Brokerages Set Xencor, Inc. (NASDAQ:XNCR) Target Price at $36.56

Xencor, Inc. (NASDAQ:XNCR) has been assigned an average rating of “Buy” from the nine analysts that are covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $36.56.

A number of brokerages have weighed in on XNCR. Royal Bank of Canada raised their target price on shares of Xencor from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. increased their price target on Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. BMO Capital Markets restated an “outperform” rating and set a $34.00 price objective (up previously from $32.00) on shares of Xencor in a research report on Friday, November 8th. Wells Fargo & Company began coverage on Xencor in a research report on Thursday, December 12th. They issued an “overweight” rating and a $37.00 target price for the company. Finally, Piper Sandler raised Xencor from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $20.00 to $30.00 in a research note on Monday, December 2nd.

Insider Activity

In other Xencor news, CEO Bassil I. Dahiyat sold 3,366 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $24.02, for a total transaction of $80,851.32. Following the sale, the chief executive officer now owns 352,615 shares of the company’s stock, valued at approximately $8,469,812.30. This represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Alan Bruce Montgomery sold 13,301 shares of Xencor stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $27.03, for a total value of $359,526.03. Following the completion of the transaction, the director now directly owns 9,140 shares of the company’s stock, valued at approximately $247,054.20. This trade represents a 59.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 136,050 shares of company stock valued at $3,277,609. Company insiders own 5.23% of the company’s stock.

Institutional Investors Weigh In On Xencor

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in Xencor in the second quarter valued at approximately $154,000. Louisiana State Employees Retirement System lifted its position in shares of Xencor by 3.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 31,000 shares of the biopharmaceutical company’s stock valued at $587,000 after acquiring an additional 900 shares during the period. Baillie Gifford & Co. boosted its stake in Xencor by 3.3% during the second quarter. Baillie Gifford & Co. now owns 23,530 shares of the biopharmaceutical company’s stock worth $445,000 after acquiring an additional 744 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Xencor by 3.3% in the second quarter. Bank of New York Mellon Corp now owns 500,708 shares of the biopharmaceutical company’s stock worth $9,478,000 after purchasing an additional 15,974 shares during the period. Finally, Panagora Asset Management Inc. increased its stake in Xencor by 9.4% in the second quarter. Panagora Asset Management Inc. now owns 232,375 shares of the biopharmaceutical company’s stock valued at $4,399,000 after purchasing an additional 20,043 shares in the last quarter.

Xencor Stock Performance

NASDAQ:XNCR opened at $24.01 on Friday. Xencor has a twelve month low of $15.31 and a twelve month high of $27.24. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 0.01. The stock’s 50-day simple moving average is $23.40 and its 200 day simple moving average is $20.70. The firm has a market capitalization of $1.68 billion, a PE ratio of -7.50 and a beta of 0.69.

Xencor (NASDAQ:XNCR) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) EPS for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.27. The firm had revenue of $10.70 million during the quarter, compared to analysts’ expectations of $14.59 million. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The business’s revenue for the quarter was down 81.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.40) earnings per share. On average, analysts anticipate that Xencor will post -3.71 EPS for the current fiscal year.

Xencor Company Profile

Xencor, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of engineered monoclonal antibody and cytokine therapeutics to treat patients with cancer and autoimmune diseases. The company provides Sotrovimab that targets the SARS-CoV-2 virus; Ultomiris for the treatment of patients with paroxysmal nocturnal hemoglobinuria and atypical hemolytic uremic syndrome; and Monjuvi for the treatment of patients with relapsed or refractory diffuse large B-cell lymphoma.