Xencor’s (XNCR) Outperform Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Xencor (NASDAQ:XNCR) in a research report released on Thursday morning,RTT News reports. The brokerage currently has a $38.00 price target on the biopharmaceutical company’s stock.

A number of other analysts have also recently weighed in on the stock. Royal Bank of Canada raised their target price on shares of Xencor from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. cut their price target on Xencor from $30.00 to $27.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $32.00 price objective on shares of Xencor in a report on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.56.

Xencor Stock Up 2.4 %

Xencor stock traded up $0.55 during midday trading on Thursday, hitting $23.73. 109,778 shares of the stock were exchanged, compared to its average volume of 594,756. Xencor has a 1 year low of $15.31 and a 1 year high of $26.84. The company has a 50 day moving average price of $20.33 and a two-hundred day moving average price of $20.23. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.92 and a quick ratio of 6.92. The firm has a market cap of $1.66 billion, a P/E ratio of -7.38 and a beta of 0.66.

Xencor (NASDAQ:XNCR) last released its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($0.98) by $0.27. Xencor had a negative net margin of 232.77% and a negative return on equity of 32.25%. The firm had revenue of $10.70 million for the quarter, compared to analyst estimates of $14.59 million. During the same quarter in the prior year, the business earned ($0.40) earnings per share. Xencor’s quarterly revenue was down 81.9% on a year-over-year basis. On average, sell-side analysts predict that Xencor will post -4.11 earnings per share for the current fiscal year.

Institutional Trading of Xencor

A number of institutional investors have recently bought and sold shares of XNCR. Jacobs Levy Equity Management Inc. bought a new position in shares of Xencor during the 1st quarter worth approximately $4,608,000. Price T Rowe Associates Inc. MD boosted its stake in Xencor by 9.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,819,656 shares of the biopharmaceutical company’s stock worth $84,530,000 after acquiring an additional 335,881 shares in the last quarter. Entropy Technologies LP acquired a new stake in Xencor in the first quarter worth $573,000. Russell Investments Group Ltd. grew its holdings in Xencor by 43.1% in the first quarter. Russell Investments Group Ltd. now owns 224,140 shares of the biopharmaceutical company’s stock worth $4,960,000 after purchasing an additional 67,522 shares during the period. Finally, Panagora Asset Management Inc. raised its holdings in shares of Xencor by 9.4% during the second quarter. Panagora Asset Management Inc. now owns 232,375 shares of the biopharmaceutical company’s stock valued at $4,399,000 after purchasing an additional 20,043 shares during the period.

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.