BTIG Research Lowers Xencor (NASDAQ:XNCR) Price Target to $38.00

Xencor (NASDAQ:XNCR - Free Report) had its price objective reduced by BTIG Research from $56.00 to $38.00 in a report issued on Tuesday morning, Marketbeat Ratings reports. They currently have a buy rating on the biopharmaceutical company's stock.

A number of other brokerages have also recently issued reports on XNCR. Wedbush decreased their target price on Xencor from $36.00 to $34.00 and set an outperform rating for the company in a report on Wednesday, February 28th. BMO Capital Markets decreased their target price on Xencor from $38.00 to $34.00 and set an outperform rating for the company in a report on Wednesday, February 28th. Mizuho reduced their price target on Xencor from $59.00 to $50.00 and set a buy rating on the stock in a research report on Monday, January 22nd. Royal Bank of Canada reissued an outperform rating and set a $32.00 price target on shares of Xencor in a research report on Wednesday, February 28th. Finally, StockNews.com raised Xencor from a sell rating to a hold rating in a research report on Saturday, March 9th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $36.00.

Xencor Price Performance

Xencor stock traded down $1.19 during midday trading on Tuesday, reaching $18.92. 499,272 shares of the company were exchanged, compared to its average volume of 701,060. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -9.01 and a beta of 0.76. The firm's 50-day simple moving average is $22.24 and its 200-day simple moving average is $20.40. Xencor has a 1 year low of $16.49 and a 1 year high of $30.21. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.36 and a current ratio of 7.36.

Xencor (NASDAQ:XNCR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($0.31) EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.67). The company had revenue of $44.70 million for the quarter, compared to analysts' expectations of $77.63 million. Xencor had a negative return on equity of 18.67% and a negative net margin of 74.90%. The company's revenue for the quarter was up 106.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.20) EPS. On average, analysts anticipate that Xencor will post -3.25 EPS for the current year.

Insider Buying and Selling at Xencor

In other Xencor news, VP John R. Desjarlais sold 54,108 shares of the company's stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $19.38, for a total value of $1,048,613.04. Following the transaction, the vice president now directly owns 161,675 shares of the company's stock, valued at approximately $3,133,261.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP John R. Desjarlais sold 54,108 shares of the business's stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $19.38, for a total value of $1,048,613.04. Following the completion of the sale, the vice president now directly owns 161,675 shares in the company, valued at approximately $3,133,261.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kurt A. Gustafson sold 14,000 shares of the business's stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $23.18, for a total value of $324,520.00. Following the completion of the sale, the director now owns 6,007 shares of the company's stock, valued at $139,242.26. The disclosure for this sale can be found here. Insiders have sold a total of 101,351 shares of company stock valued at $2,152,417 in the last three months. Corporate insiders own 4.97% of the company's stock.

Institutional Investors Weigh In On Xencor

Several large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in Xencor by 153.7% in the first quarter. GAMMA Investing LLC now owns 2,172 shares of the biopharmaceutical company's stock worth $48,000 after buying an additional 1,316 shares during the period. Los Angeles Capital Management LLC bought a new position in Xencor during the first quarter valued at about $229,000. Vanguard Group Inc. boosted its stake in Xencor by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 6,767,249 shares of the biopharmaceutical company's stock valued at $143,669,000 after buying an additional 115,886 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Xencor in the 4th quarter valued at $879,000. Finally, Goldman Sachs Group Inc. boosted its position in Xencor by 138.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 437,900 shares of the biopharmaceutical company's stock worth $9,297,000 after acquiring an additional 254,537 shares during the period.

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.