Xencor, Inc. (NASDAQ:XNCR) Given Consensus Rating of “Buy” by Analysts

Shares of Xencor, Inc. (NASDAQ:XNCR) have been assigned a consensus rating of “Buy” from the nine brokerages that are presently covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $36.56.

Several brokerages have recently weighed in on XNCR. Wells Fargo & Company began coverage on Xencor in a research report on Thursday, December 12th. They set an “overweight” rating and a $37.00 price target on the stock. Piper Sandler raised shares of Xencor from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $20.00 to $30.00 in a research note on Monday, December 2nd. BMO Capital Markets reiterated an “outperform” rating and issued a $34.00 target price (up from $32.00) on shares of Xencor in a research note on Friday, November 8th. Wedbush restated an “outperform” rating and set a $38.00 price target on shares of Xencor in a research report on Thursday, November 7th. Finally, Royal Bank of Canada upped their price target on shares of Xencor from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th.

Xencor Stock Up 0.5 %

Xencor stock opened at $24.13 on Friday. The firm has a 50 day simple moving average of $23.46 and a 200 day simple moving average of $20.68. The company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 0.01. Xencor has a 1-year low of $15.31 and a 1-year high of $27.24. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of -7.54 and a beta of 0.69.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, beating the consensus estimate of ($0.98) by $0.27. The company had revenue of $10.70 million during the quarter, compared to analysts’ expectations of $14.59 million. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. The firm’s quarterly revenue was down 81.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.40) earnings per share. On average, analysts predict that Xencor will post -3.71 earnings per share for the current year.

Insider Transactions at Xencor

In other Xencor news, CEO Bassil I. Dahiyat sold 49,278 shares of Xencor stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $24.07, for a total transaction of $1,186,121.46. Following the transaction, the chief executive officer now directly owns 352,615 shares of the company’s stock, valued at approximately $8,487,443.05. This trade represents a 12.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP John R. Desjarlais sold 68,684 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $23.48, for a total transaction of $1,612,700.32. Following the completion of the sale, the vice president now owns 200,104 shares of the company’s stock, valued at approximately $4,698,441.92. The trade was a 25.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 136,050 shares of company stock valued at $3,277,609. Insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Xencor

A number of large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in shares of Xencor during the second quarter valued at about $154,000. Louisiana State Employees Retirement System boosted its holdings in Xencor by 3.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 31,000 shares of the biopharmaceutical company’s stock valued at $587,000 after acquiring an additional 900 shares during the period. Baillie Gifford & Co. grew its position in Xencor by 3.3% during the 2nd quarter. Baillie Gifford & Co. now owns 23,530 shares of the biopharmaceutical company’s stock worth $445,000 after acquiring an additional 744 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Xencor by 3.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 500,708 shares of the biopharmaceutical company’s stock worth $9,478,000 after purchasing an additional 15,974 shares during the period. Finally, Panagora Asset Management Inc. lifted its position in Xencor by 9.4% in the second quarter. Panagora Asset Management Inc. now owns 232,375 shares of the biopharmaceutical company’s stock valued at $4,399,000 after purchasing an additional 20,043 shares during the last quarter.

About Xencor

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.