Xencor (NASDAQ:XNCR) Stock Rating Reaffirmed as Outperform by Wedbush

Xencor (NASDAQ:XNCR)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a note issued to investors on Wednesday, Benzinga reports. They presently have a $30.00 target price on the biopharmaceutical company’s stock. Wedbush‘s price objective suggests a potential upside of 19.24% from the stock’s current price.

Several other equities analysts also recently issued reports on XNCR. Raymond James Financial upped their price objective on shares of Xencor from $40.00 to $46.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 1st. Wells Fargo & Company assumed coverage on shares of Xencor in a report on Wednesday, September 30th. They set an “overweight” rating and a $55.00 price objective on the stock. Truist Financial reiterated a “buy” rating and issued a $29.00 target price (up from $27.00) on shares of Xencor in a research report on Monday, September 28th. Cantor Fitzgerald upped 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. Finally, JPMorgan Chase & Co. upped their target price on Xencor from $14.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, September 3rd. 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 given a Sell rating to the company’s stock. According to MarketBeat.com, Xencor presently has an average rating of “Moderate Buy” and an average 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. 1,479,576 shares of the company traded hands, compared to its average volume of 993,922. 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 posted its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.80) by $0.51. Xencor had a negative net margin of 155.59% and a negative return on equity of 28.66%. The firm had revenue of $51.22 million for the quarter, compared to the consensus estimate of $18.89 million. During the same quarter in the prior year, the company posted ($0.41) earnings per share. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, research analysts expect that Xencor will post -3.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Xencor

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Xencor in the 2nd quarter worth approximately $219,785,000. Primecap Management Co. CA purchased a new stake in Xencor in the 2nd quarter worth approximately $163,919,000. Dimensional Fund Advisors LP boosted its position in Xencor by 3.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,294,887 shares of the biopharmaceutical company’s stock worth $15,613,000 after purchasing an additional 45,599 shares in the last quarter. Legal & General Group Plc purchased a new stake in Xencor in the 2nd quarter worth approximately $17,568,000. Finally, Johnson & Johnson purchased a new stake in Xencor in the 2nd quarter worth approximately $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.