Xencor (NASDAQ:XNCR) Reaches New 1-Year High - What's Next?

Key Points

• Xencor shares reached a new 52-week high, trading around $33.90 after closing the prior session at $30.64.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $39.33, with several firms recently raising targets.
• In its latest reported quarter, Xencor lost $0.29 per share—better than the $0.80 loss analysts expected—and posted $51.22 million in revenue, above estimates of $18.89 million.

Shares of Xencor, Inc. (NASDAQ:XNCR - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday. The company traded as high as $33.86 and last traded at $33.90, with a volume of 825,662 shares trading hands. The stock had previously closed at $30.64.

Wall Street Analysts Forecast Growth

XNCR has been the subject of a number of analyst reports. Barclays set a $45.00 target price on shares of Xencor and gave the stock an "overweight" rating in a report on Monday, October 26th. Wall Street Zen upgraded Xencor from a "strong sell" rating to a "hold" rating in a report on Saturday, August 8th. Wedbush upped their price target on Xencor from $30.00 to $45.00 and gave the company an "outperform" rating in a research report on Tuesday, October 27th. Bank of America increased their price objective on Xencor from $20.00 to $26.00 and gave the stock a "neutral" rating in a report on Monday, September 21st. Finally, Royal Bank Of Canada lifted their price objective on Xencor from $20.00 to $43.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 27th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Xencor presently has a consensus rating of "Moderate Buy" and an average price target of $39.33.

Xencor Trading Up 14.1%

The business has a fifty day simple moving average of $25.81 and a two-hundred day simple moving average of $17.13. The stock has a market cap of $2.60 billion, a PE ratio of -16.01 and a beta of 0.78.

Xencor (NASDAQ:XNCR - Get Free Report) last announced its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business's revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.41) EPS. On average, research analysts predict that Xencor, Inc. will post -3.05 earnings per share for the current year.

Hedge Funds Weigh In On Xencor

A number of institutional investors have recently added to or reduced their stakes in XNCR. Alps Advisors Inc. grew its stake in shares of Xencor by 32.0% in the 3rd quarter. Alps Advisors Inc. now owns 98,512 shares of the biopharmaceutical company's stock worth $2,458,000 after buying an additional 23,866 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Xencor during the third quarter valued at $95,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Xencor in the third quarter worth $414,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Xencor by 15.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,567 shares of the biopharmaceutical company's stock valued at $339,000 after acquiring an additional 1,767 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. boosted its stake in Xencor by 31.0% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 5,804 shares of the biopharmaceutical company's stock worth $145,000 after purchasing an additional 1,373 shares in the last quarter.

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.

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