Xencor (NASDAQ:XNCR) Stock Rating Upgraded by Zacks Research

Xencor (NASDAQ:XNCR) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other research analysts also recently commented on the company. JPMorgan Chase & Co. boosted their price target on Xencor from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xencor in a report on Wednesday, June 24th. Truist Financial dropped their price objective on shares of Xencor from $29.00 to $27.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Wall Street Zen downgraded Xencor from a “hold” rating to a “strong sell” rating in a report on Saturday, May 9th. 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.25.

Xencor Trading Up 5.2%

Shares of XNCR stock opened at $15.67 on Monday. The stock has a market cap of $1.16 billion, a P/E ratio of -6.84 and a beta of 0.86. Xencor has a 1 year low of $6.92 and a 1 year high of $18.69. The stock has a 50 day simple moving average of $12.69 and a 200 day simple moving average of $12.76.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($1.71) 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 return on equity of 28.77% and a negative net margin of 177.10%.Xencor’s revenue was down 86.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.66) EPS. Analysts forecast that Xencor will post -3.84 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in XNCR. ProShare Advisors LLC boosted its position in shares of Xencor by 6.5% during the 4th quarter. ProShare Advisors LLC now owns 16,853 shares of the biopharmaceutical company’s stock valued at $258,000 after purchasing an additional 1,026 shares in the last quarter. Cerity Partners LLC increased its holdings in Xencor by 3.8% in the fourth quarter. Cerity Partners LLC now owns 31,302 shares of the biopharmaceutical company’s stock worth $479,000 after purchasing an additional 1,143 shares in the last quarter. State of Tennessee Department of Treasury lifted its stake in Xencor by 6.2% in the second quarter. State of Tennessee Department of Treasury now owns 30,721 shares of the biopharmaceutical company’s stock valued at $241,000 after buying an additional 1,784 shares during the period. Diversified Trust Co. lifted its stake in Xencor by 13.8% in the fourth quarter. Diversified Trust Co. now owns 18,442 shares of the biopharmaceutical company’s stock valued at $282,000 after buying an additional 2,242 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in shares of Xencor by 3.3% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 70,015 shares of the biopharmaceutical company’s stock worth $550,000 after buying an additional 2,256 shares in the last quarter.

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.