Xencor (NASDAQ:XNCR) Given New $36.00 Price Target at Wedbush

Xencor (NASDAQ:XNCR) had its price objective lifted by stock analysts at Wedbush from $34.00 to $36.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. Wedbush’s target price would suggest a potential upside of 56.86% from the company’s previous close.

Several other analysts also recently issued reports on XNCR. Mizuho reduced their price target on Xencor from $59.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, January 22nd. BMO Capital Markets dropped their price target on shares of Xencor from $38.00 to $34.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Piper Sandler reaffirmed a “neutral” rating and issued a $24.00 price objective (down from $37.00) on shares of Xencor in a report on Wednesday, February 28th. Royal Bank of Canada restated an “outperform” rating and set a $32.00 target price on shares of Xencor in a research note on Wednesday, February 28th. Finally, StockNews.com upgraded shares of Xencor from a “sell” rating to a “hold” rating in a research report on Saturday, March 9th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.25.

Xencor Stock Performance

Shares of XNCR stock traded down $0.59 on Friday, reaching $22.95. The stock had a trading volume of 188,514 shares, compared to its average volume of 695,902. Xencor has a 12 month low of $16.49 and a 12 month high of $28.96. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -11.02 and a beta of 0.77. The firm’s 50-day moving average is $21.84 and its two-hundred day moving average is $20.62.

Xencor (NASDAQ:XNCR) last released its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($1.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.28). The company had revenue of $12.80 million for the quarter, compared to the consensus estimate of $23.07 million. Xencor had a negative return on equity of 18.67% and a negative net margin of 74.90%. The company’s revenue for the quarter was down 32.3% compared to the same quarter last year. During the same period last year, the firm earned ($1.02) earnings per share. On average, research analysts expect that Xencor will post -3.25 EPS for the current fiscal year.

Insider Transactions at Xencor

In related news, VP John R. Desjarlais sold 1,280 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $23.50, for a total transaction of $30,080.00. Following the completion of the sale, the vice president now owns 186,433 shares in the company, valued at $4,381,175.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, VP John R. Desjarlais sold 54,108 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $19.38, for a total transaction of $1,048,613.04. Following the completion of the transaction, the vice president now owns 161,675 shares in the company, valued at approximately $3,133,261.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John R. Desjarlais sold 1,280 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $23.50, for a total transaction of $30,080.00. Following the transaction, the vice president now directly owns 186,433 shares of the company’s stock, valued at approximately $4,381,175.50. The disclosure for this sale can be found here. Insiders sold a total of 101,351 shares of company stock valued at $2,152,417 over the last ninety days. 5.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. abrdn plc bought a new stake in shares of Xencor in the 4th quarter worth approximately $3,726,000. State of New Jersey Common Pension Fund D increased its position in shares of Xencor by 24.8% during the third quarter. State of New Jersey Common Pension Fund D now owns 110,353 shares of the biopharmaceutical company’s stock valued at $2,224,000 after buying an additional 21,946 shares during the period. Hudson Bay Capital Management LP raised its stake in Xencor by 144.7% in the third quarter. Hudson Bay Capital Management LP now owns 232,500 shares of the biopharmaceutical company’s stock worth $4,685,000 after buying an additional 137,500 shares in the last quarter. Deutsche Bank AG boosted its position in Xencor by 13.0% during the 3rd quarter. Deutsche Bank AG now owns 33,098 shares of the biopharmaceutical company’s stock valued at $667,000 after acquiring an additional 3,805 shares in the last quarter. Finally, Diversified Trust Co bought a new position in shares of Xencor in the 4th quarter worth about $265,000.

Xencor Company Profile

Xencor, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of engineered monoclonal antibody and cytokine therapeutics to treat patients with cancer and autoimmune diseases. The company provides Sotrovimab that targets the SARS-CoV-2 virus; Ultomiris for the treatment of patients with paroxysmal nocturnal hemoglobinuria and atypical hemolytic uremic syndrome; and Monjuvi for the treatment of patients with relapsed or refractory diffuse large B-cell lymphoma.