Xencor, Inc. (NASDAQ:XNCR) Receives $34.38 Average Price Target from Brokerages

Shares of Xencor, Inc. (NASDAQ:XNCR) have been given a consensus rating of “Buy” by the eight research firms that are covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $34.38.

XNCR has been the subject of a number of analyst reports. StockNews.com lowered shares of Xencor from a “hold” rating to a “sell” rating in a report on Friday, March 14th. Piper Sandler upgraded Xencor from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $20.00 to $30.00 in a report on Monday, December 2nd. Finally, Wells Fargo & Company reduced their target price on Xencor from $37.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th.

Institutional Investors Weigh In On Xencor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XNCR. Sanctuary Advisors LLC purchased a new position in Xencor during the third quarter valued at $540,000. Barclays PLC lifted its position in Xencor by 100.7% during the 3rd quarter. Barclays PLC now owns 155,568 shares of the biopharmaceutical company’s stock valued at $3,128,000 after acquiring an additional 78,066 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Xencor during the third quarter worth about $362,000. Jane Street Group LLC grew its holdings in Xencor by 18.6% in the third quarter. Jane Street Group LLC now owns 168,431 shares of the biopharmaceutical company’s stock worth $3,387,000 after purchasing an additional 26,473 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Xencor by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,455,350 shares of the biopharmaceutical company’s stock valued at $29,273,000 after purchasing an additional 17,658 shares in the last quarter.

Xencor Stock Performance

NASDAQ:XNCR opened at $11.23 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.23 and a current ratio of 6.23. Xencor has a fifty-two week low of $10.90 and a fifty-two week high of $27.24. The firm has a market cap of $791.29 million, a PE ratio of -3.51 and a beta of 0.74. The business has a 50 day moving average price of $15.56 and a 200-day moving average price of $20.09.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, beating the consensus estimate of ($0.81) by $0.19. The business had revenue of $52.79 million during the quarter, compared to analysts’ expectations of $17.14 million. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. Equities research analysts predict that Xencor will post -3.68 earnings per share for the current year.

About Xencor

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.