Xencor’s (XNCR) Outperform Rating Reiterated at Wedbush

Xencor (NASDAQ:XNCR)‘s stock had its “outperform” rating reaffirmed by Wedbush in a research report issued on Thursday, RTT News reports. They presently have a $38.00 target price on the biopharmaceutical company’s stock. Wedbush’s price objective would indicate a potential upside of 65.79% from the stock’s current price.

XNCR has been the subject of a number of other reports. Royal Bank of Canada upped their price target on shares of Xencor from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. reduced their price objective on Xencor from $30.00 to $27.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Finally, BMO Capital Markets reissued an “outperform” rating and set a $32.00 target price on shares of Xencor in a research report on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $35.22.

Xencor Stock Up 1.1 %

NASDAQ XNCR traded up $0.24 during trading on Thursday, hitting $22.92. 109,578 shares of the company traded hands, compared to its average volume of 595,040. The company has a market capitalization of $1.60 billion, a P/E ratio of -8.04 and a beta of 0.66. The business has a fifty day simple moving average of $20.21 and a 200 day simple moving average of $20.21. Xencor has a 12 month low of $15.31 and a 12 month high of $26.84. The company has a current ratio of 6.92, a quick ratio of 6.92 and a debt-to-equity ratio of 0.02.

Xencor (NASDAQ:XNCR) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.27. Xencor had a negative return on equity of 28.23% and a negative net margin of 132.74%. The firm had revenue of $10.70 million during the quarter, compared to analysts’ expectations of $14.59 million. During the same quarter in the prior year, the business earned ($0.40) earnings per share. The company’s revenue was down 81.9% on a year-over-year basis. As a group, sell-side analysts predict that Xencor will post -4.11 EPS for the current year.

Institutional Investors Weigh In On Xencor

Several institutional investors and hedge funds have recently made changes to their positions in XNCR. Quarry LP bought a new stake in Xencor during the second quarter worth about $36,000. KBC Group NV increased its stake in shares of Xencor by 63.5% in the third quarter. KBC Group NV now owns 3,123 shares of the biopharmaceutical company’s stock valued at $63,000 after buying an additional 1,213 shares in the last quarter. SG Americas Securities LLC acquired a new position in Xencor during the 2nd quarter worth about $154,000. XTX Topco Ltd bought a new stake in Xencor during the 2nd quarter worth about $196,000. Finally, Acadian Asset Management LLC acquired a new stake in Xencor in the 1st quarter valued at about $206,000.

Xencor Company Profile

Xencor, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of engineered monoclonal antibody and cytokine therapeutics to treat patients with cancer and autoimmune diseases. The company provides Sotrovimab that targets the SARS-CoV-2 virus; Ultomiris for the treatment of patients with paroxysmal nocturnal hemoglobinuria and atypical hemolytic uremic syndrome; and Monjuvi for the treatment of patients with relapsed or refractory diffuse large B-cell lymphoma.