Xencor (NASDAQ:XNCR) Given Outperform Rating at Wedbush

Xencor (NASDAQ:XNCR)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a report released on Thursday,Benzinga reports. They currently have a $26.00 price objective on the biopharmaceutical company’s stock. Wedbush’s price objective suggests a potential upside of 30.42% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Zacks Research upgraded Xencor from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Truist Financial reduced their price objective on shares of Xencor from $29.00 to $27.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Wall Street Zen downgraded shares of Xencor from a “hold” rating to a “strong sell” rating in a report on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xencor in a research note on Wednesday, June 24th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Xencor from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Xencor currently has a consensus rating of “Moderate Buy” and an average price target of $24.25.

Xencor Stock Performance

XNCR opened at $19.94 on Thursday. The company has a market cap of $1.48 billion, a PE ratio of -8.65 and a beta of 0.86. The stock has a 50-day moving average of $14.48 and a 200-day moving average of $13.05. Xencor has a 52-week low of $6.92 and a 52-week high of $21.26.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($1.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.96). Xencor had a negative net margin of 177.10% and a negative return on equity of 28.77%. The company had revenue of $4.52 million during the quarter, compared to the consensus estimate of $27.86 million. During the same period in the previous year, the business posted ($0.66) earnings per share. The firm’s revenue was down 86.2% on a year-over-year basis. On average, research analysts predict that Xencor will post -3.88 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of XNCR. BVF Inc. IL grew its stake in shares of Xencor by 160.3% in the fourth quarter. BVF Inc. IL now owns 7,133,720 shares of the biopharmaceutical company’s stock worth $109,217,000 after acquiring an additional 4,393,579 shares during the last quarter. Legal & General Group Plc boosted its holdings in Xencor by 603.7% in the 3rd quarter. Legal & General Group Plc now owns 1,273,000 shares of the biopharmaceutical company’s stock valued at $14,932,000 after purchasing an additional 1,092,095 shares during the period. State Street Corp boosted its holdings in Xencor by 22.7% in the 4th quarter. State Street Corp now owns 4,507,254 shares of the biopharmaceutical company’s stock valued at $69,006,000 after purchasing an additional 833,423 shares during the period. Jefferies Financial Group Inc. grew its position in Xencor by 620.4% in the 4th quarter. Jefferies Financial Group Inc. now owns 720,440 shares of the biopharmaceutical company’s stock worth $11,030,000 after purchasing an additional 620,440 shares during the last quarter. Finally, RTW Investments LP increased its holdings in shares of Xencor by 8.9% during the 4th quarter. RTW Investments LP now owns 6,777,461 shares of the biopharmaceutical company’s stock worth $103,763,000 after purchasing an additional 556,407 shares during the period.

Xencor Company Profile

Xencor, Inc is a clinical-stage biopharmaceutical company focused on the design and development of engineered protein therapeutics for the treatment of autoimmune diseases, cancer and neurological disorders. The company applies its proprietary XmAb® platform to manipulate antibody structure and function, creating molecules with enhanced immune engagement and extended half-life. Xencor’s research programs span a range of therapeutic modalities, including monoclonal antibodies, bispecific antibodies and cytokine-based fusion proteins.

The XmAb® platform enables precise modification of the Fc region to augment key properties such as receptor binding, effector function and pharmacokinetics.