Xencor (NASDAQ:XNCR) Posts Earnings Results, Beats Estimates By $0.83 EPS

Xencor (NASDAQ:XNCR) issued its earnings results on Wednesday. The biopharmaceutical company reported $0.50 earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.83, FiscalAI reports. The business had revenue of $116.52 million for the quarter, compared to analyst estimates of $63.00 million. Xencor had a negative return on equity of 28.66% and a negative net margin of 155.59%.

Xencor Stock Up 14.3%

Shares of NASDAQ XNCR traded up $4.39 during midday trading on Wednesday, hitting $35.03. The company had a trading volume of 2,533,824 shares, compared to its average volume of 1,054,930. Xencor has a twelve month low of $10.38 and a twelve month high of $35.05. The business has a 50-day simple moving average of $25.81 and a two-hundred day simple moving average of $17.13. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of -16.14 and a beta of 0.78.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on XNCR. Cantor Fitzgerald upped their price target on Xencor from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Wells Fargo & Company raised their price objective on shares of Xencor from $30.00 to $44.00 and gave the stock an “overweight” rating in a report on Tuesday, October 27th. Bank of America boosted their price objective on shares of Xencor from $20.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, September 21st. JPMorgan Chase & Co. boosted their price objective on shares of Xencor from $14.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, September 3rd. Finally, Truist Financial upped their target price on shares of Xencor from $29.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, October 27th. One 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.33.

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.