Xencor (NASDAQ:XNCR) Reaches New 1-Year High - Should You Buy?

Key Points

• Xencor shares hit a new 52-week high, reaching $21.64 and closing around $21.32, up 10.1% for the session. The stock trades above its 50-day and 200-day moving averages.
• Analyst sentiment is generally positive, with six Buy, three Hold and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $24.25.
• The company’s latest quarter showed significant weakness: Xencor reported an EPS loss of $1.71 versus expectations of $0.75 and revenue of $4.52 million versus estimates of $27.86 million, with revenue down 86.2% year over year.

Xencor, Inc. (NASDAQ:XNCR - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The company traded as high as $21.64 and last traded at $21.3210, with a volume of 776533 shares traded. The stock had previously closed at $19.53.

Wall Street Analysts Forecast Growth

XNCR has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on Xencor from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. Wedbush reiterated an "outperform" rating and set a $26.00 price objective on shares of Xencor in a research note on Thursday. Truist Financial dropped their target price on Xencor from $29.00 to $27.00 and set a "buy" rating on the stock in a report on Tuesday, July 7th. Zacks Research raised shares of Xencor from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Xencor in a research report on Wednesday, June 24th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $24.25.

Xencor Trading Up 10.1%

The stock has a 50-day moving average of $14.48 and a 200-day moving average of $13.05. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -9.41 and a beta of 0.86.

Xencor (NASDAQ:XNCR - Get Free Report) last posted its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($1.71) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.75) by ($0.96). The firm had revenue of $4.52 million for the quarter, compared to analyst estimates of $27.86 million. Xencor had a negative net margin of 177.10% and a negative return on equity of 28.77%. The company's revenue for the quarter was down 86.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.66) earnings per share. As a group, research analysts expect that Xencor, Inc. will post -3.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in XNCR. AQR Capital Management LLC bought a new stake in Xencor in the first quarter worth about $438,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 worth $471,000 after acquiring an additional 3,692 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Xencor by 89.9% during the first 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 period. Creative Planning grew its holdings in shares of Xencor by 25.3% during the 2nd quarter. Creative Planning now owns 18,130 shares of the biopharmaceutical company's stock valued at $143,000 after acquiring an additional 3,661 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Xencor by 170.9% in 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 in 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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