Xencor (NASDAQ:XNCR) Trading Up 5.4% Following Analyst Upgrade

Key Points

• Xencor's stock increased by 5.4% on Wednesday, trading as high as $9.09, despite a significant decline in trading volume.
• Analysts have mixed opinions on Xencor, with price targets ranging from $6.00 to $32.00 and a consensus rating of "Moderate Buy".
• In its latest earnings report, Xencor reported revenues of $43.61 million, significantly exceeding expectations, though it continues to operate at a loss with a negative P/E ratio of -3.85.

Xencor, Inc. (NASDAQ:XNCR - Get Free Report)'s share price rose 5.4% on Wednesday after Barclays upgraded the stock to a strong sell rating. The stock traded as high as $9.03 and last traded at $9.09. Approximately 129,558 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 763,540 shares. The stock had previously closed at $8.62.

XNCR has been the subject of several other reports. Bank of America downgraded shares of Xencor from a "buy" rating to a "neutral" rating and decreased their price target for the company from $23.00 to $12.00 in a research note on Wednesday, September 3rd. Wedbush reaffirmed an "outperform" rating and issued a $26.00 price objective on shares of Xencor in a research report on Tuesday, September 2nd. Royal Bank Of Canada lowered their price objective on shares of Xencor from $32.00 to $15.00 and set an "outperform" rating on the stock in a research report on Thursday, August 21st. Finally, Wells Fargo & Company lowered their price objective on shares of Xencor from $33.00 to $27.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $22.25.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. bought a new position in shares of Xencor in the 4th quarter worth about $34,000. State of Wyoming purchased a new stake in shares of Xencor during the 1st quarter valued at about $34,000. CWM LLC boosted its holdings in shares of Xencor by 195.5% during the 1st quarter. CWM LLC now owns 3,372 shares of the biopharmaceutical company's stock valued at $36,000 after acquiring an additional 2,231 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of Xencor in the fourth quarter worth approximately $101,000. Finally, AlphaQuest LLC purchased a new position in shares of Xencor in the first quarter worth approximately $56,000.

Xencor Trading Up 2.6%

The company has a market cap of $733.88 million, a P/E ratio of -4.29 and a beta of 0.82. The business's 50 day simple moving average is $8.38 and its 200 day simple moving average is $9.15.

Xencor (NASDAQ:XNCR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.37. The company had revenue of $43.61 million for the quarter, compared to analysts' expectations of $22.59 million. Xencor had a negative net margin of 121.52% and a negative return on equity of 25.75%. Xencor's quarterly revenue was up 82.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.07) earnings per share. Sell-side analysts anticipate that Xencor, Inc. will post -3.68 EPS for the current year.

About Xencor

Xencor, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of engineered monoclonal antibody and cytokine therapeutics to treat patients with cancer and autoimmune diseases. The company provides Sotrovimab that targets the SARS-CoV-2 virus; Ultomiris for the treatment of patients with paroxysmal nocturnal hemoglobinuria and atypical hemolytic uremic syndrome; and Monjuvi for the treatment of patients with relapsed or refractory diffuse large B-cell lymphoma.