Xencor (NASDAQ:XNCR) Sets New 52-Week High – Should You Buy?

Xencor, Inc. (NASDAQ:XNCR) reached a new 52-week high on Tuesday . The company traded as high as $20.26 and last traded at $18.81, with a volume of 2862329 shares traded. The stock had previously closed at $17.47.

Analyst Ratings Changes

XNCR has been the subject of several recent research reports. Truist Financial cut their price objective on Xencor from $29.00 to $27.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Xencor in a research note on Wednesday, June 24th. Zacks Research raised Xencor from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. JPMorgan Chase & Co. raised their price target on Xencor from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Finally, Wall Street Zen lowered Xencor from a “hold” rating to a “strong sell” rating in a report on Saturday, May 9th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $24.25.

Xencor Stock Performance

The company’s 50 day moving average price is $13.33 and its 200 day moving average price is $12.80. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -8.21 and a beta of 0.86.

Xencor (NASDAQ:XNCR) last released its quarterly earnings results 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 business had revenue of $4.52 million for the quarter, compared to the consensus estimate of $27.86 million. During the same quarter in the prior year, the business posted ($0.66) EPS. The firm’s revenue for the quarter was down 86.2% compared to the same quarter last year. On average, equities research analysts forecast that Xencor, Inc. will post -3.88 EPS for the current fiscal year.

Institutional Trading of Xencor

A number of institutional investors and hedge funds have recently made changes to their positions in XNCR. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Xencor during the 4th quarter worth about $81,000. Tower Research Capital LLC TRC raised its stake in shares of Xencor by 118.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company’s stock valued at $44,000 after acquiring an additional 3,018 shares in the last quarter. E Fund Management Co. Ltd. bought a new position in shares of Xencor in the 2nd quarter valued at approximately $79,000. NorthCrest Asset Manangement LLC acquired a new stake in Xencor in the 4th quarter worth approximately $149,000. Finally, Norges Bank bought a new stake in Xencor during the fourth quarter worth approximately $175,000.

About Xencor

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.