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

Shares of Xencor, Inc. (NASDAQ:XNCR) have received a consensus recommendation of “Buy” from the nine brokerages that are covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $36.56.

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $34.00 target price (up from $32.00) on shares of Xencor in a report on Friday, November 8th. Piper Sandler raised Xencor from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $20.00 to $30.00 in a research note on Monday, December 2nd. Wells Fargo & Company began coverage on Xencor in a report on Thursday, December 12th. They issued an “overweight” rating and a $37.00 price target on the stock. Finally, Royal Bank of Canada lifted their price objective on Xencor from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th.

Xencor Stock Performance

NASDAQ XNCR opened at $23.43 on Thursday. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -7.32 and a beta of 0.72. The business’s 50 day moving average is $24.09 and its two-hundred day moving average is $20.94. Xencor has a 12-month low of $15.31 and a 12-month high of $27.24. 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 (NASDAQ:XNCR) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.27. The firm had revenue of $10.70 million for the quarter, compared to analyst estimates of $14.59 million. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. Xencor’s quarterly revenue was down 81.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.40) earnings per share. Research analysts expect that Xencor will post -3.71 EPS for the current year.

Insider Activity at Xencor

In other news, CEO Bassil I. Dahiyat sold 49,278 shares of Xencor stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 352,615 shares in the company, valued at $8,487,443.05. The trade was a 12.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alan Bruce Montgomery sold 1,421 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $27.03, for a total transaction of $38,409.63. Following the transaction, the director now directly owns 9,140 shares in the company, valued at $247,054.20. The trade was a 13.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 136,050 shares of company stock valued at $3,277,609. 5.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in Xencor by 31.0% in the 4th quarter. GAMMA Investing LLC now owns 2,147 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 508 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Xencor by 2.9% in the third quarter. JPMorgan Chase & Co. now owns 130,354 shares of the biopharmaceutical company’s stock worth $2,621,000 after acquiring an additional 3,635 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Xencor in the third quarter valued at approximately $540,000. Geode Capital Management LLC increased its position in Xencor by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,455,350 shares of the biopharmaceutical company’s stock worth $29,273,000 after purchasing an additional 17,658 shares during the last quarter. Finally, Barclays PLC raised its stake in Xencor by 100.7% during the third quarter. Barclays PLC now owns 155,568 shares of the biopharmaceutical company’s stock worth $3,128,000 after purchasing an additional 78,066 shares during the period.

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.