Xencor (NASDAQ:XNCR) Releases Quarterly Earnings Results, Misses Expectations By $0.28 EPS

Xencor (NASDAQ:XNCR - Get Free Report) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported ($1.11) EPS for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.28), Briefing.com reports. The business had revenue of $12.80 million for the quarter, compared to analysts' expectations of $23.07 million. Xencor had a negative net margin of 74.90% and a negative return on equity of 18.67%. The business's revenue was down 32.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.02) earnings per share.

Xencor Price Performance

NASDAQ XNCR traded down $1.06 during trading hours on Friday, hitting $22.48. The company had a trading volume of 471,061 shares, compared to its average volume of 699,155. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.36 and a current ratio of 7.36. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -10.70 and a beta of 0.77. Xencor has a 52 week low of $16.49 and a 52 week high of $28.96. The firm has a 50 day simple moving average of $21.81 and a 200 day simple moving average of $20.65.

Wall Street Analysts Forecast Growth

XNCR has been the topic of a number of recent analyst reports. Wedbush lifted their target price on Xencor from $34.00 to $36.00 and gave the stock an "outperform" rating in a research note on Friday. StockNews.com raised shares of Xencor from a "sell" rating to a "hold" rating in a research report on Saturday, March 9th. Mizuho lowered their price target on shares of Xencor from $59.00 to $50.00 and set a "buy" rating on the stock in a report on Monday, January 22nd. Royal Bank of Canada reissued an "outperform" rating and set a $32.00 price objective on shares of Xencor in a report on Wednesday, February 28th. Finally, Piper Sandler restated a "neutral" rating and issued a $24.00 target price (down from $37.00) on shares of Xencor in a research note on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Xencor presently has an average rating of "Moderate Buy" and an average price target of $36.25.

Insider Activity

In other news, CEO Bassil I. Dahiyat sold 12,528 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $23.43, for a total value of $293,531.04. Following the completion of the transaction, the chief executive officer now directly owns 300,097 shares in the company, valued at $7,031,272.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP John R. Desjarlais sold 1,280 shares of the firm's stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $23.50, for a total value of $30,080.00. Following the sale, the vice president now directly owns 186,433 shares of the company's stock, valued at $4,381,175.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bassil I. Dahiyat sold 12,528 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $23.43, for a total transaction of $293,531.04. Following the completion of the transaction, the chief executive officer now directly owns 300,097 shares in the company, valued at approximately $7,031,272.71. The disclosure for this sale can be found here. Insiders have sold a total of 101,351 shares of company stock worth $2,152,417 over the last ninety days. Company insiders own 5.23% of the company's stock.

About Xencor

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.