Xencor (NASDAQ:XNCR) Earns Buy Rating from Truist Financial

Key Points

• Truist Financial reiterated its “buy” rating on Xencor and raised its price target from $27 to $29, implying approximately 16.5% upside from the stock’s current price.
• Analyst sentiment is broadly positive, with Xencor holding a consensus “Moderate Buy” rating and an average price target of $31.38; targets from other firms range as high as $46.
• Xencor’s latest quarterly results exceeded expectations: adjusted EPS was a loss of $0.29 versus the $0.80 loss analysts anticipated, while revenue increased 17.4% year over year to $51.22 million.

Xencor (NASDAQ:XNCR - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at Truist Financial in a report issued on Monday, Benzinga reports. They presently have a $29.00 price objective on the biopharmaceutical company's stock, up from their previous price objective of $27.00. Truist Financial's price objective would suggest a potential upside of 16.54% from the stock's current price.

XNCR has been the subject of several other reports. Wall Street Zen raised Xencor from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 8th. Barclays increased their price target on Xencor from $27.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday, September 11th. Raymond James Financial lifted their price objective on Xencor from $40.00 to $46.00 and gave the company a "strong-buy" rating in a research note on Tuesday, September 1st. Zacks Research upgraded shares of Xencor from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. Finally, Royal Bank Of Canada raised their target price on shares of Xencor from $19.00 to $20.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Xencor has an average rating of "Moderate Buy" and a consensus price target of $31.38.

Xencor Price Performance

Shares of NASDAQ XNCR traded up $1.08 during midday trading on Monday, hitting $24.89. The company's stock had a trading volume of 319,910 shares, compared to its average volume of 950,037. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of -11.46 and a beta of 0.88. The business's fifty day simple moving average is $23.78 and its two-hundred day simple moving average is $16.66. Xencor has a 1 year low of $10.38 and a 1 year high of $30.61.

Xencor (NASDAQ:XNCR - Get Free Report) last released its earnings results 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 net margin of 155.59% and a negative return on equity of 28.66%. The company had revenue of $51.22 million for the quarter, compared to analyst estimates of $18.89 million. During the same period in the prior year, the business earned ($0.41) EPS. The firm's quarterly revenue was up 17.4% on a year-over-year basis. Analysts anticipate that Xencor will post -3.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Johnson & Johnson purchased a new stake in shares of Xencor in the second quarter valued at about $12,043,798. Hsbc Holdings PLC boosted its stake in shares of Xencor by 114.2% during the second quarter. Hsbc Holdings PLC now owns 125,482 shares of the biopharmaceutical company's stock worth $2,083,000 after buying an additional 66,903 shares during the period. Seven Fleet Capital Management LP purchased a new position in shares of Xencor during the second quarter worth about $7,828,524,000. Primecap Management Co. CA purchased a new position in shares of Xencor during the second quarter worth about $163,919,000. Finally, Man Group plc acquired a new position in Xencor in the 2nd quarter valued at about $940,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.