Xencor (NASDAQ:XNCR) Posts Quarterly Earnings Results, Beats Expectations By $0.51 EPS

Xencor (NASDAQ:XNCR) announced its quarterly earnings results on Wednesday. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.51, Zacks reports. Xencor had a negative net margin of 177.10% and a negative return on equity of 28.77%. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.41) earnings per share.

Xencor Trading Down 0.4%

NASDAQ XNCR traded down $0.08 during trading hours on Wednesday, reaching $19.84. 823,253 shares of the company’s stock were exchanged, compared to its average volume of 842,667. The firm has a fifty day moving average of $15.19 and a 200-day moving average of $13.22. Xencor has a one year low of $6.92 and a one year high of $21.76. The stock has a market cap of $1.47 billion, a PE ratio of -8.66 and a beta of 0.85.

Hedge Funds Weigh In On Xencor

A number of institutional investors and hedge funds have recently bought and sold shares of XNCR. Tower Research Capital LLC TRC grew its holdings in shares of Xencor by 118.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 3,018 shares during the last quarter. E Fund Management Co. Ltd. bought a new position in shares of Xencor in the second quarter valued at about $79,000. iSAM Funds UK Ltd acquired a new position in Xencor during the 2nd quarter worth about $122,000. Prelude Capital Management LLC acquired a new position in Xencor during the 3rd quarter worth about $139,000. Finally, Creative Planning lifted its position in Xencor by 25.3% during the 2nd quarter. Creative Planning now owns 18,130 shares of the biopharmaceutical company’s stock worth $143,000 after buying an additional 3,661 shares in the last quarter.

Analysts Set New Price Targets

XNCR has been the subject of several analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Xencor in a research report on Wednesday, June 24th. JPMorgan Chase & Co. increased their price objective on Xencor from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Wedbush reissued an “outperform” rating and set a $26.00 price objective on shares of Xencor in a report on Thursday, July 30th. Wall Street Zen downgraded shares of Xencor from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 9th. Finally, Truist Financial lowered their target price on shares of Xencor from $29.00 to $27.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.25.

About Xencor

Xencor, Inc is a clinical-stage biopharmaceutical company focused on the design and development of engineered protein therapeutics for the treatment of autoimmune diseases, cancer and neurological disorders. The company applies its proprietary XmAb® platform to manipulate antibody structure and function, creating molecules with enhanced immune engagement and extended half-life. Xencor’s research programs span a range of therapeutic modalities, including monoclonal antibodies, bispecific antibodies and cytokine-based fusion proteins.

The XmAb® platform enables precise modification of the Fc region to augment key properties such as receptor binding, effector function and pharmacokinetics.