Xencor, Inc. (NASDAQ:XNCR) Stock Has Consensus Target Price of $34.00 According to Analysts

Shares of Xencor, Inc. (NASDAQ:XNCR) have earned a consensus rating of “Moderate Buy” from the eleven analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $39.33.

A number of analysts recently issued reports on XNCR shares. Bank of America boosted their price target on Xencor from $20.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, September 21st. Royal Bank Of Canada raised their price objective on Xencor from $20.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday. Wedbush raised their price objective on Xencor from $30.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday. Cantor Fitzgerald lifted their target price on Xencor from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Finally, Barclays set a $45.00 target price on Xencor and gave the stock an “overweight” rating in a report on Monday.

Hedge Funds Weigh In On Xencor

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Xencor in the second quarter worth about $219,785,000. Primecap Management Co. CA purchased a new position in Xencor during the 2nd quarter valued at about $163,919,000. Legal & General Group Plc purchased a new position in Xencor during the 2nd quarter valued at about $17,568,000. Johnson & Johnson purchased a new position in Xencor during the 2nd quarter valued at about $12,043,798. Finally, Jefferies Financial Group Inc. purchased a new position in Xencor during the 2nd quarter valued at about $11,599,000.

Trending Headlines about Xencor

Here are the key news stories impacting Xencor this week:

• Positive Sentiment: Updated Phase 1 data for XmAb819 showed a reported 45.5% response rate in heavily pretreated ccRCC patients, with coverage describing the antitumor activity as “impressive,” “unprecedented” and “profound.” Xencor plans to advance the program toward a late-stage trial. Xencor Reveals Updated Phase 1 XmAb819 Data and Projects Cash Runway Through 2029
• Positive Sentiment: The company said its cash resources are expected to fund operations through 2029, reducing near-term financing concerns as it develops XmAb819 and other pipeline programs. Cash Runway and Updated Data
• Positive Sentiment: Analyst sentiment strengthened following the data. Wedbush raised its price target from $30 to $45 and maintained an Outperform rating, while RBC increased its target from $20 to $43 and retained Outperform, though it continues to flag speculative risk. Wedbush Analyst Recommendation RBC Raises Price Target
• Neutral Sentiment: The response data are from a Phase 1 study, so durability, safety, comparative efficacy and confirmation in larger controlled trials remain important uncertainties. The stock is now near its 12-month high after a sharp rally, increasing sensitivity to follow-up data and profit-taking.
• Negative Sentiment: Xencor remains unprofitable, and analysts expect a loss for the full year. XmAb819’s potential FDA accelerated-approval pathway is not guaranteed; disappointing safety or efficacy results could weigh heavily on the shares.

Xencor Trading Up 2.8%

Shares of XNCR opened at $29.99 on Wednesday. Xencor has a 1-year low of $10.38 and a 1-year high of $33.60. The company has a 50-day moving average of $25.56 and a 200 day moving average of $16.73.

Xencor (NASDAQ:XNCR) last issued 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. The company had revenue of $51.22 million during the quarter, compared to the consensus estimate of $18.89 million. Xencor’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.41) earnings per share. Equities research analysts predict that Xencor will post -3.05 EPS for the current year.

Xencor Company Profile

Xencor, Inc is a clinical-stage biopharmaceutical company headquartered in Monrovia, California. Founded in 1997, the company develops engineered antibodies and other biologic medicines for the treatment of cancer, autoimmune disorders and other serious diseases.

Xencor’s research is centered on its XmAb technology platform, which is designed to modify antibodies to improve their therapeutic properties or create new antibody-based mechanisms. The platform supports the development of bispecific antibodies, immune-cell engagers and antibodies with extended activity in the body.