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

Xencor, Inc. (NASDAQ:XNCR) has received a consensus recommendation of “Buy” from the nine research firms that are currently covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $36.56.

XNCR has been the subject of a number of recent research reports. Piper Sandler upgraded shares of Xencor from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $20.00 to $30.00 in a report on Monday, December 2nd. Wedbush reissued an “outperform” rating and set a $38.00 target price on shares of Xencor in a research report on Thursday, November 7th. Royal Bank of Canada lifted their price target on shares of Xencor from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. BMO Capital Markets reiterated an “outperform” rating and set a $34.00 price objective (up previously from $32.00) on shares of Xencor in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their target price on Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th.

Insider Buying and Selling

In other news, CEO Bassil I. Dahiyat sold 49,278 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $24.07, for a total value of $1,186,121.46. Following the sale, the chief executive officer now owns 352,615 shares in the company, valued at $8,487,443.05. This represents a 12.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan Bruce Montgomery sold 1,421 shares of Xencor stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $27.03, for a total value of $38,409.63. Following the transaction, the director now owns 9,140 shares of the company’s stock, valued at approximately $247,054.20. This represents a 13.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 136,050 shares of company stock valued at $3,277,609 over the last quarter. 5.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Xencor

A number of hedge funds and other institutional investors have recently made changes to their positions in XNCR. Primecap Management Co. CA boosted its holdings in Xencor by 0.3% during the second quarter. Primecap Management Co. CA now owns 9,116,202 shares of the biopharmaceutical company’s stock worth $172,570,000 after buying an additional 25,495 shares in the last quarter. Point72 Asset Management L.P. grew its position in shares of 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 valued at $62,748,000 after acquiring an additional 1,858,440 shares during the period. Logos Global Management LP increased its stake in shares of Xencor by 130.8% in the 2nd quarter. Logos Global Management LP now owns 1,500,000 shares of the biopharmaceutical company’s stock valued at $28,395,000 after purchasing an additional 850,000 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Xencor by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,459,427 shares of the biopharmaceutical company’s stock worth $27,628,000 after purchasing an additional 87,979 shares during the period. Finally, Geode Capital Management LLC boosted its position in Xencor by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,455,350 shares of the biopharmaceutical company’s stock worth $29,273,000 after purchasing an additional 17,658 shares in the last quarter.

Xencor Price Performance

NASDAQ XNCR opened at $20.26 on Thursday. The company has a market cap of $1.42 billion, a PE ratio of -6.33 and a beta of 0.72. The firm’s 50 day moving average price is $24.15 and its 200-day moving average price is $21.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.23 and a current ratio of 6.23. Xencor has a 52-week low of $15.31 and a 52-week high of $27.24.

Xencor (NASDAQ:XNCR) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.98) by $0.27. The business had revenue of $10.70 million for the quarter, compared to analysts’ expectations of $14.59 million. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. The business’s revenue for the quarter was down 81.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.40) EPS. Sell-side analysts forecast that Xencor will post -3.71 EPS for the current fiscal year.

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.