Xencor (NASDAQ:XNCR) Posts Quarterly Earnings Results, Misses Estimates By $0.25 EPS

Xencor (NASDAQ:XNCR) posted its quarterly earnings data on Monday. The biopharmaceutical company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.25), Briefing.com reports. The business had revenue of $16.96 million for the quarter, compared to the consensus estimate of $21.13 million. Xencor had a negative net margin of 82.23% and a negative return on equity of 20.29%. Xencor’s quarterly revenue was down 62.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.37) EPS.

Xencor Price Performance

XNCR stock traded down $0.10 during trading on Wednesday, reaching $17.75. The company’s stock had a trading volume of 19,723 shares, compared to its average volume of 633,911. The company’s fifty day moving average is $20.25 and its 200-day moving average is $21.24. Xencor has a 1 year low of $16.49 and a 1 year high of $26.84. The company has a market capitalization of $1.09 billion, a P/E ratio of -8.15 and a beta of 0.69. The company has a quick ratio of 7.08, a current ratio of 7.08 and a debt-to-equity ratio of 0.02.

Analyst Ratings Changes

Several analysts have weighed in on the company. BMO Capital Markets reiterated an “outperform” rating and issued a $32.00 price objective on shares of Xencor in a research report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 price objective on shares of Xencor in a research report on Tuesday. Raymond James lowered their price objective on Xencor from $58.00 to $40.00 and set a “strong-buy” rating for the company in a research report on Friday, June 14th. Wedbush reiterated an “outperform” rating and issued a $34.00 price objective (down previously from $36.00) on shares of Xencor in a research report on Thursday, June 13th. Finally, BTIG Research decreased their target price on Xencor from $56.00 to $38.00 and set a “buy” rating for the company in a report on Tuesday, April 16th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Xencor has an average rating of “Moderate Buy” and a consensus price target of $34.44.

Insider Buying and Selling

In other Xencor news, VP John R. Desjarlais sold 36,329 shares of Xencor stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $18.32, for a total value of $665,547.28. Following the sale, the vice president now directly owns 192,319 shares in the company, valued at approximately $3,523,284.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.23% of the stock is currently owned by company insiders.

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.