JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Xencor (NASDAQ:XNCR) Stock

Key Points

• JPMorgan raised Xencor’s price target from $14 to $21 but maintained a “neutral” rating, implying roughly 21% downside from the stock’s reported $26.62 price.
• Analyst sentiment remains mixed but leans positive: Xencor has a “Moderate Buy” consensus rating and an average target of $30.71, with targets ranging from $21 to $46.
• Xencor exceeded quarterly expectations, reporting an adjusted loss of $0.29 per share versus the $0.80 expected loss and revenue of $51.22 million, up 17.4% year over year.

Xencor (NASDAQ:XNCR - Get Free Report) had its price target raised by research analysts at JPMorgan Chase & Co. from $14.00 to $21.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a "neutral" rating on the biopharmaceutical company's stock. JPMorgan Chase & Co.'s price target would indicate a potential downside of 21.11% from the stock's current price.

Other equities research analysts have also issued reports about the stock. Raymond James Financial upped their price objective on shares of Xencor from $40.00 to $46.00 and gave the company a "strong-buy" rating in a research note on Tuesday. Weiss Ratings reissued a "sell (d-)" rating on shares of Xencor in a research note on Wednesday, June 24th. Zacks Research raised Xencor from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. Cantor Fitzgerald lifted their target price on Xencor from $43.00 to $44.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Finally, Wedbush increased their target price on shares of Xencor from $26.00 to $30.00 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.71.

Xencor Stock Performance

Shares of XNCR stock traded down $0.28 on Thursday, hitting $26.62. The company had a trading volume of 1,294,512 shares, compared to its average volume of 910,440. The firm has a market cap of $1.98 billion, a P/E ratio of -12.27 and a beta of 0.88. The stock's 50-day moving average is $20.59 and its two-hundred day moving average is $15.11. Xencor has a twelve month low of $8.05 and a twelve month high of $30.61.

Xencor (NASDAQ:XNCR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $18.89 million. During the same period last year, the company earned ($0.41) earnings per share. The firm's revenue was up 17.4% compared to the same quarter last year. Equities research analysts predict that Xencor will post -3 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC acquired a new position in Xencor during the 1st quarter valued at about $438,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Xencor by 9.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,047 shares of the biopharmaceutical company's stock valued at $471,000 after purchasing an additional 3,692 shares during the period. Goldman Sachs Group Inc. increased its holdings in Xencor by 89.9% during the first quarter. Goldman Sachs Group Inc. now owns 726,734 shares of the biopharmaceutical company's stock worth $7,732,000 after buying an additional 344,088 shares during the last quarter. Creative Planning increased its stake in shares of Xencor by 25.3% during the 2nd quarter. Creative Planning now owns 18,130 shares of the biopharmaceutical company's stock worth $143,000 after purchasing an additional 3,661 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Xencor by 170.9% in the second quarter. JPMorgan Chase & Co. now owns 330,007 shares of the biopharmaceutical company's stock worth $2,594,000 after buying an additional 208,182 shares during the last quarter.

About Xencor

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.

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