JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Xencor (NASDAQ:XNCR) Stock

Xencor (NASDAQ:XNCR) had its price objective boosted by research analysts at JPMorgan Chase & Co. from $27.00 to $28.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 22.27% from the stock’s current price.

XNCR has been the topic of a number of other reports. BMO Capital Markets restated an “outperform” rating and set a $32.00 price objective on shares of Xencor in a research report on Tuesday, August 6th. 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. Finally, Wedbush reissued an “outperform” rating and issued a $38.00 price objective on shares of Xencor in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $35.33.

Xencor Price Performance

Shares of NASDAQ:XNCR traded up $0.22 during midday trading on Thursday, reaching $22.90. 308,972 shares of the company were exchanged, compared to its average volume of 595,829. The company has a current ratio of 6.92, a quick ratio of 6.92 and a debt-to-equity ratio of 0.02. The stock has a market cap of $1.60 billion, a PE ratio of -7.88 and a beta of 0.66. The business’s fifty day moving average is $20.21 and its two-hundred day moving average is $20.21. Xencor has a one year low of $15.31 and a one year high of $26.84.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, beating 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 analyst estimates of $14.59 million. During the same quarter last year, the business posted ($0.40) earnings per share. The business’s quarterly revenue was down 81.9% compared to the same quarter last year. As a group, analysts predict that Xencor will post -4.11 earnings per share for the current year.

Institutional Investors Weigh In On Xencor

Several hedge funds have recently made changes to their positions in the company. Texas Permanent School Fund Corp increased its holdings in shares of Xencor by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 53,277 shares of the biopharmaceutical company’s stock valued at $1,179,000 after acquiring an additional 690 shares during the period. Linden Thomas Advisory Services LLC grew its holdings in Xencor by 1.6% in the second quarter. Linden Thomas Advisory Services LLC now owns 43,643 shares of the biopharmaceutical company’s stock worth $826,000 after purchasing an additional 699 shares during the last quarter. Baillie Gifford & Co. grew its holdings in Xencor by 3.3% in the second quarter. Baillie Gifford & Co. now owns 23,530 shares of the biopharmaceutical company’s stock worth $445,000 after purchasing an additional 744 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of Xencor by 3.0% during the second quarter. Louisiana State Employees Retirement System now owns 31,000 shares of the biopharmaceutical company’s stock worth $587,000 after purchasing an additional 900 shares in the last quarter. Finally, Diversified Trust Co lifted its holdings in shares of Xencor by 7.8% during the 2nd quarter. Diversified Trust Co now owns 14,076 shares of the biopharmaceutical company’s stock valued at $266,000 after purchasing an additional 1,017 shares during the last quarter.

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.