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

Shares of Xencor, Inc. (NASDAQ:XNCR) have received a consensus rating of “Buy” from the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $36.56.

Several brokerages have weighed in on XNCR. Wells Fargo & Company began coverage on Xencor in a report on Thursday, December 12th. They set an “overweight” rating and a $37.00 price target on the stock. Wedbush restated an “outperform” rating and set a $38.00 target price on shares of Xencor in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on shares of Xencor from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. BMO Capital Markets reissued an “outperform” rating and issued a $34.00 price objective (up from $32.00) on shares of Xencor in a research report on Friday, November 8th. Finally, Royal Bank of Canada raised their price objective on shares of Xencor from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, September 26th.

Xencor Price Performance

Shares of XNCR opened at $23.43 on Thursday. 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 fifty-two week low of $15.31 and a fifty-two week high of $27.24. The company has a market cap of $1.64 billion, a P/E ratio of -7.32 and a beta of 0.72. The firm’s 50 day moving average price is $24.09 and its 200 day moving average price is $20.94.

Xencor (NASDAQ:XNCR) last posted its quarterly 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. The business had revenue of $10.70 million during 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%. The company’s quarterly revenue was down 81.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.40) earnings per share. On average, research analysts forecast that Xencor will post -3.71 earnings per share for the current fiscal year.

Insider Activity at Xencor

In related news, VP John R. Desjarlais sold 68,684 shares of the stock in a transaction on Monday, November 11th. The shares were 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 in the company, valued at $4,698,441.92. This represents a 25.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan Bruce Montgomery sold 13,301 shares of Xencor stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $27.03, for a total transaction of $359,526.03. Following the completion of the transaction, the director now owns 9,140 shares in the company, valued at approximately $247,054.20. This represents a 59.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 136,050 shares of company stock valued at $3,277,609 over the last ninety days. Insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Xencor

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. lifted its position in Xencor by 147.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 3,120,229 shares of the biopharmaceutical company’s stock worth $62,748,000 after acquiring an additional 1,858,440 shares during the period. Logos Global Management LP raised its stake in shares of Xencor by 130.8% during the second quarter. Logos Global Management LP now owns 1,500,000 shares of the biopharmaceutical company’s stock worth $28,395,000 after purchasing an additional 850,000 shares during the last quarter. RA Capital Management L.P. purchased a new stake in shares of Xencor during the third quarter worth approximately $11,563,000. RTW Investments LP acquired a new stake in shares of Xencor during the third quarter worth $11,563,000. Finally, Braidwell LP purchased a new position in Xencor in the 3rd quarter valued at $9,380,000.

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.