Xencor (NASDAQ:XNCR) Price Target Raised to $44.00 at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald raised Xencor’s price target to $44 from $43 and maintained an “overweight” rating, implying roughly 122% upside from the stock’s $19.84 price.
• Analyst sentiment is mixed but leans positive: Xencor has an overall “Moderate Buy” rating, with six Buy, three Hold and one Sell recommendation; the average price target is $24.50.
• Xencor reported a quarterly loss of $0.29 per share, beating expectations for a $0.80 loss, while revenue of $51.22 million exceeded estimates and rose 17.4% year over year.

Xencor (NASDAQ:XNCR - Get Free Report) had its target price boosted by investment analysts at Cantor Fitzgerald from $43.00 to $44.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the biopharmaceutical company's stock. Cantor Fitzgerald's target price would indicate a potential upside of 121.77% from the stock's current price.

Other equities analysts have also issued reports about the stock. Zacks Research raised shares of Xencor from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Truist Financial dropped their target price on Xencor from $29.00 to $27.00 and set a "buy" rating on the stock in a research note on Tuesday, July 7th. Wedbush reiterated an "outperform" rating and issued a $26.00 price target on shares of Xencor in a research note on Thursday, July 30th. Wall Street Zen lowered Xencor from a "hold" rating to a "strong sell" rating in a research note on Saturday, May 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Xencor from $13.00 to $14.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Xencor has an average rating of "Moderate Buy" and an average price target of $24.50.

Xencor Price Performance

Shares of XNCR stock opened at $19.84 on Thursday. The stock's 50-day moving average is $15.35 and its 200 day moving average is $13.27. Xencor has a 1-year low of $6.92 and a 1-year high of $21.76. The company has a market cap of $1.47 billion, a P/E ratio of -8.66 and a beta of 0.85.

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

Institutional Trading of Xencor

Several institutional investors and hedge funds have recently bought and sold shares of XNCR. BVF Inc. IL grew its position in Xencor by 160.3% during the 4th quarter. BVF Inc. IL now owns 7,133,720 shares of the biopharmaceutical company's stock worth $109,217,000 after purchasing an additional 4,393,579 shares during the period. Legal & General Group Plc lifted its holdings in shares of Xencor by 603.7% in the 3rd quarter. Legal & General Group Plc now owns 1,273,000 shares of the biopharmaceutical company's stock valued at $14,932,000 after buying an additional 1,092,095 shares during the period. State Street Corp lifted its holdings in shares of Xencor by 22.7% in the 4th quarter. State Street Corp now owns 4,507,254 shares of the biopharmaceutical company's stock valued at $69,006,000 after buying an additional 833,423 shares during the period. Jefferies Financial Group Inc. boosted its stake in shares of Xencor by 620.4% in the fourth quarter. Jefferies Financial Group Inc. now owns 720,440 shares of the biopharmaceutical company's stock worth $11,030,000 after buying an additional 620,440 shares during the last quarter. Finally, RTW Investments LP boosted its stake in shares of Xencor by 8.9% in the fourth quarter. RTW Investments LP now owns 6,777,461 shares of the biopharmaceutical company's stock worth $103,763,000 after buying an additional 556,407 shares during the last quarter.

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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