Xencor (NASDAQ:XNCR) Stock Gets Price Target Increase from Wedbush

Xencor (NASDAQ:XNCR) had its target price upped by investment analysts at Wedbush from $30.00 to $45.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the biopharmaceutical company’s stock. Wedbush‘s price target points to a potential upside of 54.22% from the stock’s current price.

Several other brokerages have also commented on XNCR. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $43.00 price target on shares of Xencor in a research note on Tuesday. Wells Fargo & Company reissued an “overweight” rating and set a $44.00 price objective on shares of Xencor in a report on Tuesday. Zacks Research raised shares of Xencor from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Cantor Fitzgerald lifted 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, Bank of America boosted their target price on shares of Xencor from $20.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $38.11.

Xencor Stock Up 15.9%

XNCR opened at $29.18 on Tuesday. The stock’s 50 day moving average price is $25.42 and its two-hundred day moving average price is $16.66. The firm has a market capitalization of $2.17 billion, a P/E ratio of -13.45 and a beta of 0.89. Xencor has a 12-month low of $10.38 and a 12-month high of $33.60.

Xencor (NASDAQ:XNCR) last released its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) earnings per share 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 business had revenue of $51.22 million during the quarter, compared to analysts’ expectations of $18.89 million. During the same quarter last year, the company earned ($0.41) earnings per share. The firm’s revenue was up 17.4% on a year-over-year basis. As a group, analysts anticipate that Xencor will post -3.05 earnings per share for the current year.

Hedge Funds Weigh In On Xencor

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC acquired a new position in shares of Xencor during the second quarter valued at about $30,000. Allworth Financial LP bought a new stake in shares of Xencor in the second quarter valued at approximately $55,000. GAMMA Investing LLC lifted its stake 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 buying an additional 572 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Xencor during the 2nd quarter valued at approximately $218,000. Finally, AXQ Capital LP purchased a new stake in shares of Xencor during the 2nd quarter valued at approximately $261,000.

Trending Headlines about Xencor

Here are the key news stories impacting Xencor this week:

• Positive Sentiment: Updated Phase 1 data showed a reported 45.5% objective response rate and what management and commentators described as impressive or potentially unprecedented antitumor activity. The results helped drive strong investor interest in XmAb819’s commercial potential. MarketScreener article
• Positive Sentiment: Xencor reported dose-selection and early efficacy findings from the Phase 1 study and said it plans to advance XmAb819 into a late-stage trial. Progression toward pivotal testing improves the drug’s regulatory and partnership potential. StreetInsider article
• Positive Sentiment: Investors are also responding to the possibility that the strength of the data could support an accelerated FDA approval pathway, although that outcome is not yet assured. Seeking Alpha analysis
• Neutral Sentiment: The evidence remains from an early-stage Phase 1 trial. XmAb819 must still demonstrate durability, safety, and benefit in larger studies before approval, so the recent move reflects heightened expectations rather than a guaranteed product launch.
• Neutral Sentiment: Reports concerning October short interest appear internally inconsistent, citing zero shares and a zero-day days-to-cover ratio; therefore, short-covering does not appear to be a meaningful explanation for the move.

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.