Xencor’s (XNCR) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Xencor (NASDAQ:XNCR) in a research report report published on Monday morning, RTT News reports. Wedbush currently has a $34.00 price objective on the biopharmaceutical company’s stock.

Several other equities analysts have also commented on XNCR. Royal Bank of Canada restated an outperform rating and set a $31.00 price target on shares of Xencor in a research note on Tuesday, August 6th. Raymond James lowered their price target on shares of Xencor from $58.00 to $40.00 and set a strong-buy rating for the company in a research report on Friday, June 14th. 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. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Xencor from $30.00 to $27.00 and set an overweight rating for the company in a research note on Wednesday, July 31st. Two investment 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. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $34.44.

Xencor Trading Up 22.9 %

Shares of XNCR opened at $19.89 on Monday. 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 capitalization of $1.23 billion, a price-to-earnings ratio of -9.08 and a beta of 0.66. The company has a 50-day moving average of $18.17 and a 200 day moving average of $20.65. Xencor has a 1-year low of $15.31 and a 1-year high of $26.84.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings results on Monday, August 5th. The biopharmaceutical company reported ($1.07) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.25). Xencor had a negative net margin of 132.74% and a negative return on equity of 28.23%. The company had revenue of $16.96 million for the quarter, compared to the consensus estimate of $21.13 million. During the same period in the prior year, the firm posted ($0.37) EPS. The business’s revenue was down 62.7% on a year-over-year basis. On average, research analysts expect that Xencor will post -4.17 EPS for the current year.

Insider Activity at Xencor

In other Xencor news, VP John R. Desjarlais sold 36,329 shares of the stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $18.32, for a total transaction of $665,547.28. Following the sale, the vice president now directly owns 192,319 shares of the company’s stock, valued at approximately $3,523,284.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Xencor

Hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its holdings in Xencor by 18.0% during the fourth quarter. Russell Investments Group Ltd. now owns 156,618 shares of the biopharmaceutical company’s stock worth $3,325,000 after buying an additional 23,892 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Xencor by 16.4% in the 4th quarter. Victory Capital Management Inc. now owns 24,637 shares of the biopharmaceutical company’s stock valued at $523,000 after purchasing an additional 3,477 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Xencor by 6.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 520,698 shares of the biopharmaceutical company’s stock worth $11,054,000 after purchasing an additional 32,251 shares during the period. BNP Paribas Financial Markets boosted its position in Xencor by 105.8% during the fourth quarter. BNP Paribas Financial Markets now owns 82,488 shares of the biopharmaceutical company’s stock worth $1,751,000 after purchasing an additional 42,403 shares in the last quarter. Finally, Jump Financial LLC grew its holdings in Xencor by 266.4% in the fourth quarter. Jump Financial LLC now owns 84,689 shares of the biopharmaceutical company’s stock valued at $1,798,000 after purchasing an additional 61,574 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.