Xencor (NASDAQ:XNCR) Hits New 52-Week High Following Better-Than-Expected Earnings

Key Points

• Xencor shares reached a new 52-week high of $21.96 after the company reported quarterly EPS of $(0.29), beating the $(0.80) consensus estimate by $0.51.
• Quarterly revenue totaled $51.22 million, surpassing expectations of $18.89 million and increasing 17.4% year over year, although the company remained unprofitable with a negative net margin.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $24.62; several institutional investors, including Goldman Sachs and JPMorgan, recently increased their positions.

Xencor, Inc. (NASDAQ:XNCR - Get Free Report) shares hit a new 52-week high during trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $21.96 and last traded at $20.3590, with a volume of 77048 shares. The stock had previously closed at $19.84.

The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.80) by $0.51. Xencor had a negative return on equity of 28.77% and a negative net margin of 177.10%.The business had revenue of $51.22 million for the quarter, compared to the consensus estimate of $18.89 million. During the same quarter last year, the business posted ($0.41) EPS. The business's revenue was up 17.4% on a year-over-year basis.

Wall Street Analyst Weigh In

XNCR has been the subject of several analyst reports. Zacks Research raised 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 report on Wednesday, June 24th. Wedbush reissued an "outperform" rating and set a $26.00 target price on shares of Xencor in a research note on Thursday, July 30th. Cantor Fitzgerald boosted their price objective on Xencor from $43.00 to $44.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, JPMorgan Chase & Co. raised their target price on Xencor from $13.00 to $14.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $24.62.

Institutional Trading of Xencor

Hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC acquired a new position in Xencor during the first quarter worth about $438,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Xencor by 9.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,047 shares of the biopharmaceutical company's stock valued at $471,000 after purchasing an additional 3,692 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Xencor by 89.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 726,734 shares of the biopharmaceutical company's stock worth $7,732,000 after purchasing an additional 344,088 shares during the last quarter. Creative Planning raised its holdings in shares of Xencor by 25.3% in the 2nd quarter. Creative Planning now owns 18,130 shares of the biopharmaceutical company's stock worth $143,000 after purchasing an additional 3,661 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Xencor by 170.9% during the second quarter. JPMorgan Chase & Co. now owns 330,007 shares of the biopharmaceutical company's stock valued at $2,594,000 after purchasing an additional 208,182 shares during the last quarter.

Xencor Price Performance

The stock has a market capitalization of $1.48 billion, a P/E ratio of -8.77 and a beta of 0.85. The stock's fifty day moving average is $15.35 and its two-hundred day moving average is $13.27.

Xencor Company Profile

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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