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

Xencor, Inc. (NASDAQ:XNCR)’s stock price reached a new 52-week high during mid-day trading on Tuesday. The company traded as high as $39.85 and last traded at $39.66, with a volume of 42,047 shares trading hands. The stock had previously closed at $38.59.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Bank of America upped their price objective on shares of Xencor from $20.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, September 21st. Raymond James Financial increased their price objective on shares of Xencor from $40.00 to $46.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 1st. Truist Financial raised their target price on shares of Xencor from $29.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, October 27th. Royal Bank Of Canada boosted their target price on shares of Xencor from $20.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday, October 27th. Finally, Wall Street Zen upgraded shares of Xencor from a “hold” rating to a “buy” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $42.22.

Xencor Stock Performance

The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of -24.77 and a beta of 0.78. The business has a fifty day moving average price of $26.42 and a 200 day moving average price of $17.59.

Xencor (NASDAQ:XNCR) last issued its earnings results on Wednesday, November 4th. The biopharmaceutical company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.83. Xencor had a negative return on equity of 21.37% and a negative net margin of 58.79%. The firm had revenue of $116.52 million for the quarter, compared to analysts’ expectations of $63.00 million. During the same quarter last year, the firm earned ($0.08) earnings per share. The firm’s revenue for the quarter was up 453.3% compared to the same quarter last year. On average, analysts expect that Xencor, Inc. will post -2.85 earnings per share for the current year.

Hedge Funds Weigh In On Xencor

A number of large investors have recently modified their holdings of XNCR. Edgestream Partners L.P. purchased a new stake in shares of Xencor during the 3rd quarter worth about $3,855,000. Bessemer Group Inc. increased its position in Xencor by 18.7% during the 3rd quarter. Bessemer Group Inc. now owns 1,791 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 282 shares in the last quarter. Diversified Trust Co raised its holdings in Xencor by 10.8% in the third quarter. Diversified Trust Co now owns 24,917 shares of the biopharmaceutical company’s stock valued at $622,000 after buying an additional 2,427 shares during the period. Russell Investments Group Ltd. raised its holdings in Xencor by 76.9% in the third quarter. Russell Investments Group Ltd. now owns 80,285 shares of the biopharmaceutical company’s stock valued at $2,003,000 after buying an additional 34,905 shares during the period. Finally, Maryland State Retirement & Pension System lifted its position in Xencor by 39.4% during the third quarter. Maryland State Retirement & Pension System now owns 15,036 shares of the biopharmaceutical company’s stock valued at $375,000 after buying an additional 4,247 shares in the last quarter.

Xencor Company Profile

Xencor, Inc is a clinical-stage biopharmaceutical company that discovers and develops engineered antibody therapeutics for cancer and autoimmune diseases. The company’s XmAb technology platform modifies antibody structures to create treatments with properties such as enhanced immune-cell activity or the ability to bind to more than one target.

Xencor advances its own drug candidates and works with other biopharmaceutical companies through research collaborations and licensing agreements.