Xencor (NASDAQ:XNCR) Given "Outperform" Rating at Wedbush

Key Points

• Wedbush has reaffirmed an "outperform" rating for Xencor (NASDAQ:XNCR) with a price target of $26.00, indicating a potential upside of 205.70% from its current price.
• Recent earnings showed Xencor reported (-$0.41) EPS, exceeding expectations, with revenues of $43.61 million, an 82.4% increase year-over-year.
• Despite a positive outlook from some analysts, others have downgraded their price targets significantly, with ranges now from $6.00 to $32.00.

Xencor (NASDAQ:XNCR - Get Free Report)'s stock had its "outperform" rating restated by equities researchers at Wedbush in a report issued on Tuesday,Benzinga reports. They currently have a $26.00 target price on the biopharmaceutical company's stock. Wedbush's price target indicates a potential upside of 204.09% from the company's current price.

A number of other research analysts also recently issued reports on XNCR. Royal Bank Of Canada decreased their price objective on Xencor from $32.00 to $15.00 and set an "outperform" rating for the company in a report on Thursday, August 21st. Wells Fargo & Company decreased their price objective on Xencor from $33.00 to $27.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Finally, Barclays decreased their price target on Xencor from $22.00 to $6.00 and set an "underweight" rating for the company in a research note on Thursday, May 8th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Xencor has a consensus rating of "Moderate Buy" and a consensus target price of $22.25.

Xencor Stock Up 2.2%

Shares of NASDAQ:XNCR traded up $0.18 during mid-day trading on Tuesday, reaching $8.55. 665,089 shares of the stock were exchanged, compared to its average volume of 719,169. The company has a market cap of $609.79 million, a P/E ratio of -3.56 and a beta of 0.82. Xencor has a one year low of $6.92 and a one year high of $27.24. The stock's 50 day simple moving average is $8.29 and its 200-day simple moving average is $9.59.

Xencor (NASDAQ:XNCR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported ($0.41) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.78) by $0.37. The business had revenue of $43.61 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company earned ($1.07) earnings per share. Analysts anticipate that Xencor will post -3.68 EPS for the current fiscal year.

Insider Transactions at Xencor

In other news, Director Richard J. Ranieri sold 2,993 shares of Xencor stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $9.22, for a total transaction of $27,595.46. Following the completion of the transaction, the director directly owned 19,183 shares in the company, valued at approximately $176,867.26. The trade was a 13.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ellen Feigal sold 2,993 shares of Xencor stock in a transaction that occurred 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 $176,867.26. This represents a 13.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,194 shares of company stock worth $103,209. 4.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Primecap Management Co. CA boosted its stake in shares of Xencor by 7.9% during the 2nd quarter. Primecap Management Co. CA now owns 10,527,322 shares of the biopharmaceutical company's stock worth $82,745,000 after acquiring an additional 766,310 shares during the period. BVF Inc. IL grew its holdings in Xencor by 19.7% in the 1st quarter. BVF Inc. IL now owns 2,740,141 shares of the biopharmaceutical company's stock valued at $29,155,000 after buying an additional 451,381 shares in the last quarter. RTW Investments LP grew its holdings in Xencor by 317.9% in the 4th quarter. RTW Investments LP now owns 2,402,883 shares of the biopharmaceutical company's stock valued at $55,218,000 after buying an additional 1,827,883 shares in the last quarter. Geode Capital Management LLC grew its holdings in Xencor by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,703,664 shares of the biopharmaceutical company's stock valued at $13,393,000 after buying an additional 29,316 shares in the last quarter. Finally, Braidwell LP grew its holdings in Xencor by 169.0% in the 1st quarter. Braidwell LP now owns 1,655,690 shares of the biopharmaceutical company's stock valued at $17,617,000 after buying an additional 1,040,159 shares in the last quarter.

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.