Xencor’s (XNCR) “Outperform” Rating Reiterated at Wedbush

Xencor (NASDAQ:XNCR)‘s stock had its “outperform” rating reaffirmed by analysts at 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 current price.

A number of other brokerages have also issued reports on XNCR. Cantor Fitzgerald increased their target price on Xencor from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. lifted their price target on Xencor from $14.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, September 3rd. Truist Financial reiterated a “buy” rating and set a $29.00 price target (up from $27.00) on shares of Xencor in a report on Monday, September 28th. Bank of America raised their price objective on Xencor from $20.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, September 21st. Finally, Barclays lifted their target price on Xencor from $27.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Xencor Stock Up 0.9%

Shares of XNCR traded up $0.22 during mid-day trading on Wednesday, hitting $25.16. 1,479,580 shares of the company traded hands, compared to its average volume of 993,934. Xencor has a 1-year low of $10.38 and a 1-year high of $30.61. The company has a market capitalization of $1.87 billion, a PE ratio of -11.59 and a beta of 0.89. The business has a 50 day moving average of $25.24 and a 200 day moving average of $18.16.

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

Institutional Investors Weigh In On Xencor

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Xencor during the second quarter worth about $219,785,000. Primecap Management Co. CA purchased a new position in Xencor during the second quarter worth about $163,919,000. Dimensional Fund Advisors LP lifted its position in Xencor by 3.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,294,887 shares of the biopharmaceutical company’s stock worth $15,613,000 after buying an additional 45,599 shares during the period. Legal & General Group Plc purchased a new position in Xencor during the second quarter worth about $17,568,000. Finally, Johnson & Johnson purchased a new position in Xencor during the second quarter worth about $12,043,798.

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.