Wedbush Reaffirms “Outperform” Rating for Xencor (NASDAQ:XNCR)

Xencor (NASDAQ:XNCR)‘s stock had its “outperform” rating reiterated by Wedbush in a report released on Wednesday, Benzinga reports. They presently have a $30.00 price target on the biopharmaceutical company’s stock. Wedbush‘s target price would indicate a potential upside of 19.24% from the stock’s previous close.

Several other research firms also recently weighed in on XNCR. Wall Street Zen raised shares of Xencor from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. Wells Fargo & Company assumed coverage on shares of Xencor in a research report on Wednesday, September 30th. They set an “overweight” rating and a $55.00 price objective on the stock. Royal Bank Of Canada raised their target price on Xencor from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. boosted their target price on Xencor from $14.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, September 3rd. Finally, Barclays upped their price target on Xencor from $27.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Xencor has an average rating of “Moderate Buy” and an average price target of $34.00.

Xencor Stock Performance

Shares of Xencor stock traded up $0.22 on Wednesday, reaching $25.16. 1,479,580 shares of the company’s stock were exchanged, compared to its average volume of 993,934. The company has a market capitalization of $1.87 billion, a P/E ratio of -11.59 and a beta of 0.89. Xencor has a 52 week low of $10.38 and a 52 week high of $30.61. The firm’s 50-day moving average is $25.24 and its two-hundred day moving average is $18.16.

Xencor (NASDAQ:XNCR) last released its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.80) by $0.51. The company had revenue of $51.22 million during the quarter, compared to analyst estimates of $18.89 million. Xencor had a negative net margin of 155.59% and a negative return on equity of 28.66%. Xencor’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.41) EPS. On average, analysts expect that Xencor will post -3.05 EPS for the current fiscal year.

Institutional Trading of Xencor

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in Xencor by 15.5% in the 3rd quarter. GAMMA Investing LLC now owns 4,269 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 572 shares during the period. WINTON GROUP Ltd grew its position in shares of Xencor by 1.5% during the 2nd quarter. WINTON GROUP Ltd now owns 106,247 shares of the biopharmaceutical company’s stock valued at $1,711,000 after purchasing an additional 1,534 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Xencor in the second quarter worth $30,000. Squarepoint Ops LLC bought a new position in shares of Xencor in the second quarter worth $459,000. Finally, Allworth Financial LP increased its holdings in shares of Xencor by 23.2% in the second quarter. Allworth Financial LP now owns 3,436 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 646 shares during the period.

About Xencor

Xencor, Inc is a clinical-stage biopharmaceutical company headquartered in Monrovia, California. Founded in 1997, the company develops engineered antibodies and other biologic medicines for the treatment of cancer, autoimmune disorders and other serious diseases.

Xencor’s research is centered on its XmAb technology platform, which is designed to modify antibodies to improve their therapeutic properties or create new antibody-based mechanisms. The platform supports the development of bispecific antibodies, immune-cell engagers and antibodies with extended activity in the body.