Xencor (NASDAQ:XNCR) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Xencor (NASDAQ:XNCR) from a hold rating to a buy rating in a research note released on Saturday,Wall Street Zen reports.

A number of other research firms have also recently weighed in on XNCR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xencor in a report on Monday, September 21st. Wedbush lifted their price objective on Xencor from $30.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, October 27th. Raymond James Financial boosted their price objective on Xencor from $40.00 to $46.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 1st. Truist Financial increased their target price on Xencor from $29.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, October 27th. Finally, Royal Bank Of Canada raised their target price on Xencor from $20.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, October 27th. One research 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.22.

Xencor Trading Up 5.0%

Shares of Xencor stock opened at $35.75 on Friday. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of -22.48 and a beta of 0.78. Xencor has a 1-year low of $10.38 and a 1-year high of $36.50. The firm’s 50-day moving average price is $26.17 and its two-hundred day moving average price is $17.46.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings data on Wednesday, November 4th. The biopharmaceutical company reported $0.50 earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.83. Xencor had a negative net margin of 58.79% and a negative return on equity of 21.28%. The company had revenue of $116.52 million during the quarter, compared to analyst estimates of $63.00 million. During the same quarter last year, the business posted ($0.08) earnings per share. The company’s revenue was up 453.3% on a year-over-year basis. As a group, equities research analysts predict that Xencor will post -2.85 EPS for the current year.

Institutional Trading of Xencor

Several hedge funds have recently modified their holdings of XNCR. Integrated Wealth Concepts LLC bought a new position in Xencor in the 2nd quarter worth approximately $30,000. Allworth Financial LP acquired a new position in Xencor during the 2nd quarter worth $55,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Xencor during the 3rd quarter worth $95,000. GAMMA Investing LLC boosted its position in Xencor by 15.5% in the 3rd quarter. GAMMA Investing LLC now owns 4,269 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 572 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. boosted its position in Xencor by 31.0% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 5,804 shares of the biopharmaceutical company’s stock valued at $145,000 after buying an additional 1,373 shares during the last quarter.

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.