Zacks Investment Research cut shares of Xencor (NASDAQ:XNCR) from a buy rating to a hold rating in a report issued on Tuesday morning.

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. “

Several other research firms also recently commented on XNCR. Canaccord Genuity boosted their price target on shares of Xencor from $38.00 to $45.00 and gave the stock a buy rating in a research note on Wednesday, August 8th. Piper Jaffray Companies restated an overweight rating on shares of Xencor in a research note on Tuesday, August 7th. Cantor Fitzgerald restated a buy rating and issued a $40.00 price target on shares of Xencor in a research note on Tuesday, November 6th. BTIG Research started coverage on shares of Xencor in a research note on Monday, September 10th. They issued a buy rating and a $56.00 price target for the company. Finally, BidaskClub downgraded shares of Xencor from a strong-buy rating to a buy rating in a research note on Tuesday, July 31st. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $42.00.

NASDAQ:XNCR opened at $37.57 on Tuesday. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of -35.78 and a beta of 1.73. Xencor has a 52 week low of $19.50 and a 52 week high of $48.38.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings results on Monday, November 5th. The biopharmaceutical company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.52) by $0.57. The business had revenue of $29.04 million during the quarter. Sell-side analysts forecast that Xencor will post -1.53 EPS for the current year.

In related news, major shareholder John S. Stafford III sold 1,000 shares of the business’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $48.05, for a total transaction of $48,050.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul A. Foster sold 40,000 shares of the business’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $46.03, for a total transaction of $1,841,200.00. Following the transaction, the insider now owns 44,952 shares of the company’s stock, valued at approximately $2,069,140.56. The disclosure for this sale can be found here. Insiders own 4.70% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Legal & General Group Plc grew its stake in shares of Xencor by 136.5% during the third quarter. Legal & General Group Plc now owns 17,211 shares of the biopharmaceutical company’s stock worth $671,000 after purchasing an additional 9,934 shares in the last quarter. Teachers Advisors LLC grew its stake in shares of Xencor by 3.4% during the third quarter. Teachers Advisors LLC now owns 91,034 shares of the biopharmaceutical company’s stock worth $3,548,000 after purchasing an additional 3,015 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Xencor by 105.6% during the third quarter. AQR Capital Management LLC now owns 63,061 shares of the biopharmaceutical company’s stock worth $2,457,000 after purchasing an additional 32,389 shares in the last quarter. MetLife Investment Advisors LLC grew its stake in shares of Xencor by 55.2% during the third quarter. MetLife Investment Advisors LLC now owns 33,234 shares of the biopharmaceutical company’s stock worth $1,295,000 after purchasing an additional 11,814 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Xencor during the third quarter worth $1,461,000. Hedge funds and other institutional investors own 82.23% of the company’s stock.

Xencor Company Profile

Xencor, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of engineered monoclonal antibody 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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