Xencor (NASDAQ:XNCR) Releases Earnings Results, Beats Expectations By $0.51 EPS

Key Points

• Xencor reported quarterly EPS of ($0.29), beating analyst expectations of ($0.80) by $0.51, though the company remained unprofitable with a negative net margin of 177.10%.
• Shares traded near $19.84, close to their 52-week high of $21.76, while institutional investors including Goldman Sachs and JPMorgan increased their positions.
• Analyst sentiment is broadly favorable, with a consensus “Moderate Buy” rating and an average price target of $24.25, despite some sell and strong-sell ratings.

Xencor (NASDAQ:XNCR - Get Free Report) issued its earnings results on Wednesday. The biopharmaceutical company reported ($0.29) EPS for the quarter, beating analysts' consensus estimates of ($0.80) by $0.51, Zacks reports. Xencor had a negative net margin of 177.10% and a negative return on equity of 28.77%.

Xencor Price Performance

Shares of XNCR stock traded down $0.08 during trading on Wednesday, hitting $19.84. 823,253 shares of the stock traded hands, compared to its average volume of 842,667. Xencor has a 52-week low of $6.92 and a 52-week high of $21.76. The firm has a market capitalization of $1.47 billion, a P/E ratio of -8.66 and a beta of 0.85. The firm's fifty day moving average price is $15.19 and its 200-day moving average price is $13.22.

Institutional Investors Weigh In On Xencor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XNCR. AQR Capital Management LLC acquired a new position in shares of Xencor in the 1st quarter valued at $438,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 worth $471,000 after purchasing an additional 3,692 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Xencor by 89.9% during 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 Xencor by 25.3% in the 2nd quarter. Creative Planning now owns 18,130 shares of the biopharmaceutical company's stock valued at $143,000 after buying an additional 3,661 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Xencor by 170.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 330,007 shares of the biopharmaceutical company's stock valued at $2,594,000 after buying an additional 208,182 shares during the period.

Analysts Set New Price Targets

Several analysts recently issued reports on XNCR shares. JPMorgan Chase & Co. upped their price objective on shares of Xencor from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of Xencor in a research note on Wednesday, June 24th. Wedbush restated an "outperform" rating and set a $26.00 target price on shares of Xencor in a report on Thursday, July 30th. Truist Financial dropped their price target on Xencor from $29.00 to $27.00 and set a "buy" rating for the company in a research report on Tuesday, July 7th. Finally, Wall Street Zen cut Xencor from a "hold" rating to a "strong sell" rating in a report on Saturday, May 9th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $24.25.

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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