Xencor (NASDAQ:XNCR) Price Target Raised to $26.00

Xencor (NASDAQ:XNCR) had its price target upped by Bank of America from $20.00 to $26.00 in a research report report published on Monday,Benzinga reports. Bank of America currently has a neutral rating on the biopharmaceutical company’s stock.

XNCR has been the topic of several other research reports. JPMorgan Chase & Co. lifted their price target on shares of Xencor from $14.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, September 3rd. Barclays lifted their target price on shares of Xencor from $27.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, September 11th. Raymond James Financial increased their price target on shares of Xencor from $40.00 to $46.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 1st. Truist Financial lowered their price objective on shares of Xencor from $29.00 to $27.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Xencor in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.12.

Xencor Price Performance

XNCR opened at $24.26 on Monday. Xencor has a one year low of $10.24 and a one year high of $30.61. The business has a 50 day simple moving average of $23.47 and a two-hundred day simple moving average of $16.49. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -11.18 and a beta of 0.88.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) earnings per share 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 firm had revenue of $51.22 million for the quarter, compared to analyst estimates of $18.89 million. During the same period last year, the company earned ($0.41) EPS. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. As a group, sell-side analysts expect that Xencor will post -3.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Xencor

Several large investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Xencor in the second quarter worth about $219,785,000. Primecap Management Co. CA purchased a new stake in shares of Xencor during the second quarter valued at approximately $163,919,000. BVF Inc. IL grew its holdings 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 increased its position in shares of Xencor by 2.8% during the fourth quarter. Legal & General Group Plc now owns 1,308,088 shares of the biopharmaceutical company’s stock valued at $20,027,000 after acquiring an additional 35,088 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Xencor by 3.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,294,887 shares of the biopharmaceutical company’s stock worth $15,613,000 after acquiring an additional 45,599 shares during the last quarter.

Xencor Company Profile

Xencor, Inc is a clinical-stage biopharmaceutical company that develops engineered antibodies and cytokine therapeutics for the treatment of cancer, autoimmune diseases and other serious medical conditions. The company’s platform is designed to modify antibody properties, including immune-system activation, half-life and biological activity, to create differentiated therapeutic candidates.

Xencor’s proprietary XmAb technology supports its internal research programs and collaborations with other biopharmaceutical companies.