Royal Bank of Canada Raises Xencor (NASDAQ:XNCR) Price Target to $34.00

Xencor (NASDAQ:XNCR) had its target price upped by Royal Bank of Canada from $31.00 to $34.00 in a research report released on Thursday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the biopharmaceutical company’s stock.

XNCR has been the topic of several other research reports. BMO Capital Markets reissued an outperform rating and set a $32.00 price objective on shares of Xencor in a report on Tuesday, August 6th. Wedbush reissued an outperform rating and set a $34.00 price objective on shares of Xencor in a report on Monday, September 9th. Raymond James cut their price objective on Xencor from $58.00 to $40.00 and set a strong-buy rating on the stock in a report on Friday, June 14th. Finally, JPMorgan Chase & Co. cut their price objective on Xencor from $30.00 to $27.00 and set an overweight rating on the stock in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Xencor currently has an average rating of Moderate Buy and a consensus target price of $34.78.

Xencor Trading Down 1.0 %

Shares of XNCR stock opened at $20.25 on Thursday. The stock’s fifty day moving average price is $18.63 and its two-hundred day moving average price is $20.32. The company has a market cap of $1.25 billion, a PE ratio of -9.25 and a beta of 0.66. Xencor has a fifty-two week low of $15.31 and a fifty-two week high of $26.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.92 and a current ratio of 6.92.

Xencor (NASDAQ:XNCR) last issued its earnings results on Monday, August 5th. The biopharmaceutical company reported ($1.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.25). The business had revenue of $16.96 million during the quarter, compared to analyst estimates of $21.13 million. Xencor had a negative net margin of 132.74% and a negative return on equity of 28.23%. The company’s revenue for the quarter was down 62.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.37) EPS. Equities analysts predict that Xencor will post -4.15 EPS for the current fiscal year.

Insider Buying and Selling at Xencor

In other news, VP John R. Desjarlais sold 36,329 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $18.32, for a total value of $665,547.28. Following the transaction, the vice president now owns 192,319 shares in the company, valued at approximately $3,523,284.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Xencor

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Parallel Advisors LLC lifted its stake in Xencor by 303.9% in the fourth quarter. Parallel Advisors LLC now owns 1,349 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 1,015 shares during the last quarter. Quarry LP bought a new stake in Xencor during the 2nd quarter valued at $36,000. GAMMA Investing LLC raised its holdings in Xencor by 153.7% during the 1st quarter. GAMMA Investing LLC now owns 2,172 shares of the biopharmaceutical company’s stock valued at $48,000 after acquiring an additional 1,316 shares during the period. Quest Partners LLC bought a new stake in Xencor during the 4th quarter valued at $61,000. Finally, SG Americas Securities LLC bought a new stake in Xencor during the 2nd quarter valued at $154,000.

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.