Wall Street Zen Upgrades Xencor (NASDAQ:XNCR) to “Buy”

Xencor (NASDAQ:XNCR) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other analysts also recently issued reports on XNCR. Barclays set a $45.00 price objective on Xencor and gave the stock an “overweight” rating in a research report on Monday, October 26th. Bank of America boosted their price objective on shares of Xencor from $20.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, September 21st. Raymond James Financial upped their target price on shares of Xencor from $40.00 to $46.00 and gave the company a “strong-buy” rating in a research report on Tuesday, September 1st. Wedbush increased their target price on shares of Xencor from $30.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 27th. Finally, JPMorgan Chase & Co. increased their target price on shares of Xencor from $14.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.22.

Xencor Price Performance

XNCR stock opened at $35.75 on Friday. Xencor has a 52-week low of $10.38 and a 52-week high of $36.50. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of -22.48 and a beta of 0.78. The business has a fifty day moving average of $26.17 and a two-hundred day moving average of $17.46.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings results on Wednesday, November 4th. The biopharmaceutical company reported $0.50 EPS for the quarter, beating the consensus estimate of ($0.33) by $0.83. Xencor had a negative return on equity of 21.28% and a negative net margin of 58.79%. The business had revenue of $116.52 million for the quarter, compared to analyst estimates of $63.00 million. During the same quarter in the prior year, the company posted ($0.08) EPS. The company’s quarterly revenue was up 453.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Xencor will post -2.85 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in XNCR. Integrated Wealth Concepts LLC purchased a new stake in shares of Xencor in the 2nd quarter valued at $30,000. Allworth Financial LP purchased a new position in Xencor during the 2nd quarter valued at about $55,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Xencor during the 3rd quarter valued at about $95,000. GAMMA Investing LLC boosted its holdings in Xencor by 15.5% during the 3rd quarter. GAMMA Investing LLC now owns 4,269 shares of the biopharmaceutical company’s stock valued at $107,000 after acquiring an additional 572 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. grew its position in Xencor by 31.0% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 5,804 shares of the biopharmaceutical company’s stock valued at $145,000 after acquiring an additional 1,373 shares in the last quarter.

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.