Wedbush Reiterates "Outperform" Rating for Xencor (NASDAQ:XNCR)

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 reaffirmed by stock analysts at Wedbush in a research note issued on Tuesday,Benzinga reports. They presently have a $26.00 price target on the biopharmaceutical company's stock. Wedbush's price target would suggest a potential upside of 205.70% from the company's current price.

A number of other analysts have also issued reports on the stock. Royal Bank Of Canada lowered their target price on shares of Xencor from $32.00 to $15.00 and set an "outperform" rating for the company in a research note on Thursday, August 21st. Barclays cut their price objective on shares of Xencor from $22.00 to $6.00 and set an "underweight" rating on the stock in a report on Thursday, May 8th. Finally, Wells Fargo & Company cut their price target on shares of Xencor from $33.00 to $27.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.71.

Xencor Trading Up 4.6%

Shares of NASDAQ XNCR traded up $0.38 during midday trading on Tuesday, hitting $8.51. The company's stock had a trading volume of 196,018 shares, compared to its average volume of 759,404. The stock has a fifty day moving average price of $8.28 and a 200 day moving average price of $9.77. The firm has a market capitalization of $606.58 million, a price-to-earnings ratio of -3.55 and a beta of 0.82. Xencor has a one year low of $6.92 and a one year high of $27.24.

Xencor (NASDAQ:XNCR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.37. The company had revenue of $43.61 million during the quarter, compared to analyst estimates of $22.59 million. Xencor had a negative net margin of 121.52% and a negative return on equity of 25.75%. 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) EPS. On average, equities research analysts predict that Xencor will post -3.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Richard J. Ranieri sold 2,993 shares of the firm's 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 directly owned 19,183 shares of the company's stock, valued at approximately $176,867.26. This trade represents a 13.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 sale, the director directly owned 19,183 shares in the company, valued at $176,867.26. The trade was a 13.50% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,194 shares of company stock worth $103,209. 5.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Xencor

A number of large investors have recently made changes to their positions in XNCR. GF Fund Management CO. LTD. bought a new position in shares of Xencor in the 4th quarter worth about $34,000. State of Wyoming purchased a new position in Xencor in the first quarter valued at approximately $34,000. CWM LLC lifted its position in shares of Xencor by 195.5% during the first quarter. CWM LLC now owns 3,372 shares of the biopharmaceutical company's stock worth $36,000 after acquiring an additional 2,231 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Xencor by 118.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company's stock worth $44,000 after acquiring an additional 3,018 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Xencor by 82.8% in the second quarter. PNC Financial Services Group Inc. now owns 5,982 shares of the biopharmaceutical company's stock worth $47,000 after purchasing an additional 2,709 shares during the period.

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.

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