Xencor (NASDAQ:XNCR) Given "Overweight" Rating at Cantor Fitzgerald

Key Points

• Xencor received an "overweight" rating from Cantor Fitzgerald, with a target price of $40.00, suggesting a potential upside of 231.98% from its current price.
• Despite positive sentiment from Cantor Fitzgerald, other analysts have issued lower price targets, with the Royal Bank of Canada reducing theirs from $32.00 to $15.00, indicating mixed opinions on the stock.
• Xencor reported a revenue of $43.61 million for the last quarter, surpassing projections and reflecting an 82.4% year-over-year increase, although it posted a loss of ($0.41) earnings per share (EPS).

Xencor (NASDAQ:XNCR - Get Free Report)'s stock had its "overweight" rating reiterated by equities researchers at Cantor Fitzgerald in a research note issued on Monday,Benzinga reports. They currently have a $40.00 price objective on the biopharmaceutical company's stock. Cantor Fitzgerald's price target suggests a potential upside of 231.98% from the company's current price.

A number of other research analysts also recently weighed in on XNCR. Royal Bank Of Canada decreased their price target on Xencor from $32.00 to $15.00 and set an "outperform" rating for the company in a research note on Thursday, August 21st. Bank of America lowered shares of Xencor from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $23.00 to $12.00 in a research report on Wednesday, September 3rd. Weiss Ratings reiterated a "sell (e+)" rating on shares of Xencor in a report on Saturday, September 27th. Wells Fargo & Company cut their price objective on Xencor from $33.00 to $27.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Finally, Barclays assumed coverage on Xencor in a research note on Wednesday, September 17th. They issued an "underweight" rating and a $6.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $24.22.

Xencor Stock Up 2.4%

Shares of XNCR stock opened at $12.05 on Monday. The firm has a fifty day moving average of $8.80 and a 200-day moving average of $9.01. Xencor has a 12-month low of $6.92 and a 12-month high of $27.24. The company has a market capitalization of $859.33 million, a price-to-earnings ratio of -5.06 and a beta of 0.96.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in Xencor by 77.1% during the 3rd quarter. GAMMA Investing LLC now owns 3,328 shares of the biopharmaceutical company's stock worth $39,000 after buying an additional 1,449 shares during the period. Squarepoint Ops LLC grew its holdings in shares of Xencor by 3,150.0% during the second quarter. Squarepoint Ops LLC now owns 363,153 shares of the biopharmaceutical company's stock valued at $2,854,000 after buying an additional 351,979 shares during the last quarter. Hudson Bay Capital Management LP boosted its holdings in Xencor by 5.2% during the 2nd quarter. Hudson Bay Capital Management LP now owns 485,000 shares of the biopharmaceutical company's stock worth $3,812,000 after acquiring an additional 24,110 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in Xencor by 9.3% during the second quarter. Public Sector Pension Investment Board now owns 242,652 shares of the biopharmaceutical company's stock worth $1,907,000 after buying an additional 20,681 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in Xencor by 3.3% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 70,015 shares of the biopharmaceutical company's stock worth $550,000 after acquiring an additional 2,256 shares during 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.

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