Xencor (NASDAQ:XNCR) Price Target Raised to $30.00

Key Points

• Wedbush raised Xencor’s price target to $30 from $26 and maintained an “outperform” rating, implying approximately 56% upside from the stock’s current price.
• Analyst sentiment is mixed but leans positive: Xencor has a “Moderate Buy” consensus rating from MarketBeat, with an average price target of $25.12 based on six Buy, three Hold and one Sell rating.
• Xencor reported quarterly EPS of -$0.29, beating estimates of -$0.80, while revenue of $51.22 million exceeded expectations and increased 17.4% year over year. Shares recently traded at $19.23, near their 12-month high of $21.96.

Xencor (NASDAQ:XNCR - Get Free Report) had its price target lifted by Wedbush from $26.00 to $30.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the biopharmaceutical company's stock. Wedbush's target price suggests a potential upside of 56.00% from the stock's current price.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of Xencor from $13.00 to $14.00 and gave the stock a "neutral" rating in a research note on Monday, May 11th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Xencor in a research report on Wednesday, June 24th. Zacks Research upgraded shares of Xencor from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $20.00 price objective on shares of Xencor in a report on Thursday. Finally, Wall Street Zen cut Xencor from a "hold" rating to a "strong sell" rating in a report on Saturday, May 9th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $25.12.

Xencor Price Performance

XNCR stock traded down $0.61 during mid-day trading on Thursday, hitting $19.23. 259,479 shares of the stock were exchanged, compared to its average volume of 838,377. The business has a fifty day moving average price of $15.35 and a 200 day moving average price of $13.27. Xencor has a 12 month low of $6.92 and a 12 month high of $21.96. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -8.39 and a beta of 0.85.

Xencor (NASDAQ:XNCR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.80) by $0.51. The firm had revenue of $51.22 million for the quarter, compared to analyst estimates of $18.89 million. Xencor had a negative return on equity of 28.77% and a negative net margin of 177.10%.The company's revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.41) EPS. As a group, equities analysts forecast that Xencor will post -3.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its holdings in Xencor by 118.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company's stock worth $44,000 after purchasing an additional 3,018 shares during the period. E Fund Management Co. Ltd. bought a new position in Xencor during the 2nd quarter valued at approximately $79,000. Wealth Enhancement Advisory Services LLC purchased a new position in Xencor during the fourth quarter valued at $81,000. iSAM Funds UK Ltd purchased a new stake in shares of Xencor in the second quarter worth $122,000. Finally, Prelude Capital Management LLC purchased a new stake in shares of Xencor in the third quarter worth $139,000.

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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