Xencor (NASDAQ:XNCR) Reaches New 52-Week High - Here's Why

Key Points

• Xencor shares reached a new 52-week high, trading as high as $28.31 and recently at $28.4590, up 3.2%. The stock’s 50-day and 200-day moving averages were $18.22 and $14.20, respectively.
• The company exceeded quarterly expectations, reporting an adjusted loss of $0.29 per share versus the consensus estimate of a $0.80 loss, while revenue rose 17.4% year over year to $51.22 million.
• Analyst sentiment remains mixed: five analysts rate Xencor a Buy, three rate it Hold and one rates it Sell. The consensus rating is Hold, with an average price target of $24.86.

Shares of Xencor, Inc. (NASDAQ:XNCR - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $28.31 and last traded at $28.4590, with a volume of 170909 shares trading hands. The stock had previously closed at $27.80.

Analysts Set New Price Targets

XNCR has been the topic of several analyst reports. Royal Bank Of Canada boosted their target price on Xencor from $19.00 to $20.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Zacks Research upgraded Xencor from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Wall Street Zen raised Xencor from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 8th. Truist Financial dropped their price target on shares of Xencor from $29.00 to $27.00 and set a "buy" rating on the stock in a research note on Tuesday, July 7th. 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. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $24.86.

Xencor Trading Up 3.2%

The firm has a 50 day simple moving average of $18.22 and a 200 day simple moving average of $14.20. The firm has a market capitalization of $2.13 billion, a PE ratio of -13.25 and a beta of 0.85.

Xencor (NASDAQ:XNCR - Get Free Report) last posted its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping analysts' consensus estimates of ($0.80) by $0.51. Xencor had a negative return on equity of 28.66% and a negative net margin of 155.59%.The business had revenue of $51.22 million during the quarter, compared to analyst estimates of $18.89 million. During the same quarter last year, the company earned ($0.41) EPS. The company's quarterly revenue was up 17.4% compared to the same quarter last year. Research analysts forecast that Xencor, Inc. will post -3 earnings per share for the current year.

Hedge Funds Weigh In On Xencor

A number of hedge funds have recently bought and sold shares of XNCR. Allworth Financial LP purchased a new stake in shares of Xencor during the 2nd quarter valued at about $55,000. Tower Research Capital LLC TRC raised its holdings in shares of Xencor by 118.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company's stock valued at $44,000 after purchasing an additional 3,018 shares during the last quarter. E Fund Management Co. Ltd. purchased a new position in shares of Xencor during the second quarter valued at approximately $79,000. Norges Bank bought a new position in Xencor during the fourth quarter valued at approximately $175,000. Finally, Prelude Capital Management LLC bought a new position in Xencor during the third quarter valued at approximately $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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