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

Xencor (NASDAQ:XNCR)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a research note issued on Wednesday, Benzinga reports. They currently have a $30.00 price objective on the biopharmaceutical company’s stock. Wedbush‘s price target points to a potential upside of 19.24% from the stock’s previous close.

XNCR has been the subject of several other research reports. Wall Street Zen raised shares of Xencor from a “strong sell” rating to a “hold” rating in a report on Saturday, August 8th. Raymond James Financial increased their target price on shares of Xencor from $40.00 to $46.00 and gave the company a “strong-buy” rating in a research report on Tuesday, September 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Xencor in a research note on Monday, September 21st. Truist Financial reissued a “buy” rating and set a $29.00 target price (up from $27.00) on shares of Xencor in a research note on Monday, September 28th. Finally, Zacks Research upgraded shares of Xencor from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. One 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Xencor Trading Up 0.9%

XNCR traded up $0.22 during trading hours on Wednesday, hitting $25.16. The company’s stock had a trading volume of 1,479,580 shares, compared to its average volume of 993,934. The company has a 50-day simple moving average of $25.24 and a 200 day simple moving average of $18.16. The firm has a market capitalization of $1.87 billion, a PE ratio of -11.59 and a beta of 0.89. Xencor has a fifty-two week low of $10.38 and a fifty-two week high of $30.61.

Xencor (NASDAQ:XNCR) last announced its quarterly 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 company had revenue of $51.22 million during the quarter, compared to analyst estimates of $18.89 million. Xencor had a negative return on equity of 28.66% and a negative net margin of 155.59%. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.41) EPS. Research analysts expect that Xencor will post -3.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Xencor

Several hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its position 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 valued at $107,000 after acquiring an additional 572 shares during the last quarter. WINTON GROUP Ltd grew its holdings in shares of Xencor by 1.5% in 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 last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Xencor during the second quarter worth $30,000. Squarepoint Ops LLC acquired a new stake in shares of Xencor during the second quarter worth $459,000. Finally, Allworth Financial LP raised its position in shares of Xencor by 23.2% during 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.