Xencor (NASDAQ:XNCR) Price Target Raised to $26.00

Xencor (NASDAQ:XNCR) had its price objective boosted by equities research analysts at Bank of America from $20.00 to $26.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the biopharmaceutical company’s stock. Bank of America‘s target price would indicate a potential upside of 4.78% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Wedbush lifted their price target on shares of Xencor from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. increased their price objective 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. Raymond James Financial raised their price objective on Xencor from $40.00 to $46.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 1st. Wall Street Zen raised Xencor from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Cantor Fitzgerald upped their target price on Xencor from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Xencor presently has a consensus rating of “Moderate Buy” and an average price target of $31.12.

Xencor Price Performance

Shares of XNCR traded up $0.10 during mid-day trading on Monday, hitting $24.82. 484,082 shares of the company’s stock were exchanged, compared to its average volume of 945,024. Xencor has a 52 week low of $10.05 and a 52 week high of $30.61. The company has a market cap of $1.84 billion, a PE ratio of -11.44 and a beta of 0.88. The company has a 50-day simple moving average of $22.88 and a 200 day simple moving average of $16.22.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.51. Xencor had a negative net margin of 155.59% and a negative return on equity of 28.66%. The business had revenue of $51.22 million for the quarter, compared to analyst estimates of $18.89 million. During the same quarter in the previous year, the firm posted ($0.41) earnings per share. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, analysts anticipate that Xencor will post -3.05 earnings per share for the current year.

Institutional Investors Weigh In On Xencor

Several hedge funds have recently bought and sold shares of the stock. Johnson & Johnson bought a new stake in Xencor in the 2nd quarter valued at about $12,043,798. Hsbc Holdings PLC increased its holdings in shares of Xencor by 114.2% during the second quarter. Hsbc Holdings PLC now owns 125,482 shares of the biopharmaceutical company’s stock worth $2,083,000 after purchasing an additional 66,903 shares during the period. Jefferies Financial Group Inc. increased its holdings in shares of Xencor by 620.4% during the fourth quarter. Jefferies Financial Group Inc. now owns 720,440 shares of the biopharmaceutical company’s stock worth $11,030,000 after purchasing an additional 620,440 shares during the period. Seven Fleet Capital Management LP acquired a new stake in shares of Xencor in the second quarter valued at approximately $7,828,524,000. Finally, Primecap Management Co. CA acquired a new stake in shares of Xencor in the second quarter valued at approximately $163,919,000.

About Xencor

Xencor, Inc is a clinical-stage biopharmaceutical company that develops engineered antibodies and cytokine therapeutics for the treatment of cancer, autoimmune diseases and other serious medical conditions. The company’s platform is designed to modify antibody properties, including immune-system activation, half-life and biological activity, to create differentiated therapeutic candidates.

Xencor’s proprietary XmAb technology supports its internal research programs and collaborations with other biopharmaceutical companies.