Xencor (NASDAQ:XNCR) Stock Rating Upgraded by Piper Sandler

Xencor (NASDAQ:XNCR) was upgraded by research analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a note issued to investors on Monday, MarketBeat reports. The brokerage currently has a $30.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $20.00. Piper Sandler’s price target would indicate a potential upside of 12.78% from the stock’s current price.

A number of other analysts have also recently commented on XNCR. Royal Bank of Canada upped their price objective on Xencor from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Wedbush reiterated an “outperform” rating and issued a $38.00 price objective on shares of Xencor in a research note on Thursday, November 7th. BMO Capital Markets reissued an “outperform” rating and issued a $34.00 price objective (up previously from $32.00) on shares of Xencor in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of Xencor from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $36.50.

Xencor Stock Performance

Shares of NASDAQ XNCR opened at $26.60 on Monday. The firm’s 50-day moving average price is $22.19 and its 200-day moving average price is $20.56. Xencor has a 52-week low of $15.31 and a 52-week high of $27.20. The company has a market cap of $1.86 billion, a PE ratio of -8.31 and a beta of 0.69. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 0.01.

Xencor (NASDAQ:XNCR) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.98) by $0.27. The company had revenue of $10.70 million for the quarter, compared to analysts’ expectations of $14.59 million. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The firm’s quarterly revenue was down 81.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.40) earnings per share. As a group, analysts anticipate that Xencor will post -3.71 EPS for the current year.

Insider Transactions at Xencor

In other Xencor news, VP John R. Desjarlais sold 68,684 shares of Xencor stock in a transaction on Monday, November 11th. The shares were sold at an average price of $23.48, for a total value of $1,612,700.32. Following the completion of the transaction, the vice president now directly owns 200,104 shares of the company’s stock, valued at $4,698,441.92. This trade represents a 25.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Bassil I. Dahiyat sold 3,366 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $24.02, for a total transaction of $80,851.32. Following the transaction, the chief executive officer now owns 352,615 shares in the company, valued at $8,469,812.30. This trade represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 121,328 shares of company stock valued at $2,879,673 over the last three months. Corporate insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Xencor

Several hedge funds have recently bought and sold shares of XNCR. Panagora Asset Management Inc. raised its holdings in Xencor by 9.4% in the second quarter. Panagora Asset Management Inc. now owns 232,375 shares of the biopharmaceutical company’s stock worth $4,399,000 after purchasing an additional 20,043 shares in the last quarter. Primecap Management Co. CA boosted its stake in shares of Xencor by 0.3% during the 2nd quarter. Primecap Management Co. CA now owns 9,116,202 shares of the biopharmaceutical company’s stock worth $172,570,000 after acquiring an additional 25,495 shares in the last quarter. AQR Capital Management LLC purchased a new stake in Xencor in the 2nd quarter worth $753,000. Dimensional Fund Advisors LP boosted its stake in shares of Xencor by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,459,427 shares of the biopharmaceutical company’s stock worth $27,628,000 after acquiring an additional 87,979 shares during the last quarter. Finally, Essex LLC purchased a new stake in shares of Xencor in the third quarter valued at approximately $2,668,000.

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.