Xencor (NASDAQ:XNCR) Reaches New 1-Year High - Time to Buy?

Key Points

• Xencor shares surged 31.3% from the prior close to reach a new 52-week high of $33.06, with the company’s market capitalization reaching approximately $2.21 billion.
• Analyst sentiment is generally positive: the stock has a “Moderate Buy” consensus rating from MarketBeat, with a consensus price target of $34.00 and several analysts raising their targets as high as $46.00.
• Xencor reported better-than-expected quarterly results, including a loss of $0.29 per share versus the expected $0.80 loss and revenue of $51.22 million, up 17.4% year over year.

Xencor, Inc. (NASDAQ:XNCR - Get Free Report) shares hit a new 52-week high during trading on Monday. The company traded as high as $33.06 and last traded at $33.0590, with a volume of 1,885,825 shares trading hands. The stock had previously closed at $25.18.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on XNCR shares. Zacks Research upgraded shares of Xencor from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. Raymond James Financial lifted their target price on Xencor from $40.00 to $46.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, September 1st. Wall Street Zen upgraded Xencor from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 8th. Truist Financial reiterated a "buy" rating and issued a $29.00 price objective (up from $27.00) on shares of Xencor in a report on Monday, September 28th. Finally, Cantor Fitzgerald raised their target price on Xencor from $43.00 to $44.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. One equities research 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $34.00.

Xencor Stock Up 17.9%

The company has a fifty day moving average price of $25.37 and a 200 day moving average price of $18.43. The stock has a market cap of $2.21 billion, a PE ratio of -14.64 and a beta of 0.89.

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

Institutional Investors Weigh In On Xencor

Several institutional investors and hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC bought a new position in shares of Xencor in the second quarter worth about $30,000. Allworth Financial LP purchased a new stake in shares of Xencor in the 2nd quarter valued at $55,000. GAMMA Investing LLC lifted its position in Xencor by 15.5% during the third quarter. GAMMA Investing LLC now owns 4,269 shares of the biopharmaceutical company's stock valued at $107,000 after purchasing an additional 572 shares during the period. EP Wealth Advisors LLC purchased a new position in shares of Xencor during the 2nd quarter valued at about $218,000. Finally, AXQ Capital LP acquired a new stake in Xencor during the second quarter valued at $261,000.

About Xencor

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.

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