Xencor (NASDAQ:XNCR) Price Target Raised to $26.00

Key Points

• Bank of America raised Xencor’s price target from $20 to $26 while maintaining a “neutral” rating, implying 4.78% upside from the previous close.
• Analyst sentiment is broadly positive, with MarketBeat reporting a “Moderate Buy” consensus and an average price target of $31.12; targets range from $20 to $46.
• Xencor shares rose 0.4% to $24.82, while the company’s latest quarterly results beat expectations, reporting a $0.29 loss per share versus the estimated $0.80 loss and revenue of $51.22 million.

Xencor (NASDAQ:XNCR - Get Free Report) had its price objective boosted by analysts at Bank of America from $20.00 to $26.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a "neutral" rating on the biopharmaceutical company's stock. Bank of America's target price suggests a potential upside of 4.78% from the stock's previous close.

XNCR has been the topic of several other reports. Wedbush increased their price objective on shares of Xencor from $26.00 to $30.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. Truist Financial lowered their target price on shares of Xencor from $29.00 to $27.00 and set a "buy" rating for the company in a report on Tuesday, July 7th. Zacks Research upgraded shares of Xencor from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. Royal Bank Of Canada increased their price target on Xencor from $19.00 to $20.00 and gave the company an "outperform" rating in a research note on Thursday, August 6th. Finally, Raymond James Financial raised their price target on Xencor from $40.00 to $46.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $31.12.

Xencor Trading Up 0.4%

Shares of XNCR traded up $0.10 during trading hours on Monday, hitting $24.82. 484,082 shares of the stock traded hands, compared to its average volume of 945,024. The business has a fifty day moving average of $22.88 and a 200-day moving average of $16.22. The firm has a market capitalization of $1.84 billion, a PE ratio of -11.44 and a beta of 0.88. Xencor has a 1-year low of $10.05 and a 1-year high of $30.61.

Xencor (NASDAQ:XNCR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping analysts' consensus estimates of ($0.80) by $0.51. The firm had revenue of $51.22 million during the quarter, compared to analyst estimates of $18.89 million. Xencor had a negative return on equity of 28.66% and a negative net margin of 155.59%.The company's revenue was up 17.4% on a year-over-year basis. During the same period last year, the company earned ($0.41) earnings per share. As a group, equities research analysts expect that Xencor will post -3.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Xencor

Institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in Xencor in the 2nd quarter worth $219,785,000. Primecap Management Co. CA acquired a new stake in shares of Xencor in the 2nd quarter valued at about $163,919,000. BVF Inc. IL lifted its holdings in shares of Xencor by 160.3% in the fourth quarter. BVF Inc. IL now owns 7,133,720 shares of the biopharmaceutical company's stock valued at $109,217,000 after purchasing an additional 4,393,579 shares in the last quarter. Legal & General Group Plc bought a new stake in shares of Xencor in the second quarter valued at about $17,568,000. Finally, Johnson & Johnson acquired a new position in shares of Xencor during the second quarter worth about $12,043,798.

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.

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