Xencor (NASDAQ:XNCR) Given New $26.00 Price Target at Wedbush

Key Points

• Wedbush has reduced Xencor's price target from $31.00 to $26.00, while maintaining an "outperform" rating, indicating a potential upside of 245.74% from the stock's previous close.
• Barclays downgraded Xencor's price target significantly from $22.00 to $6.00, assigning an "underweight" rating, contributing to varied analyst opinions with two sell ratings and seven buy ratings.
• Xencor reported a profit of ($0.41) earnings per share, surpassing estimates and showing an 82.4% increase in revenue compared to the same quarter last year.

Xencor (NASDAQ:XNCR - Get Free Report) had its price objective cut by analysts at Wedbush from $31.00 to $26.00 in a research note issued on Thursday, MarketBeat.com reports. The firm currently has an "outperform" rating on the biopharmaceutical company's stock. Wedbush's price target would indicate a potential upside of 259.61% from the company's current price.

A number of other analysts have also commented on the company. William Blair initiated coverage on Xencor in a research report on Monday, April 21st. They issued an "outperform" rating for the company. Barclays lowered their price objective on Xencor from $22.00 to $6.00 and set an "underweight" rating for the company in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $26.43.

Xencor Price Performance

Shares of Xencor stock traded down $0.09 during midday trading on Thursday, hitting $7.23. The company had a trading volume of 872,504 shares, compared to its average volume of 608,290. The business's 50 day simple moving average is $8.67 and its two-hundred day simple moving average is $11.00. The stock has a market cap of $515.64 million, a PE ratio of -3.01 and a beta of 0.89. Xencor has a 1-year low of $7.07 and a 1-year high of $27.24.

Xencor (NASDAQ:XNCR - Get Free Report) last issued its earnings results on Wednesday, August 6th. The biopharmaceutical company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.37. The firm had revenue of $43.61 million during the quarter, compared to analysts' expectations of $22.59 million. Xencor had a negative return on equity of 25.75% and a negative net margin of 121.52%. Xencor's quarterly revenue was up 82.4% compared to the same quarter last year. During the same period last year, the business earned ($1.07) earnings per share. On average, sell-side analysts expect that Xencor will post -3.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other Xencor news, Director Ellen Feigal sold 2,993 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $9.22, for a total value of $27,595.46. Following the transaction, the director owned 19,183 shares of the company's stock, valued at approximately $176,867.26. The trade was a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kurt A. Gustafson sold 2,993 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $9.22, for a total value of $27,595.46. Following the completion of the transaction, the director directly owned 20,183 shares in the company, valued at approximately $186,087.26. This represents a 12.91% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,194 shares of company stock worth $103,209. 4.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Xencor

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. raised its position in Xencor by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 348,726 shares of the biopharmaceutical company's stock valued at $3,710,000 after purchasing an additional 8,581 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Xencor in the 4th quarter worth approximately $632,000. Raymond James Financial Inc. bought a new position in Xencor during the 4th quarter valued at approximately $2,329,000. Deutsche Bank AG increased its position in Xencor by 53.1% during the 4th quarter. Deutsche Bank AG now owns 58,041 shares of the biopharmaceutical company's stock valued at $1,334,000 after buying an additional 20,128 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Xencor by 7.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,501,532 shares of the biopharmaceutical company's stock valued at $34,509,000 after buying an additional 102,297 shares in the last quarter.

Xencor Company Profile

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.