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

Shares of Xencor, Inc. (NASDAQ:XNCR) have been given an average rating of “Buy” by the eight analysts that are presently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $34.88.

Several brokerages have recently weighed in on XNCR. BMO Capital Markets reissued an “outperform” rating and issued a $34.00 target price (up previously from $32.00) on shares of Xencor in a research note on Friday, November 8th. Wedbush reissued an “outperform” rating and issued a $38.00 target price on shares of Xencor in a research note on Thursday, November 7th. Wells Fargo & Company began coverage on shares of Xencor in a research note on Thursday, December 12th. They issued an “overweight” rating and a $37.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, Piper Sandler upgraded shares of Xencor from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $20.00 to $30.00 in a report on Monday, December 2nd.

Insider Transactions at Xencor

In other news, Director Alan Bruce Montgomery sold 1,421 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $27.03, for a total value of $38,409.63. Following the sale, the director now directly owns 9,140 shares in the company, valued at approximately $247,054.20. This trade represents a 13.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Bassil I. Dahiyat sold 49,278 shares of the firm’s 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 owns 352,615 shares in the company, valued at $8,487,443.05. This represents a 12.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 136,050 shares of company stock worth $3,277,609. Insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Xencor

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC purchased a new position in shares of Xencor in the 3rd quarter valued at approximately $540,000. Barclays PLC raised its position in shares of Xencor by 100.7% in the 3rd quarter. Barclays PLC now owns 155,568 shares of the biopharmaceutical company’s stock valued at $3,128,000 after purchasing an additional 78,066 shares during the last quarter. AQR Capital Management LLC purchased a new position in Xencor during the 2nd quarter worth approximately $753,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Xencor during the 3rd quarter worth approximately $362,000. Finally, Jane Street Group LLC raised its position in Xencor by 18.6% during the 3rd quarter. Jane Street Group LLC now owns 168,431 shares of the biopharmaceutical company’s stock worth $3,387,000 after buying an additional 26,473 shares during the last quarter.

Xencor Price Performance

Xencor stock opened at $18.28 on Monday. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -5.71 and a beta of 0.72. The firm’s fifty day moving average is $23.05 and its 200 day moving average is $21.06. 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 has a 52-week low of $15.31 and a 52-week high of $27.24.

Xencor (NASDAQ:XNCR) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.98) by $0.27. The company had revenue of $10.70 million for the quarter, compared to the consensus estimate of $14.59 million. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. Xencor’s revenue was down 81.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.40) earnings per share. Sell-side analysts forecast that Xencor will post -3.68 EPS for the current fiscal year.

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.