Xencor (NASDAQ:XNCR) Price Target Raised to $21.00 at JPMorgan Chase & Co.

Xencor (NASDAQ:XNCR) had its price target upped by stock analysts at JPMorgan Chase & Co. from $14.00 to $21.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 21.11% from the company’s current price.

A number of other research analysts have also commented on XNCR. Raymond James Financial boosted their price target on shares of Xencor from $40.00 to $46.00 and gave the company a “strong-buy” rating in a research report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xencor in a research report on Wednesday, June 24th. Cantor Fitzgerald lifted their price objective on Xencor from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Royal Bank Of Canada boosted their target price on Xencor from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen upgraded Xencor from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $30.71.

Xencor Stock Down 1.0%

NASDAQ:XNCR traded down $0.28 during mid-day trading on Thursday, hitting $26.62. 1,294,512 shares of the stock traded hands, compared to its average volume of 910,440. The business’s 50-day moving average price is $20.59 and its 200 day moving average price is $15.11. The company has a market cap of $1.98 billion, a PE ratio of -12.27 and a beta of 0.88. Xencor has a 12-month low of $8.05 and a 12-month high of $30.61.

Xencor (NASDAQ:XNCR) last posted its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.51. Xencor had a negative net margin of 155.59% and a negative return on equity of 28.66%. The business had revenue of $51.22 million for the quarter, compared to analyst estimates of $18.89 million. During the same quarter in the prior year, the firm posted ($0.41) EPS. Xencor’s revenue was up 17.4% on a year-over-year basis. Analysts anticipate that Xencor will post -3 earnings per share for the current fiscal year.

Institutional Trading of Xencor

A number of hedge funds have recently made changes to their positions in XNCR. BlackRock Inc. bought a new position in Xencor in the second quarter valued at $219,785,000. Primecap Management Co. CA bought a new stake in Xencor during the second quarter worth about $163,919,000. Vanguard Group Inc. boosted its holdings in shares of Xencor by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 7,165,450 shares of the biopharmaceutical company’s stock worth $109,703,000 after purchasing an additional 61,692 shares in the last quarter. BVF Inc. IL boosted its holdings in shares of Xencor by 160.3% in the 4th quarter. BVF Inc. IL now owns 7,133,720 shares of the biopharmaceutical company’s stock worth $109,217,000 after purchasing an additional 4,393,579 shares in the last quarter. Finally, RTW Investments LP increased its position in shares of Xencor by 8.9% during the 4th quarter. RTW Investments LP now owns 6,777,461 shares of the biopharmaceutical company’s stock valued at $103,763,000 after purchasing an additional 556,407 shares during the last quarter.

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.