Xencor (NASDAQ:XNCR) Sets New 52-Week High - Should You Buy?

Key Points

• Xencor shares reached a new 52-week high of $23.47, with the stock recently trading near $23.12 and above its 50-day and 200-day moving averages.
• Analyst sentiment is mixed: the consensus rating is “Hold” with a $24.86 target price, although Cantor Fitzgerald maintained an “overweight” rating and raised its target to $44.
• Xencor reported better-than-expected quarterly results, posting an adjusted loss of $0.29 per share versus estimates of $0.80 and revenue of $51.22 million, up 17.4% year over year; however, the company remains unprofitable.

Shares of Xencor, Inc. (NASDAQ:XNCR - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $23.47 and last traded at $23.12, with a volume of 962153 shares trading hands. The stock had previously closed at $23.34.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Xencor from $13.00 to $14.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. Royal Bank Of Canada boosted their price objective on Xencor from $19.00 to $20.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. Zacks Research raised Xencor from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. Wall Street Zen upgraded Xencor from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Cantor Fitzgerald lifted their target price on Xencor from $43.00 to $44.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Five investment 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 MarketBeat, the company has an average rating of "Hold" and a consensus target price of $24.86.

Xencor Trading Down 0.9%

The business has a 50-day moving average price of $17.03 and a 200 day moving average price of $13.79. The stock has a market capitalization of $1.72 billion, a P/E ratio of -10.65 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) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.80) by $0.51. Xencor had a negative net margin of 155.59% and a negative return on equity of 28.66%. The company had revenue of $51.22 million for the quarter, compared to the consensus estimate of $18.89 million. During the same quarter in the prior year, the firm earned ($0.41) earnings per share. Xencor's revenue was up 17.4% on a year-over-year basis. On average, sell-side analysts predict that Xencor, Inc. will post -3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. ProShare Advisors LLC raised its position in Xencor by 6.5% during the fourth quarter. ProShare Advisors LLC now owns 16,853 shares of the biopharmaceutical company's stock valued at $258,000 after purchasing an additional 1,026 shares during the period. Cerity Partners LLC boosted its holdings in shares of Xencor by 3.8% in the 4th quarter. Cerity Partners LLC now owns 31,302 shares of the biopharmaceutical company's stock worth $479,000 after purchasing an additional 1,143 shares during the period. State of Tennessee Department of Treasury increased its position in shares of Xencor by 6.2% during the 2nd quarter. State of Tennessee Department of Treasury now owns 30,721 shares of the biopharmaceutical company's stock valued at $241,000 after purchasing an additional 1,784 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Xencor by 3.3% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 70,015 shares of the biopharmaceutical company's stock valued at $550,000 after purchasing an additional 2,256 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Xencor by 118.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company's stock valued at $44,000 after buying an additional 3,018 shares during the period.

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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