Xencor (NASDAQ:XNCR) Sets New 1-Year High – Time to Buy?

Xencor, Inc. (NASDAQ:XNCR) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $21.64 and last traded at $21.3210, with a volume of 776533 shares trading hands. The stock had previously closed at $19.53.

Wall Street Analysts Forecast Growth

XNCR has been the topic of a number of recent research reports. Wall Street Zen cut Xencor from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 9th. Truist Financial lowered their price objective on Xencor from $29.00 to $27.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. JPMorgan Chase & Co. upped their price objective on shares of Xencor from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xencor in a research report on Wednesday, June 24th. Finally, Zacks Research upgraded shares of Xencor from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.25.

Xencor Price Performance

The stock has a market capitalization of $1.50 billion, a P/E ratio of -8.83 and a beta of 0.86. The stock has a fifty day moving average price of $14.86 and a 200 day moving average price of $13.15.

Xencor (NASDAQ:XNCR) last released its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($1.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.96). The company had revenue of $4.52 million for the quarter, compared to the consensus estimate of $27.86 million. Xencor had a negative net margin of 177.10% and a negative return on equity of 28.77%. The business’s revenue for the quarter was down 86.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.66) earnings per share. Research analysts anticipate that Xencor, Inc. will post -3.88 earnings per share for the current year.

Institutional Investors Weigh In On Xencor

Hedge funds and other institutional investors have recently modified their holdings of the stock. ProShare Advisors LLC boosted its position in shares of Xencor by 6.5% in the fourth quarter. ProShare Advisors LLC now owns 16,853 shares of the biopharmaceutical company’s stock valued at $258,000 after acquiring an additional 1,026 shares during the period. Cerity Partners LLC increased its holdings in Xencor by 3.8% during the 4th quarter. Cerity Partners LLC now owns 31,302 shares of the biopharmaceutical company’s stock worth $479,000 after acquiring an additional 1,143 shares during the period. State of Tennessee Department of Treasury lifted its stake in Xencor by 6.2% in the 2nd quarter. State of Tennessee Department of Treasury now owns 30,721 shares of the biopharmaceutical company’s stock worth $241,000 after purchasing an additional 1,784 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Xencor by 3.3% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 70,015 shares of the biopharmaceutical company’s stock worth $550,000 after purchasing an additional 2,256 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Xencor by 118.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company’s stock valued at $44,000 after purchasing an additional 3,018 shares during the period.

About Xencor

Xencor, Inc is a clinical-stage biopharmaceutical company focused on the design and development of engineered protein therapeutics for the treatment of autoimmune diseases, cancer and neurological disorders. The company applies its proprietary XmAb® platform to manipulate antibody structure and function, creating molecules with enhanced immune engagement and extended half-life. Xencor’s research programs span a range of therapeutic modalities, including monoclonal antibodies, bispecific antibodies and cytokine-based fusion proteins.

The XmAb® platform enables precise modification of the Fc region to augment key properties such as receptor binding, effector function and pharmacokinetics.