Wedbush Reaffirms Outperform Rating for Xencor (NASDAQ:XNCR)

Key Points

• Wedbush reaffirmed its “Outperform” rating on Xencor and maintained a $30 price target, implying approximately 19.4% upside. The analyst consensus is “Moderate Buy,” with an average target of $34.
• Xencor reported quarterly revenue of $51.22 million and an adjusted loss of $0.29 per share, beating analyst estimates; revenue increased 17.4% year over year.
• Xencor shares opened at $25.12, with a market capitalization of approximately $1.87 billion and a 52-week trading range of $10.38 to $30.61.

Xencor (NASDAQ:XNCR - Get Free Report)'s stock had its "outperform" rating reissued by stock analysts at Wedbush in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $30.00 target price on the biopharmaceutical company's stock. Wedbush's price target points to a potential upside of 19.41% from the company's current price.

XNCR has been the topic of a number of other research reports. Raymond James Financial boosted their target price on shares of Xencor from $40.00 to $46.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, September 1st. Royal Bank Of Canada boosted their target price on shares of Xencor from $19.00 to $20.00 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. Barclays boosted their target price on shares of Xencor from $27.00 to $35.00 and gave the stock an "overweight" rating in a research note on Friday, September 11th. Wells Fargo & Company began coverage on shares of Xencor in a research note on Wednesday, September 30th. They set an "overweight" rating and a $55.00 target price on the stock. Finally, Zacks Research raised shares of Xencor from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Xencor currently has an average rating of "Moderate Buy" and a consensus price target of $34.00.

Xencor Price Performance

Shares of XNCR opened at $25.12 on Wednesday. Xencor has a one year low of $10.38 and a one year high of $30.61. The company has a market cap of $1.87 billion, a P/E ratio of -11.56 and a beta of 0.89. The firm has a 50 day simple moving average of $25.24 and a two-hundred day simple moving average of $18.16.

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, beating the consensus estimate 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 business had revenue of $51.22 million during the quarter, compared to the consensus estimate of $18.89 million. During the same period in the previous year, the business earned ($0.41) earnings per share. The company's revenue was up 17.4% on a year-over-year basis. On average, analysts expect that Xencor will post -3.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Xencor

Several hedge funds and other institutional investors have recently bought and sold shares of XNCR. Integrated Wealth Concepts LLC acquired a new position in Xencor in the second quarter valued at $30,000. Allworth Financial LP acquired a new position in Xencor in the second quarter valued at $55,000. GAMMA Investing LLC lifted its holdings in Xencor by 15.5% in the third quarter. GAMMA Investing LLC now owns 4,269 shares of the biopharmaceutical company's stock valued at $107,000 after buying an additional 572 shares during the period. Fifth Third Bancorp lifted its holdings in Xencor by 3,690.2% in the first quarter. Fifth Third Bancorp now owns 17,018 shares of the biopharmaceutical company's stock valued at $205,000 after buying an additional 16,569 shares during the period. Finally, EP Wealth Advisors LLC acquired a new position in Xencor in the second quarter valued at $218,000.

Xencor Company Profile

Xencor, Inc is a clinical-stage biopharmaceutical company headquartered in Monrovia, California. Founded in 1997, the company develops engineered antibodies and other biologic medicines for the treatment of cancer, autoimmune disorders and other serious diseases.

Xencor's research is centered on its XmAb technology platform, which is designed to modify antibodies to improve their therapeutic properties or create new antibody-based mechanisms. The platform supports the development of bispecific antibodies, immune-cell engagers and antibodies with extended activity in the body.