Xencor, Inc. (NASDAQ:XNCR) Receives $24.86 Average Price Target from Brokerages

Shares of Xencor, Inc. (NASDAQ:XNCR) have earned a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $30.7143.

Several research firms recently issued reports on XNCR. Wall Street Zen raised shares of Xencor from a “strong sell” rating to a “hold” rating in a report on Saturday, August 8th. Cantor Fitzgerald lifted their price target on shares of Xencor from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Raymond James Financial upped their price target on shares of Xencor from $40.00 to $46.00 and gave the stock a “strong-buy” rating in a research report on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Xencor in a research note on Wednesday, June 24th. Finally, Royal Bank Of Canada raised their price objective on shares of Xencor from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th.

Institutional Investors Weigh In On Xencor

A number of institutional investors have recently bought and sold shares of XNCR. BlackRock Inc. bought a new position in shares of Xencor in the second quarter worth about $219,785,000. Primecap Management Co. CA purchased a new stake in Xencor during the 2nd quarter valued at approximately $163,919,000. BVF Inc. IL raised its position in shares of Xencor by 160.3% during the fourth quarter. BVF Inc. IL now owns 7,133,720 shares of the biopharmaceutical company’s stock valued at $109,217,000 after buying an additional 4,393,579 shares during the last quarter. Legal & General Group Plc raised its position in shares of Xencor by 603.7% during the third quarter. Legal & General Group Plc now owns 1,273,000 shares of the biopharmaceutical company’s stock valued at $14,932,000 after buying an additional 1,092,095 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Xencor by 22.7% in the fourth quarter. State Street Corp now owns 4,507,254 shares of the biopharmaceutical company’s stock worth $69,006,000 after buying an additional 833,423 shares in the last quarter.

Xencor Price Performance

Shares of Xencor stock opened at $26.62 on Tuesday. The company’s fifty day simple moving average is $20.83 and its 200-day simple moving average is $15.22. The stock has a market capitalization of $1.98 billion, a PE ratio of -12.27 and a beta of 0.88. Xencor has a 1-year low of $8.05 and a 1-year high of $30.61.

Xencor (NASDAQ:XNCR) last announced its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.51. Xencor had a negative return on equity of 28.66% and a negative net margin of 155.59%.The company had revenue of $51.22 million for the quarter, compared to analysts’ expectations of $18.89 million. During the same period last year, the firm earned ($0.41) EPS. Xencor’s revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, research analysts anticipate that Xencor will post -3 EPS for the current year.

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.