Wells Fargo & Company Cuts Xencor (NASDAQ:XNCR) Price Target to $33.00

Xencor (NASDAQ:XNCR) had its price target dropped by investment analysts at Wells Fargo & Company from $37.00 to $33.00 in a report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 115.98% from the company’s current price.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. boosted their price objective on Xencor from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. BMO Capital Markets reiterated an “outperform” rating and issued a $34.00 price target (up previously from $32.00) on shares of Xencor in a research note on Friday, November 8th. Wedbush reissued an “outperform” rating and issued a $38.00 price objective on shares of Xencor in a research report on Thursday, November 7th. StockNews.com lowered shares of Xencor from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Piper Sandler upgraded shares of Xencor from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $20.00 to $30.00 in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Xencor presently has a consensus rating of “Moderate Buy” and an average price target of $34.38.

Xencor Trading Up 2.0 %

XNCR stock traded up $0.30 during mid-day trading on Friday, hitting $15.28. 248,972 shares of the company were exchanged, compared to its average volume of 497,777. The business has a fifty day simple moving average of $19.61 and a 200-day simple moving average of $20.64. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 0.01. Xencor has a 12-month low of $14.18 and a 12-month high of $27.24. The firm has a market capitalization of $1.07 billion, a P/E ratio of -4.77 and a beta of 0.70.

Xencor (NASDAQ:XNCR) last announced its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.62) EPS for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.19. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. The company had revenue of $52.79 million during the quarter, compared to analysts’ expectations of $17.14 million. On average, equities research analysts predict that Xencor will post -3.68 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Alan Bruce Montgomery sold 1,421 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $27.03, for a total value of $38,409.63. Following the completion of the sale, the director now directly owns 9,140 shares of the company’s stock, valued at approximately $247,054.20. The trade was a 13.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in XNCR. Sterling Capital Management LLC boosted its holdings in shares of Xencor by 732.4% in the fourth quarter. Sterling Capital Management LLC now owns 1,182 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,040 shares during the period. GF Fund Management CO. LTD. acquired a new position in shares of Xencor in the 4th quarter valued at $34,000. GAMMA Investing LLC raised its position in Xencor by 31.0% in the 4th quarter. GAMMA Investing LLC now owns 2,147 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 508 shares during the last quarter. KBC Group NV boosted its stake in Xencor by 63.5% during the 3rd quarter. KBC Group NV now owns 3,123 shares of the biopharmaceutical company’s stock worth $63,000 after purchasing an additional 1,213 shares during the period. Finally, Quarry LP grew its position in Xencor by 111.4% during the 3rd quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock worth $80,000 after purchasing an additional 2,108 shares during the last quarter.

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.