Xencor (NASDAQ:XNCR) Given New $18.00 Price Target at JPMorgan Chase & Co.

Xencor (NASDAQ:XNCR) had its target price decreased by JPMorgan Chase & Co. from $20.00 to $18.00 in a research note issued to investors on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biopharmaceutical company’s stock.

Other research analysts have also recently issued research reports about the company. Wells Fargo & Company dropped their price target on Xencor from $33.00 to $27.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th. Barclays raised Xencor from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $6.00 to $23.00 in a research note on Wednesday, October 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Xencor in a report on Tuesday, October 14th. Bank of America cut shares of Xencor from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $23.00 to $12.00 in a report on Wednesday, September 3rd. Finally, Cantor Fitzgerald lifted their target price on shares of Xencor from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Thursday. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.67.

Xencor Price Performance

NASDAQ XNCR opened at $14.00 on Thursday. Xencor has a 12 month low of $6.92 and a 12 month high of $27.24. The firm has a market capitalization of $998.52 million, a PE ratio of -5.83 and a beta of 0.99. The company’s 50 day simple moving average is $11.59 and its 200 day simple moving average is $9.67.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.64. Xencor had a negative return on equity of 25.75% and a negative net margin of 121.52%.The firm had revenue of $21.00 million during the quarter, compared to analyst estimates of $29.73 million. During the same period last year, the company posted ($0.71) EPS. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. Sell-side analysts anticipate that Xencor will post -3.68 earnings per share for the current fiscal year.

Institutional Trading of Xencor

Several large investors have recently added to or reduced their stakes in the business. Amalgamated Bank increased its holdings in shares of Xencor by 4.8% during the 3rd quarter. Amalgamated Bank now owns 20,846 shares of the biopharmaceutical company’s stock valued at $245,000 after acquiring an additional 947 shares during the last quarter. New York State Teachers Retirement System increased its position in Xencor by 2.1% during the first quarter. New York State Teachers Retirement System now owns 59,326 shares of the biopharmaceutical company’s stock worth $631,000 after acquiring an additional 1,200 shares during the period. HighVista Strategies LLC raised its position in shares of Xencor by 4.3% during the second quarter. HighVista Strategies LLC now owns 33,304 shares of the biopharmaceutical company’s stock valued at $262,000 after buying an additional 1,362 shares during the last quarter. GAMMA Investing LLC raised its holdings in Xencor by 77.1% in the 3rd quarter. GAMMA Investing LLC now owns 3,328 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 1,449 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Xencor by 9.1% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,272 shares of the biopharmaceutical company’s stock valued at $144,000 after purchasing an additional 1,525 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.