Wedbush Reiterates Outperform Rating for Xencor (NASDAQ:XNCR)

Key Points

• Wedbush reaffirmed its “outperform” rating on Xencor and maintained a $26 price target, implying approximately 30.4% upside from the stock’s $19.94 opening price.
• Analyst sentiment is mixed but leans positive: six analysts rate Xencor a Buy, three a Hold, and one a Sell, producing a “Moderate Buy” consensus with a $24.25 average target.
• Xencor’s latest quarterly results were weak, with a $1.71 per-share loss versus the expected $0.75 loss and revenue of $4.52 million versus estimates of $27.86 million; revenue declined 86.2% year over year.

Xencor (NASDAQ:XNCR - Get Free Report)'s stock had its "outperform" rating reaffirmed by equities researchers at Wedbush in a research report issued on Thursday,Benzinga reports. They presently have a $26.00 price objective on the biopharmaceutical company's stock. Wedbush's price objective would suggest a potential upside of 30.42% from the stock's current price.

Several other research firms have also recently commented on XNCR. Zacks Research upgraded shares of Xencor from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Xencor in a research note on Wednesday, June 24th. Truist Financial cut their target price on shares of Xencor from $29.00 to $27.00 and set a "buy" rating for the company in a research report on Tuesday, July 7th. JPMorgan Chase & Co. lifted their target price on shares of Xencor from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. Finally, Wall Street Zen cut shares of Xencor from a "hold" rating to a "strong sell" rating in a report on Saturday, May 9th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Xencor presently has an average rating of "Moderate Buy" and a consensus target price of $24.25.

Xencor Trading Up 2.1%

Shares of Xencor stock opened at $19.94 on Thursday. The stock has a 50-day moving average price of $14.48 and a 200 day moving average price of $13.05. The company has a market cap of $1.48 billion, a P/E ratio of -8.65 and a beta of 0.86. Xencor has a 1 year low of $6.92 and a 1 year high of $21.26.

Xencor (NASDAQ:XNCR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported ($1.71) EPS for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.96). The business had revenue of $4.52 million for the quarter, compared to analyst estimates of $27.86 million. Xencor had a negative return on equity of 28.77% and a negative net margin of 177.10%.The company's revenue was down 86.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.66) earnings per share. On average, equities analysts forecast that Xencor will post -3.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Xencor

Large investors have recently made changes to their positions in the company. ADAR1 Capital Management LLC increased its holdings in Xencor by 66.8% in the first quarter. ADAR1 Capital Management LLC now owns 93,665 shares of the biopharmaceutical company's stock worth $1,130,000 after buying an additional 37,500 shares during the last quarter. Quantinno Capital Management LP grew its position in Xencor by 21.1% in the first quarter. Quantinno Capital Management LP now owns 57,077 shares of the biopharmaceutical company's stock worth $688,000 after acquiring an additional 9,943 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Xencor by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,294,887 shares of the biopharmaceutical company's stock worth $15,613,000 after acquiring an additional 45,599 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Xencor by 2.0% during the 1st quarter. Principal Financial Group Inc. now owns 347,078 shares of the biopharmaceutical company's stock worth $4,186,000 after purchasing an additional 6,752 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Xencor by 3,690.2% during the 1st quarter. Fifth Third Bancorp now owns 17,018 shares of the biopharmaceutical company's stock worth $205,000 after purchasing an additional 16,569 shares during the last quarter.

About Xencor

Xencor, Inc is a clinical-stage biopharmaceutical company focused on the design and development of engineered protein therapeutics for the treatment of autoimmune diseases, cancer and neurological disorders. The company applies its proprietary XmAb® platform to manipulate antibody structure and function, creating molecules with enhanced immune engagement and extended half-life. Xencor's research programs span a range of therapeutic modalities, including monoclonal antibodies, bispecific antibodies and cytokine-based fusion proteins.

The XmAb® platform enables precise modification of the Fc region to augment key properties such as receptor binding, effector function and pharmacokinetics.

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