Xencor (NASDAQ:XNCR) Posts Earnings Results, Beats Estimates By $0.51 EPS

Xencor (NASDAQ:XNCR) released its quarterly earnings data on Wednesday. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.51, Zacks reports. Xencor had a negative net margin of 155.59% and a negative return on equity of 27.58%. The company had revenue of $51.22 million for the quarter, compared to analysts’ expectations of $18.89 million. During the same quarter last year, the company earned ($0.41) earnings per share. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis.

Xencor Trading Up 0.8%

Shares of Xencor stock opened at $20.00 on Friday. Xencor has a twelve month low of $6.92 and a twelve month high of $21.96. The company has a fifty day moving average price of $15.52 and a 200 day moving average price of $13.32. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of -9.22 and a beta of 0.85.

Analyst Ratings Changes

XNCR has been the subject of a number of research analyst reports. Truist Financial decreased their target price on Xencor from $29.00 to $27.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Zacks Research upgraded Xencor from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. JPMorgan Chase & Co. raised their price objective on shares of Xencor from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Wedbush boosted their target price on Xencor from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Xencor in a research report on Wednesday, June 24th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $24.86.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its stake in Xencor by 118.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company’s stock valued at $44,000 after purchasing an additional 3,018 shares in the last quarter. E Fund Management Co. Ltd. bought a new stake in shares of Xencor in the 2nd quarter worth approximately $79,000. iSAM Funds UK Ltd bought a new stake in Xencor in the second quarter valued at $122,000. Prelude Capital Management LLC acquired a new position in Xencor during the 3rd quarter valued at about $139,000. Finally, Creative Planning grew its holdings in Xencor by 25.3% in the 2nd quarter. Creative Planning now owns 18,130 shares of the biopharmaceutical company’s stock worth $143,000 after buying an additional 3,661 shares in the last quarter.

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.