BMO Capital Markets Reiterates Outperform Rating for Xencor (NASDAQ:XNCR)

Xencor (NASDAQ:XNCR)‘s stock had its “outperform” rating reaffirmed by BMO Capital Markets in a research note issued to investors on Friday,Benzinga reports. They currently have a $34.00 price target on the biopharmaceutical company’s stock, up from their previous price target of $32.00. BMO Capital Markets’ price objective would indicate a potential upside of 43.95% from the company’s previous close.

Several other equities research analysts also recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Xencor from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday. Royal Bank of Canada lifted their price target on shares of Xencor from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Finally, Wedbush restated an “outperform” rating and issued a $38.00 price objective on shares of Xencor in a report on Thursday. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Xencor has an average rating of “Moderate Buy” and an average target price of $35.75.

Xencor Stock Up 1.9 %

Shares of XNCR opened at $23.62 on Friday. 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 has a 52 week low of $15.31 and a 52 week high of $26.84. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -7.38 and a beta of 0.66. The stock has a fifty day moving average of $20.45 and a 200-day moving average of $20.28.

Xencor (NASDAQ:XNCR) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) EPS for the quarter, beating the consensus estimate of ($0.98) by $0.27. Xencor had a negative return on equity of 32.25% and a negative net margin of 232.77%. The firm had revenue of $10.70 million during the quarter, compared to the consensus estimate of $14.59 million. During the same period last year, the company earned ($0.40) earnings per share. The business’s quarterly revenue was down 81.9% on a year-over-year basis. As a group, sell-side analysts anticipate 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 the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Xencor by 10.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,942 shares of the biopharmaceutical company’s stock worth $751,000 after acquiring an additional 3,144 shares in the last quarter. Texas Permanent School Fund Corp increased its holdings in Xencor by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 53,277 shares of the biopharmaceutical company’s stock worth $1,179,000 after purchasing an additional 690 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Xencor by 43.1% in the first quarter. Russell Investments Group Ltd. now owns 224,140 shares of the biopharmaceutical company’s stock valued at $4,960,000 after buying an additional 67,522 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Xencor by 8.1% during the 1st quarter. ProShare Advisors LLC now owns 16,036 shares of the biopharmaceutical company’s stock worth $355,000 after buying an additional 1,203 shares in the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of Xencor during the 1st quarter worth approximately $573,000.

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.