Barclays Begins Coverage on Xencor (NASDAQ:XNCR)

Key Points

• Barclays has reissued an "underweight" rating for Xencor, setting a price target of $6.00, indicating a potential downside of 30.39% from its current stock price.
• Other analysts have downgraded Xencor's ratings, with Bank of America lowering its target to $12.00 and Royal Bank of Canada to $15.00, while the average consensus target price is around $22.25.
• Xencor recently reported a quarterly earnings result of ($0.41) EPS, surpassing analysts' expectations and demonstrating a substantial 82.4% increase in revenue compared to the previous year.

Equities research analysts at Barclays initiated coverage on shares of Xencor (NASDAQ:XNCR - Get Free Report) in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm set an "underweight" rating and a $6.00 price target on the biopharmaceutical company's stock. Barclays's target price suggests a potential downside of 41.69% from the stock's previous close.

XNCR has been the subject of a number of other reports. Wells Fargo & Company cut their target price on Xencor from $33.00 to $27.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Royal Bank Of Canada cut their target price 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 Xencor from a "buy" rating to a "neutral" rating and cut their target price for the company from $23.00 to $12.00 in a research note on Wednesday, September 3rd. Finally, Wedbush restated an "outperform" rating and issued a $26.00 target price on shares of Xencor in a research note on Tuesday, September 2nd. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $22.25.

Xencor Stock Performance

Shares of XNCR traded up $0.26 during mid-day trading on Wednesday, hitting $10.29. The company's stock had a trading volume of 4,502,615 shares, compared to its average volume of 883,283. Xencor has a one year low of $6.92 and a one year high of $27.24. The firm has a market capitalization of $733.88 million, a PE ratio of -4.29 and a beta of 0.82. The stock's 50-day moving average is $8.38 and its two-hundred day moving average is $9.18.

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 for the quarter, beating the consensus estimate of ($0.78) by $0.37. The company had revenue of $43.61 million during the quarter, compared to analysts' expectations of $22.59 million. Xencor had a negative return on equity of 25.75% and a negative net margin of 121.52%.Xencor's revenue for the quarter was up 82.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.07) earnings per share. Analysts expect that Xencor will post -3.68 EPS for the current fiscal year.

Institutional Trading of Xencor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. acquired a new stake in Xencor in the fourth quarter worth about $34,000. State of Wyoming acquired a new position in shares of Xencor during the 1st quarter worth about $34,000. CWM LLC grew its position in shares of Xencor by 195.5% during the 1st quarter. CWM LLC now owns 3,372 shares of the biopharmaceutical company's stock worth $36,000 after buying an additional 2,231 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Xencor by 118.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company's stock worth $44,000 after buying an additional 3,018 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of Xencor by 82.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,982 shares of the biopharmaceutical company's stock worth $47,000 after buying an additional 2,709 shares during the period.

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.