Xencor (NASDAQ:XNCR) Price Target Lowered to $33.00 at Wells Fargo & Company

Xencor (NASDAQ:XNCR) had its price target decreased by Wells Fargo & Company from $37.00 to $33.00 in a research report report published on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other research firms have also weighed in on XNCR. Wedbush reissued an “outperform” rating and set a $38.00 target price on shares of Xencor in a research report on Thursday, November 7th. Piper Sandler raised Xencor from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $20.00 to $30.00 in a research report on Monday, December 2nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $34.00 target price (up previously from $32.00) on shares of Xencor in a report on Friday, November 8th. JPMorgan Chase & Co. upped their price target on Xencor from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, StockNews.com downgraded shares of Xencor from a “hold” rating to a “sell” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.38.

Xencor Stock Performance

Shares of NASDAQ XNCR opened at $15.36 on Friday. The business’s 50-day simple moving average is $19.61 and its 200-day simple moving average is $20.64. 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 $14.18 and a 52 week high of $27.24. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -4.80 and a beta of 0.70.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.19. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. The company had revenue of $52.79 million for the quarter, compared to the consensus estimate of $17.14 million. As a group, equities research analysts expect that Xencor will post -3.68 earnings per share for the current fiscal year.

Insider Activity at Xencor

In related news, Director Alan Bruce Montgomery sold 1,421 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $27.03, for a total value of $38,409.63. Following the sale, the director now owns 9,140 shares of the company’s stock, valued at $247,054.20. The trade was a 13.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Xencor

A number of institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. lifted 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 worth $62,748,000 after buying an additional 1,858,440 shares during the period. RTW Investments LP raised its stake in Xencor by 317.9% during the fourth quarter. RTW Investments LP now owns 2,402,883 shares of the biopharmaceutical company’s stock worth $55,218,000 after acquiring an additional 1,827,883 shares in the last quarter. BVF Inc. IL raised its stake in Xencor by 169.3% during the fourth quarter. BVF Inc. IL now owns 2,288,760 shares of the biopharmaceutical company’s stock worth $52,596,000 after acquiring an additional 1,438,760 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Xencor by 452.4% during the fourth quarter. Nuveen Asset Management LLC now owns 837,082 shares of the biopharmaceutical company’s stock valued at $19,236,000 after acquiring an additional 685,557 shares during the period. Finally, Finepoint Capital LP acquired a new stake in shares of Xencor in the 4th quarter valued at $15,167,000.

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.