Wells Fargo & Company Begins Coverage on Xencor (NASDAQ:XNCR)

Research analysts at Wells Fargo & Company initiated coverage on shares of Xencor (NASDAQ:XNCR) in a research report issued to clients and investors on Thursday, Marketbeat reports. The brokerage set an “overweight” rating and a $37.00 price target on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 46.48% from the company’s previous close.

A number of other analysts also recently weighed in on XNCR. Royal Bank of Canada upped their target price on Xencor from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. BMO Capital Markets reaffirmed an “outperform” rating and set a $34.00 price objective (up previously from $32.00) on shares of Xencor in a research report on Friday, November 8th. Piper Sandler upgraded shares of 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 research note on Monday, December 2nd. JPMorgan Chase & Co. boosted their target price on shares of Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Wedbush reiterated an “outperform” rating and set a $38.00 price target on shares of Xencor in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Xencor presently has a consensus rating of “Buy” and a consensus price target of $36.56.

Xencor Trading Down 0.1 %

XNCR stock opened at $25.26 on Thursday. Xencor has a 52 week low of $15.31 and a 52 week high of $27.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.23 and a current ratio of 6.23. The company’s 50-day simple moving average is $22.84 and its 200 day simple moving average is $20.65. The company has a market capitalization of $1.77 billion, a PE ratio of -7.89 and a beta of 0.69.

Xencor (NASDAQ:XNCR) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) EPS for the quarter, topping the consensus estimate of ($0.98) by $0.27. The company had revenue of $10.70 million for the quarter, compared to analysts’ expectations of $14.59 million. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The business’s revenue for the quarter was down 81.9% on a year-over-year basis. During the same period last year, the firm earned ($0.40) earnings per share. As a group, sell-side analysts anticipate that Xencor will post -3.71 earnings per share for the current year.

Insider Activity at Xencor

In other news, CEO Bassil I. Dahiyat sold 3,366 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $24.02, for a total value of $80,851.32. Following the completion of the transaction, the chief executive officer now owns 352,615 shares of the company’s stock, valued at $8,469,812.30. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Alan Bruce Montgomery sold 13,301 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $27.03, for a total transaction of $359,526.03. Following the sale, the director now directly owns 9,140 shares in the company, valued at $247,054.20. The trade was a 59.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 136,050 shares of company stock valued at $3,277,609. 5.23% of the stock is owned by insiders.

Hedge Funds Weigh In On Xencor

Large investors have recently modified their holdings of the business. Quarry LP bought a new stake in shares of Xencor in the second quarter worth $36,000. KBC Group NV grew its position in shares of Xencor by 63.5% in the 3rd 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 during the last quarter. SG Americas Securities LLC bought a new stake in shares of Xencor in the 2nd quarter valued at about $154,000. XTX Topco Ltd acquired a new stake in shares of Xencor in the second quarter valued at about $196,000. Finally, Rockefeller Capital Management L.P. bought a new position in shares of Xencor during the third quarter worth about $205,000.

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.