acquiring an additional 1,040,159 shares in the last quarter. Primecap Management Co. CA raised its holdings in Xencor by 8.6% during the 1st quarter. Primecap Management Co. CA now owns 9,761,012 shares of the biopharmaceutical company’s stock worth $103,857,000 after buying an additional 776,580 shares during the period. Nantahala Capital Management LLC acquired a new stake in Xencor during the 1st quarter worth about $4,860,000. Bank of America Corp DE raised its holdings in Xencor by 94.5% during the 2nd quarter. Bank of America Corp DE now owns 938,993 shares of the biopharmaceutical company’s stock worth $7,380,000 after buying an additional 456,302 shares during the period. Finally, BVF Inc. IL raised its holdings in Xencor by 19.7% during the 1st quarter. BVF Inc. IL now owns 2,740,141 shares of the biopharmaceutical company’s stock worth $29,155,000 after buying an additional 451,381 shares during the period.

Xencor Company Profile

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.