Xencor (NASDAQ:XNCR) Stock Rating Reaffirmed as Buy by Truist Financial

Xencor (NASDAQ:XNCR)‘s stock had its “buy” rating reaffirmed by equities researchers at Truist Financial in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $29.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $27.00. Truist Financial’s price objective suggests a potential upside of 16.00% from the company’s previous close.

XNCR has been the topic of several other research reports. Zacks Research raised shares of Xencor from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Xencor in a research report on Monday, September 21st. Bank of America upped their target price on shares of Xencor from $20.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, September 21st. Royal Bank Of Canada raised their target price on shares of Xencor from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Finally, Cantor Fitzgerald boosted their price target on Xencor from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Xencor presently has an average rating of “Moderate Buy” and an average price target of $31.38.

Xencor Trading Down 2.3%

NASDAQ:XNCR opened at $25.00 on Monday. The business’s 50-day moving average is $24.00 and its 200 day moving average is $16.85. Xencor has a 12 month low of $10.38 and a 12 month high of $30.61. The company has a market capitalization of $1.86 billion, a P/E ratio of -11.52 and a beta of 0.88.

Xencor (NASDAQ:XNCR) last released its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.80) by $0.51. Xencor had a negative return on equity of 28.66% and a negative net margin of 155.59%.The company had revenue of $51.22 million during the quarter, compared to analyst estimates of $18.89 million. During the same quarter last year, the business posted ($0.41) earnings per share. The firm’s revenue was up 17.4% on a year-over-year basis. On average, research analysts forecast that Xencor will post -3.05 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Xencor in the second quarter valued at $219,785,000. Primecap Management Co. CA acquired a new stake in shares of Xencor during the 2nd quarter valued at about $163,919,000. BVF Inc. IL grew its position in shares of Xencor by 160.3% during the 4th quarter. BVF Inc. IL now owns 7,133,720 shares of the biopharmaceutical company’s stock valued at $109,217,000 after acquiring an additional 4,393,579 shares during the period. Legal & General Group Plc increased its stake in shares of Xencor by 2.8% in the 4th quarter. Legal & General Group Plc now owns 1,308,088 shares of the biopharmaceutical company’s stock valued at $20,027,000 after purchasing an additional 35,088 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Xencor by 3.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,294,887 shares of the biopharmaceutical company’s stock valued at $15,613,000 after purchasing an additional 45,599 shares in the last quarter.

About Xencor

Xencor, Inc is a clinical-stage biopharmaceutical company that develops engineered antibodies and cytokine therapeutics for the treatment of cancer, autoimmune diseases and other serious medical conditions. The company’s platform is designed to modify antibody properties, including immune-system activation, half-life and biological activity, to create differentiated therapeutic candidates.

Xencor’s proprietary XmAb technology supports its internal research programs and collaborations with other biopharmaceutical companies.