Xencor (NASDAQ:XNCR) Rating Lowered to Strong Sell at Zacks Investment Research

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Xencor (NASDAQ:XNCR) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Sunday, Zacks.com reports.

According to Zacks, “Xencor Inc. is a clinical-stage biopharmaceutical company. It develops antibodies for the treatment of autoimmune diseases, asthma and allergic diseases, and cancer. Xencor Inc. is based in Monrovia, California. “

Other equities analysts also recently issued reports about the stock. BidaskClub raised shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, June 20th. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Piper Jaffray Companies set a $92.00 target price on shares of Wintrust Financial and gave the stock a “buy” rating in a research report on Monday, July 8th. Berenberg Bank lowered their target price on shares of Lucara Diamond from C$1.60 to C$1.50 in a research report on Wednesday, March 27th. Finally, Guggenheim downgraded shares of Anadarko Petroleum from a “buy” rating to a “hold” rating and set a $69.00 target price on the stock. in a research report on Friday, April 12th. Three research analysts have rated the stock with a sell rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $43.44.

Xencor stock opened at $44.02 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.66 and a quick ratio of 6.66. The firm has a market capitalization of $2.50 billion, a P/E ratio of -33.60 and a beta of 1.45. Xencor has a one year low of $27.75 and a one year high of $48.38. The stock’s fifty day simple moving average is $36.73.

Xencor (NASDAQ:XNCR) last posted its earnings results on Thursday, May 9th. The biopharmaceutical company reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.95. The business had revenue of $111.94 million for the quarter, compared to analyst estimates of $60.05 million. Equities research analysts forecast that Xencor will post -0.08 EPS for the current year.

In other news, major shareholder John S. Stafford III purchased 14,611 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was bought at an average cost of $29.87 per share, for a total transaction of $436,430.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder John S. Stafford III purchased 12,641 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were purchased at an average price of $29.87 per share, with a total value of $377,586.67. The disclosure for this purchase can be found here. 4.33% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System acquired a new stake in Xencor in the 2nd quarter valued at $794,000. First Trust Advisors LP increased its stake in Xencor by 185.4% in the 1st quarter. First Trust Advisors LP now owns 69,783 shares of the biopharmaceutical company’s stock valued at $2,167,000 after buying an additional 45,331 shares during the last quarter. Marshall Wace LLP acquired a new stake in Xencor in the 1st quarter valued at $797,000. DekaBank Deutsche Girozentrale increased its stake in Xencor by 22.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 18,200 shares of the biopharmaceutical company’s stock valued at $765,000 after buying an additional 3,300 shares during the last quarter. Finally, Shell Asset Management Co. acquired a new stake in Xencor in the 1st quarter valued at $145,000. Institutional investors own 83.49% of the company’s stock.

About Xencor

Xencor, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of engineered monoclonal antibody and other protein therapeutics to treat severe and life threatening diseases with unmet medical needs. It develops its antibody product candidates to treat autoimmune and allergic diseases, cancer, and other conditions.

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