Xencor (NASDAQ:XNCR) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Xencor (NASDAQ:XNCR) from a strong sell rating to a hold rating in a research report report published on Monday morning,Zacks.com reports.

Several other research firms also recently commented on XNCR. JPMorgan Chase & Co. raised their price objective on Xencor from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Wall Street Zen cut shares of Xencor from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Xencor in a report on Wednesday, June 24th. Finally, Truist Financial lowered their price objective on shares of Xencor from $29.00 to $27.00 and set a “buy” rating for the company in a research note on Tuesday. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.25.

Xencor Price Performance

Xencor stock opened at $15.67 on Monday. The firm has a market capitalization of $1.16 billion, a P/E ratio of -6.84 and a beta of 0.86. The company’s 50-day moving average is $12.69 and its 200 day moving average is $12.76. Xencor has a 1-year low of $6.92 and a 1-year high of $18.69.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($1.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.96). Xencor had a negative return on equity of 28.77% and a negative net margin of 177.10%.The business had revenue of $4.52 million for the quarter, compared to the consensus estimate of $27.86 million. During the same period in the prior year, the business posted ($0.66) earnings per share. Xencor’s revenue was down 86.2% on a year-over-year basis. Research analysts anticipate that Xencor will post -3.84 earnings per share for the current fiscal year.

Institutional Trading of Xencor

Large investors have recently made changes to their positions in the company. ProShare Advisors LLC grew its holdings in shares of Xencor by 6.5% during the fourth quarter. ProShare Advisors LLC now owns 16,853 shares of the biopharmaceutical company’s stock worth $258,000 after buying an additional 1,026 shares in the last quarter. Cerity Partners LLC increased its stake in Xencor by 3.8% during the fourth quarter. Cerity Partners LLC now owns 31,302 shares of the biopharmaceutical company’s stock worth $479,000 after acquiring an additional 1,143 shares during the last quarter. State of Tennessee Department of Treasury raised its holdings in Xencor by 6.2% in the 2nd quarter. State of Tennessee Department of Treasury now owns 30,721 shares of the biopharmaceutical company’s stock valued at $241,000 after buying an additional 1,784 shares during the period. Diversified Trust Co. raised its stake in shares of Xencor by 13.8% in the 4th quarter. Diversified Trust Co. now owns 18,442 shares of the biopharmaceutical company’s stock valued at $282,000 after acquiring an additional 2,242 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its position in Xencor by 3.3% in the second quarter. CANADA LIFE ASSURANCE Co now owns 70,015 shares of the biopharmaceutical company’s stock valued at $550,000 after purchasing an additional 2,256 shares during the period.

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.