Cantor Fitzgerald Initiates Coverage on Xencor (NASDAQ:XNCR)

Investment analysts at Cantor Fitzgerald initiated coverage on shares of Xencor (NASDAQ:XNCR) in a research note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage set an “overweight” rating and a $70.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald‘s price target points to a potential upside of 95.80% from the company’s current price.

XNCR has been the topic of several other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xencor in a report on Monday, September 21st. Bank of America increased 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. Raymond James Financial lifted their target price on shares of Xencor from $40.00 to $46.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 1st. Wall Street Zen upgraded shares of Xencor from a “strong sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Barclays set a $45.00 price target on shares of Xencor and gave the company an “overweight” rating in a research report on Monday, October 26th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Xencor has an average rating of “Moderate Buy” and a consensus target price of $42.22.

Xencor Trading Up 5.0%

NASDAQ:XNCR traded up $1.70 during trading hours on Thursday, hitting $35.75. 1,115,952 shares of the company were exchanged, compared to its average volume of 1,810,007. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of -22.48 and a beta of 0.78. Xencor has a one year low of $10.38 and a one year high of $36.50. The company has a fifty day simple moving average of $26.17 and a 200 day simple moving average of $17.46.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings results on Wednesday, November 4th. The biopharmaceutical company reported $0.50 earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.83. Xencor had a negative return on equity of 28.66% and a negative net margin of 155.59%. The company had revenue of $116.52 million during the quarter, compared to analysts’ expectations of $63.00 million. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. The business’s quarterly revenue was up 453.3% on a year-over-year basis. Equities research analysts predict that Xencor will post -3.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Xencor

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its stake in 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 purchasing an additional 572 shares in the last quarter. Allworth Financial LP increased 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 acquiring an additional 646 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its holdings in shares of Xencor by 31.0% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 5,804 shares of the biopharmaceutical company’s stock worth $145,000 after acquiring an additional 1,373 shares during the last quarter. WINTON GROUP Ltd raised 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. Finally, China Universal Asset Management Co. Ltd. lifted its position in Xencor by 15.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 13,567 shares of the biopharmaceutical company’s stock valued at $339,000 after acquiring an additional 1,767 shares in the last quarter.

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.