Xencor (NASDAQ:XNCR) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Xencor (NASDAQ:XNCR) had its price objective raised by Cantor Fitzgerald from $43.00 to $44.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 121.77% from the stock’s previous close.

XNCR has been the topic of a number of other reports. Zacks Research upgraded Xencor from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xencor in a report on Wednesday, June 24th. Truist Financial lowered their price target on Xencor from $29.00 to $27.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Wedbush reissued an “outperform” rating and issued a $26.00 price objective on shares of Xencor in a report on Thursday, July 30th. Finally, JPMorgan Chase & Co. boosted their price objective on Xencor from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.50.

Xencor Stock Performance

Shares of NASDAQ XNCR opened at $19.84 on Thursday. The company’s fifty day moving average price is $15.35 and its 200 day moving average price is $13.27. Xencor has a 1 year low of $6.92 and a 1 year high of $21.76. The company has a market capitalization of $1.47 billion, a PE ratio of -8.66 and a beta of 0.85.

Xencor (NASDAQ:XNCR) last released its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.51. The company had revenue of $51.22 million during the quarter, compared to analysts’ expectations of $18.89 million. Xencor had a negative net margin of 177.10% and a negative return on equity of 28.77%. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.41) earnings per share. On average, equities analysts expect that Xencor will post -3.76 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of XNCR. 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 worth $44,000 after buying an additional 3,018 shares during the last quarter. E Fund Management Co. Ltd. acquired a new position in shares of Xencor during the second quarter valued at approximately $79,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Xencor during the fourth quarter valued at approximately $81,000. iSAM Funds UK Ltd purchased a new position in shares of Xencor in the second quarter valued at approximately $122,000. Finally, Prelude Capital Management LLC purchased a new position in shares of Xencor in the third quarter valued at approximately $139,000.

Xencor Company Profile

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.