Xencor’s (XNCR) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Xencor (NASDAQ:XNCR) in a research report report published on Tuesday, Benzinga reports. The firm currently has a $31.00 price target on the biopharmaceutical company’s stock.

Several other brokerages have also issued reports on XNCR. Wedbush reiterated an outperform rating and issued a $34.00 price target (down previously from $36.00) on shares of Xencor in a report on Thursday, June 13th. JPMorgan Chase & Co. lowered their price objective on Xencor from $30.00 to $27.00 and set an overweight rating for the company in a research note on Wednesday, July 31st. BMO Capital Markets reissued an outperform rating and issued a $32.00 price objective on shares of Xencor in a research note on Tuesday. BTIG Research lowered their price objective on Xencor from $56.00 to $38.00 and set a buy rating for the company in a research note on Tuesday, April 16th. Finally, Raymond James lowered their price objective on Xencor from $58.00 to $40.00 and set a strong-buy rating for the company in a research note on Friday, June 14th. 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $34.44.

Xencor Stock Up 2.3 %

Shares of NASDAQ:XNCR opened at $16.06 on Tuesday. The business’s 50 day simple moving average is $20.10 and its two-hundred day simple moving average is $21.20. The firm has a market cap of $990.26 million, a P/E ratio of -7.33 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.08 and a current ratio of 6.92. Xencor has a 52-week low of $15.31 and a 52-week high of $26.84.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings results on Monday, August 5th. The biopharmaceutical company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.25). The firm had revenue of $16.96 million during the quarter, compared to the consensus estimate of $21.13 million. Xencor had a negative return on equity of 28.23% and a negative net margin of 132.74%. The firm’s revenue was down 62.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.37) EPS. As a group, research analysts forecast that Xencor will post -3.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Xencor news, VP John R. Desjarlais sold 36,329 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president now directly owns 192,319 shares of the company’s stock, valued at $3,523,284.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Xencor

A number of large investors have recently made changes to their positions in the stock. American Century Companies Inc. boosted its holdings in shares of Xencor by 14.5% in the second quarter. American Century Companies Inc. now owns 95,375 shares of the biopharmaceutical company’s stock worth $1,805,000 after acquiring an additional 12,083 shares during the period. Quest Partners LLC boosted its holdings in shares of Xencor by 121.2% in the second quarter. Quest Partners LLC now owns 18,639 shares of the biopharmaceutical company’s stock worth $353,000 after acquiring an additional 10,214 shares during the period. TD Asset Management Inc boosted its holdings in shares of Xencor by 1.5% in the second quarter. TD Asset Management Inc now owns 145,650 shares of the biopharmaceutical company’s stock worth $2,757,000 after acquiring an additional 2,200 shares during the period. Rhumbline Advisers boosted its stake in Xencor by 2.8% during the second quarter. Rhumbline Advisers now owns 154,573 shares of the biopharmaceutical company’s stock valued at $2,926,000 after buying an additional 4,265 shares during the period. Finally, Panagora Asset Management Inc. boosted its stake in 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 buying an additional 20,043 shares during the period.

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.