Xencor’s (XNCR) “Outperform” Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Xencor (NASDAQ:XNCR) in a research note issued to investors on Monday morning, RTT News reports. Wedbush currently has a $34.00 price objective on the biopharmaceutical company’s stock.

XNCR has been the subject of a number of other reports. Royal Bank of Canada reissued an outperform rating and set a $31.00 price target on shares of Xencor in a research report on Tuesday, August 6th. BMO Capital Markets reaffirmed an outperform rating and set a $32.00 price target on shares of Xencor in a research report on Tuesday, August 6th. Raymond James decreased their price objective on Xencor from $58.00 to $40.00 and set a strong-buy rating for the company in a report on Friday, June 14th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Xencor from $30.00 to $27.00 and set an overweight rating on the stock in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $34.44.

Xencor Stock Performance

Shares of XNCR stock opened at $21.13 on Monday. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -9.65 and a beta of 0.66. Xencor has a 52-week low of $15.31 and a 52-week high of $26.84. The company has a quick ratio of 6.92, a current ratio of 6.92 and a debt-to-equity ratio of 0.02. The company’s 50 day moving average is $18.21 and its 200 day moving average is $20.58.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings results on Monday, August 5th. The biopharmaceutical company reported ($1.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.25). The company had revenue of $16.96 million during 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 company’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. On average, sell-side analysts anticipate that Xencor will post -4.17 EPS for the current fiscal year.

Insider Buying and Selling at Xencor

In related news, VP John R. Desjarlais sold 36,329 shares of the business’s stock in a transaction dated 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 can be accessed through this link. Company insiders own 5.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of XNCR. Russell Investments Group Ltd. increased its holdings in shares of Xencor by 18.0% in the 4th quarter. Russell Investments Group Ltd. now owns 156,618 shares of the biopharmaceutical company’s stock valued at $3,325,000 after acquiring an additional 23,892 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Xencor by 16.4% during the fourth quarter. Victory Capital Management Inc. now owns 24,637 shares of the biopharmaceutical company’s stock worth $523,000 after buying an additional 3,477 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Xencor by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 520,698 shares of the biopharmaceutical company’s stock worth $11,054,000 after buying an additional 32,251 shares during the last quarter. BNP Paribas Financial Markets increased its position in Xencor by 105.8% in the 4th quarter. BNP Paribas Financial Markets now owns 82,488 shares of the biopharmaceutical company’s stock valued at $1,751,000 after acquiring an additional 42,403 shares during the period. Finally, Jump Financial LLC raised its stake in Xencor by 266.4% during the 4th quarter. Jump Financial LLC now owns 84,689 shares of the biopharmaceutical company’s stock valued at $1,798,000 after acquiring an additional 61,574 shares during the last quarter.

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.