Xencor (NASDAQ:XNCR) Earns “Outperform” Rating from Wedbush

Xencor (NASDAQ:XNCR)‘s stock had its “outperform” rating reissued by stock analysts at Wedbush in a report released on Wednesday, Benzinga reports. They presently have a $30.00 target price on the biopharmaceutical company’s stock. Wedbush‘s target price indicates a potential upside of 21.30% from the stock’s previous close.

A number of other research firms have also issued reports on XNCR. Bank of America upped their price target on Xencor from $20.00 to $26.00 and gave the company a “neutral” rating in a research report on Monday, September 21st. Wall Street Zen raised shares of Xencor from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Xencor in a research report on Monday, September 21st. Wells Fargo & Company assumed coverage on shares of Xencor in a research note on Wednesday, September 30th. They set an “overweight” rating and a $55.00 price objective on the stock. Finally, Barclays raised their price objective 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 issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $34.00.

Xencor Stock Performance

Shares of NASDAQ:XNCR traded down $1.11 during midday trading on Wednesday, reaching $24.73. 470,647 shares of the company’s stock traded hands, compared to its average volume of 990,312. The company has a market cap of $1.84 billion, a price-to-earnings ratio of -11.42 and a beta of 0.89. Xencor has a one year low of $10.38 and a one year high of $30.61. The stock has a 50 day moving average of $25.33 and a 200 day moving average of $18.34.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.51. The business had revenue of $51.22 million during the quarter, compared to analysts’ expectations of $18.89 million. Xencor had a negative return on equity of 28.66% and a negative net margin of 155.59%. The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.41) earnings per share. Sell-side analysts predict that Xencor will post -3.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Xencor

Hedge funds have recently bought and sold shares of the business. Johnson & Johnson acquired a new position in Xencor during the second quarter worth $12,043,798. Hsbc Holdings PLC raised its holdings in Xencor by 114.2% during the second quarter. Hsbc Holdings PLC now owns 125,482 shares of the biopharmaceutical company’s stock worth $2,083,000 after buying an additional 66,903 shares during the last quarter. Man Group plc acquired a new position in Xencor during the second quarter worth $940,000. Primecap Management Co. CA acquired a new position in Xencor during the second quarter worth $163,919,000. Finally, Seven Fleet Capital Management LP acquired a new position in Xencor during the second quarter worth $7,828,524,000.

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.