Xencor (NASDAQ:XNCR) Given New $27.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo & Company has reduced its price target for Xencor from $33.00 to $27.00, still maintaining an "overweight" rating, suggesting a potential upside of 276.25% from its current price.
• Other analysts have varied opinions, with Barclays downgrading their target to $6.00 and putting an "underweight" rating, while seven analysts still endorse the stock with a "buy" rating.
• Xencor reported significant revenue growth of 82.4% year-over-year, achieving $43.61 million for the quarter, surpassing consensus estimates and improving its earnings from the previous year.

Xencor (NASDAQ:XNCR - Get Free Report) had its price target lowered by equities researchers at Wells Fargo & Company from $33.00 to $27.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the biopharmaceutical company's stock. Wells Fargo & Company's target price points to a potential upside of 276.25% from the company's current price.

A number of other equities analysts also recently issued reports on XNCR. Barclays cut their target price on Xencor from $22.00 to $6.00 and set an "underweight" rating for the company in a research note on Thursday, May 8th. Wedbush lowered their target price on Xencor from $31.00 to $26.00 and set an "outperform" rating on the stock in a report on Thursday. Finally, William Blair started coverage on Xencor in a research note on Monday, April 21st. They set an "outperform" rating on the stock. Two analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $26.43.

Xencor Stock Performance

Shares of XNCR stock traded down $0.31 during mid-day trading on Thursday, reaching $7.18. The stock had a trading volume of 349,084 shares, compared to its average volume of 759,745. The firm has a market cap of $510.72 million, a price-to-earnings ratio of -2.34 and a beta of 0.89. Xencor has a 1-year low of $7.07 and a 1-year high of $27.24. The business's fifty day moving average is $8.69 and its 200-day moving average is $11.18. The company has a current ratio of 5.89, a quick ratio of 5.89 and a debt-to-equity ratio of 0.16.

Xencor (NASDAQ:XNCR - Get Free Report) last released its earnings results on Monday, August 4th. The biopharmaceutical company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.37. Xencor had a negative return on equity of 31.94% and a negative net margin of 181.17%. The business had revenue of $43.61 million for the quarter, compared to the consensus estimate of $22.59 million. During the same quarter last year, the business posted ($1.07) earnings per share. The business's quarterly revenue was up 82.4% compared to the same quarter last year. On average, research analysts forecast that Xencor will post -3.68 earnings per share for the current year.

Insider Activity

In related news, Director Kurt A. Gustafson sold 2,993 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $9.22, for a total value of $27,595.46. Following the completion of the sale, the director owned 20,183 shares in the company, valued at approximately $186,087.26. This trade represents a 12.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard J. Ranieri sold 2,993 shares of Xencor stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $9.22, for a total transaction of $27,595.46. Following the completion of the transaction, the director owned 19,183 shares of the company's stock, valued at $176,867.26. This trade represents a 13.50% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,194 shares of company stock valued at $103,209. 4.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in XNCR. Sterling Capital Management LLC lifted its stake in Xencor by 732.4% in the 4th quarter. Sterling Capital Management LLC now owns 1,182 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 1,040 shares during the last quarter. New York State Teachers Retirement System raised its stake in Xencor by 2.1% during the first quarter. New York State Teachers Retirement System now owns 59,326 shares of the biopharmaceutical company's stock worth $631,000 after buying an additional 1,200 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in Xencor by 22.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,045 shares of the biopharmaceutical company's stock worth $162,000 after purchasing an additional 1,282 shares during the period. GF Fund Management CO. LTD. acquired a new stake in Xencor in the fourth quarter worth $34,000. Finally, Exchange Traded Concepts LLC grew its holdings in Xencor by 23.9% in the first quarter. Exchange Traded Concepts LLC now owns 9,814 shares of the biopharmaceutical company's stock worth $104,000 after purchasing an additional 1,896 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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