Xencor (NASDAQ:XNCR) Stock Keeps Outperform Rating at Wedbush

Xencor (NASDAQ:XNCR)‘s stock had its “outperform” rating reissued by research analysts at Wedbush in a note issued to investors on Wednesday, Benzinga reports. They presently have a $30.00 price target on the biopharmaceutical company’s stock. Wedbush‘s price target would indicate a potential upside of 21.22% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Cantor Fitzgerald increased their price objective on Xencor from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Zacks Research raised Xencor from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Xencor in a research report on Monday, September 21st. Wall Street Zen raised Xencor from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Royal Bank Of Canada increased their price objective on Xencor from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

Xencor Trading Down 0.8%

Xencor stock traded down $0.19 during trading hours on Wednesday, reaching $24.75. 151,797 shares of the company were exchanged, compared to its average volume of 987,352. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of -11.45 and a beta of 0.89. The stock has a 50-day moving average of $25.24 and a 200 day moving average of $18.16. Xencor has a 12 month low of $10.38 and a 12 month high of $30.61.

Xencor (NASDAQ:XNCR) last announced its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.51. The firm 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 company’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.41) earnings per share. As a group, research analysts forecast that Xencor will post -3.05 EPS for the current year.

Hedge Funds Weigh In On Xencor

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its holdings in shares of Xencor by 15.5% during the 3rd quarter. GAMMA Investing LLC now owns 4,269 shares of the biopharmaceutical company’s stock worth $107,000 after acquiring an additional 572 shares during the period. Allworth Financial LP lifted its holdings in shares of Xencor by 23.2% during the 2nd quarter. Allworth Financial LP now owns 3,436 shares of the biopharmaceutical company’s stock worth $55,000 after acquiring an additional 646 shares during the period. WINTON GROUP Ltd lifted its holdings 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 worth $1,711,000 after acquiring an additional 1,534 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of Xencor during the second quarter valued at $30,000. Finally, Diversified Trust Co lifted its holdings in shares of Xencor by 16.7% during the first quarter. Diversified Trust Co now owns 21,528 shares of the biopharmaceutical company’s stock valued at $260,000 after acquiring an additional 3,086 shares during the period.

Xencor Company Profile

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.