Xencor (NASDAQ:XNCR) PT Lowered to $38.00 at BTIG Research

Xencor (NASDAQ:XNCR) had its target price lowered by BTIG Research from $56.00 to $38.00 in a research note released on Tuesday, MarketBeat Ratings reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also weighed in on XNCR. Wedbush cut their price objective on shares of Xencor from $36.00 to $34.00 and set an outperform rating for the company in a research report on Wednesday, February 28th. Mizuho lowered their target price on shares of Xencor from $59.00 to $50.00 and set a buy rating for the company in a report on Monday, January 22nd. StockNews.com raised shares of Xencor from a sell rating to a hold rating in a research note on Saturday, March 9th. BMO Capital Markets cut their target price on Xencor from $38.00 to $34.00 and set an outperform rating on the stock in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada reissued an outperform rating and set a $32.00 price target on shares of Xencor in a research report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $36.00.

Xencor Stock Performance

NASDAQ:XNCR opened at $18.95 on Tuesday. Xencor has a twelve month low of $16.49 and a twelve month high of $28.96. The company has a market capitalization of $1.16 billion, a P/E ratio of -9.02 and a beta of 0.76. The company has a current ratio of 7.36, a quick ratio of 7.36 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average price of $22.24 and a two-hundred day moving average price of $20.38.

Xencor (NASDAQ:XNCR) last released its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.67). The company had revenue of $44.70 million for the quarter, compared to analysts’ expectations of $77.63 million. Xencor had a negative return on equity of 18.67% and a negative net margin of 74.90%. The business’s quarterly revenue was up 106.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.20) EPS. As a group, research analysts expect that Xencor will post -3.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Xencor news, CEO Bassil I. Dahiyat sold 12,528 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $23.43, for a total value of $293,531.04. Following the completion of the sale, the chief executive officer now owns 300,097 shares of the company’s stock, valued at $7,031,272.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Bassil I. Dahiyat sold 12,528 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $23.43, for a total value of $293,531.04. Following the completion of the transaction, the chief executive officer now owns 300,097 shares of the company’s stock, valued at $7,031,272.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John R. Desjarlais sold 54,108 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $19.38, for a total value of $1,048,613.04. Following the sale, the vice president now owns 161,675 shares of the company’s stock, valued at approximately $3,133,261.50. The disclosure for this sale can be found here. In the last three months, insiders sold 101,351 shares of company stock valued at $2,152,417. Company insiders own 4.97% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Diversified Trust Co raised its stake in Xencor by 4.5% during the first quarter. Diversified Trust Co now owns 13,059 shares of the biopharmaceutical company’s stock valued at $289,000 after buying an additional 563 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Xencor by 153.7% during the first quarter. GAMMA Investing LLC now owns 2,172 shares of the biopharmaceutical company’s stock worth $48,000 after acquiring an additional 1,316 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Xencor in the first quarter valued at about $229,000. Vanguard Group Inc. increased its position in Xencor by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 6,767,249 shares of the biopharmaceutical company’s stock worth $143,669,000 after purchasing an additional 115,886 shares during the period. Finally, Wellington Management Group LLP acquired a new position in Xencor during the 4th quarter valued at about $879,000.

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.