Analysts Set Xencor, Inc. (NASDAQ:XNCR) Price Target at $35.75

Shares of Xencor, Inc. (NASDAQ:XNCR) have received an average recommendation of “Buy” from the eight brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $35.75.

XNCR has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price objective on Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Royal Bank of Canada raised their price target on Xencor from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Wedbush reaffirmed an “outperform” rating and set a $38.00 price target on shares of Xencor in a research report on Thursday, November 7th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $34.00 price objective (up previously from $32.00) on shares of Xencor in a report on Friday, November 8th.

Xencor Trading Up 3.8 %

NASDAQ:XNCR opened at $25.01 on Wednesday. The company has a market cap of $1.75 billion, a P/E ratio of -7.55 and a beta of 0.66. Xencor has a twelve month low of $15.31 and a twelve month high of $26.84. The business has a 50 day moving average price of $21.40 and a two-hundred day moving average price of $20.41. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 0.01.

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

Insider Transactions at Xencor

In other news, CEO Bassil I. Dahiyat sold 3,366 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $24.02, for a total value of $80,851.32. Following the transaction, the chief executive officer now owns 352,615 shares of the company’s stock, valued at approximately $8,469,812.30. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John R. Desjarlais sold 68,684 shares of Xencor stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $23.48, for a total value of $1,612,700.32. Following the sale, the vice president now directly 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. 5.23% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of Xencor in the second quarter valued at about $36,000. KBC Group NV grew its position in shares of Xencor by 63.5% during the 3rd quarter. KBC Group NV now owns 3,123 shares of the biopharmaceutical company’s stock worth $63,000 after purchasing an additional 1,213 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Xencor during the 2nd quarter worth approximately $154,000. Acadian Asset Management LLC bought a new position in shares of Xencor during the first quarter worth approximately $206,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of Xencor in the third quarter valued at approximately $205,000.

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.