Xencor (NASDAQ:XNCR) Sets New 12-Month High – Here’s Why

Xencor, Inc. (NASDAQ:XNCR) reached a new 52-week high on Thursday . The stock traded as high as $21.64 and last traded at $21.3210, with a volume of 776533 shares trading hands. The stock had previously closed at $19.53.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wall Street Zen lowered shares of Xencor from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 9th. Truist Financial lowered their price target on shares of Xencor from $29.00 to $27.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Zacks Research upgraded shares of Xencor from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Wedbush restated an “outperform” rating and set a $26.00 target price on shares of Xencor in a research report on Thursday. Finally, JPMorgan Chase & Co. increased their price objective on Xencor from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.25.

Xencor Trading Up 10.1%

The stock has a market cap of $1.59 billion, a price-to-earnings ratio of -9.41 and a beta of 0.86. The firm has a fifty day simple moving average of $14.48 and a 200-day simple moving average of $13.05.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($1.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.96). The firm had revenue of $4.52 million during the quarter, compared to the consensus estimate of $27.86 million. Xencor had a negative net margin of 177.10% and a negative return on equity of 28.77%. Xencor’s revenue was down 86.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.66) EPS. On average, equities analysts predict that Xencor, Inc. will post -3.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Xencor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC acquired a new position in Xencor during the first quarter valued at approximately $438,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Xencor by 9.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,047 shares of the biopharmaceutical company’s stock worth $471,000 after purchasing an additional 3,692 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Xencor by 89.9% during the first quarter. Goldman Sachs Group Inc. now owns 726,734 shares of the biopharmaceutical company’s stock worth $7,732,000 after buying an additional 344,088 shares in the last quarter. Creative Planning raised its holdings in shares of Xencor by 25.3% in the second quarter. Creative Planning now owns 18,130 shares of the biopharmaceutical company’s stock valued at $143,000 after purchasing an additional 3,661 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Xencor by 170.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 330,007 shares of the biopharmaceutical company’s stock valued at $2,594,000 after buying an additional 208,182 shares during the last quarter.

About Xencor

Xencor, Inc is a clinical-stage biopharmaceutical company focused on the design and development of engineered protein therapeutics for the treatment of autoimmune diseases, cancer and neurological disorders. The company applies its proprietary XmAb® platform to manipulate antibody structure and function, creating molecules with enhanced immune engagement and extended half-life. Xencor’s research programs span a range of therapeutic modalities, including monoclonal antibodies, bispecific antibodies and cytokine-based fusion proteins.

The XmAb® platform enables precise modification of the Fc region to augment key properties such as receptor binding, effector function and pharmacokinetics.