Xencor (NASDAQ:XNCR) Earns “Outperform” Rating from BMO Capital Markets

BMO Capital Markets reiterated their outperform rating on shares of Xencor (NASDAQ:XNCR) in a research report released on Tuesday, Benzinga reports. BMO Capital Markets currently has a $32.00 target price on the biopharmaceutical company’s stock.

Several other equities analysts also recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on Xencor from $30.00 to $27.00 and set an overweight rating for the company in a research report on Wednesday, July 31st. BTIG Research decreased their price objective on Xencor from $56.00 to $38.00 and set a buy rating on the stock in a report on Tuesday, April 16th. Royal Bank of Canada decreased their price objective on Xencor from $32.00 to $31.00 and set an outperform rating on the stock in a report on Friday, June 14th. Wedbush restated an outperform rating and set a $34.00 price objective (down previously from $36.00) on shares of Xencor in a report on Thursday, June 13th. Finally, Raymond James decreased their price objective on Xencor from $58.00 to $40.00 and set a strong-buy rating on the stock in a report on Friday, June 14th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $34.44.

Xencor Stock Performance

Xencor stock opened at $16.06 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.08 and a current ratio of 6.92. The stock has a fifty day moving average of $20.10 and a two-hundred day moving average of $21.20. The company has a market capitalization of $990.26 million, a price-to-earnings ratio of -7.33 and a beta of 0.69. Xencor has a fifty-two week low of $15.31 and a fifty-two week high of $26.84.

Xencor (NASDAQ:XNCR) last released its quarterly earnings results on Monday, August 5th. The biopharmaceutical company reported ($1.07) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.25). The company had revenue of $16.96 million for the quarter, compared to analysts’ expectations of $21.13 million. Xencor had a negative return on equity of 28.23% and a negative net margin of 132.74%. The business’s quarterly revenue was down 62.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.37) EPS. On average, analysts anticipate that Xencor will post -3.56 EPS for the current fiscal year.

Insider Activity at Xencor

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC lifted its stake in shares of Xencor by 498.7% during the fourth quarter. CWM LLC now owns 1,377 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 1,147 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of Xencor by 303.9% during the fourth quarter. Parallel Advisors LLC now owns 1,349 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 1,015 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Xencor by 367.7% during the fourth quarter. Signaturefd LLC now owns 1,464 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 1,151 shares in the last quarter. GAMMA Investing LLC lifted its stake 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 purchasing an additional 1,316 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in shares of Xencor by 29,487.5% during the fourth quarter. Allworth Financial LP now owns 2,367 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 2,359 shares in the last quarter.

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.