Xencor (NASDAQ:XNCR) Given Overweight Rating at Cantor Fitzgerald

Xencor (NASDAQ:XNCR)‘s stock had its “overweight” rating reissued by investment analysts at Cantor Fitzgerald in a research note issued to investors on Monday,Benzinga reports. They presently have a $40.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 231.98% from the stock’s current price.

Several other equities analysts have also commented on XNCR. Bank of America lowered Xencor from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $23.00 to $12.00 in a research report on Wednesday, September 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of Xencor in a report on Saturday, September 27th. Wedbush restated an “outperform” rating and issued a $26.00 price objective on shares of Xencor in a report on Tuesday, September 2nd. Royal Bank Of Canada decreased their target price on shares of Xencor from $32.00 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, August 21st. Finally, Wells Fargo & Company reduced their price objective on Xencor from $33.00 to $27.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.22.

Xencor Stock Up 2.4%

NASDAQ:XNCR opened at $12.05 on Monday. The business’s 50-day moving average price is $8.80 and its two-hundred day moving average price is $9.01. The stock has a market cap of $859.33 million, a P/E ratio of -5.06 and a beta of 0.96. Xencor has a twelve month low of $6.92 and a twelve month high of $27.24.

Xencor (NASDAQ:XNCR) last released its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.37. Xencor had a negative net margin of 121.52% and a negative return on equity of 25.75%. The business had revenue of $43.61 million during the quarter, compared to analysts’ expectations of $22.59 million. During the same quarter in the previous year, the company earned ($1.07) EPS. The business’s quarterly revenue was up 82.4% compared to the same quarter last year. On average, equities research analysts expect that Xencor will post -3.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Xencor

Institutional investors have recently modified their holdings of the business. Braidwell LP lifted its stake in Xencor by 169.0% during the 1st quarter. Braidwell LP now owns 1,655,690 shares of the biopharmaceutical company’s stock valued at $17,617,000 after acquiring an additional 1,040,159 shares during the period. Primecap Management Co. CA raised its holdings in shares of Xencor by 8.6% during the first quarter. Primecap Management Co. CA now owns 9,761,012 shares of the biopharmaceutical company’s stock valued at $103,857,000 after purchasing an additional 776,580 shares during the last quarter. Nantahala Capital Management LLC bought a new stake in Xencor in the 1st quarter worth approximately $4,860,000. Bank of America Corp DE grew its position in Xencor by 94.5% in the 2nd quarter. Bank of America Corp DE now owns 938,993 shares of the biopharmaceutical company’s stock worth $7,380,000 after purchasing an additional 456,302 shares during the period. Finally, BVF Inc. IL grew its position in Xencor by 19.7% in the 1st quarter. BVF Inc. IL now owns 2,740,141 shares of the biopharmaceutical company’s stock worth $29,155,000 after purchasing an additional 451,381 shares during the period.

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.