Xencor (NASDAQ:XNCR) Trading Up 5.4% - Time to Buy?

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 stock price was up 5.4% on Wednesday . The stock traded as high as $9.03 and last traded at $9.09. Approximately 129,558 shares changed hands during trading, a decline of 83% from the average daily volume of 763,540 shares. The stock had previously closed at $8.62.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on XNCR shares. Royal Bank Of Canada dropped their price objective on Xencor from $32.00 to $15.00 and set an "outperform" rating on the stock in a research note on Thursday, August 21st. Barclays began coverage on Xencor in a research note on Wednesday. They set an "underweight" rating and a $6.00 target price on the stock. Wedbush reiterated an "outperform" rating and set a $26.00 target price on shares of Xencor in a research note on Tuesday, September 2nd. Bank of America cut Xencor from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $23.00 to $12.00 in a research note on Wednesday, September 3rd. Finally, Wells Fargo & Company lowered their target price on Xencor from $33.00 to $27.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $22.25.

Xencor Stock Up 7.3%

The company has a 50-day simple moving average of $8.33 and a two-hundred day simple moving average of $9.27. The stock has a market cap of $659.35 million, a P/E ratio of -3.85 and a beta of 0.82.

Xencor (NASDAQ:XNCR - Get Free Report) last issued 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 return on equity of 25.75% and a negative net margin of 121.52%.The firm's revenue for the quarter was up 82.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.07) earnings per share. As a group, sell-side analysts forecast that Xencor, Inc. will post -3.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Xencor

Large investors have recently bought and sold shares of the business. Primecap Management Co. CA boosted its position in Xencor by 7.9% in the second quarter. Primecap Management Co. CA now owns 10,527,322 shares of the biopharmaceutical company's stock worth $82,745,000 after purchasing an additional 766,310 shares during the last quarter. BVF Inc. IL lifted its position in shares of Xencor by 19.7% during the 1st quarter. BVF Inc. IL now owns 2,740,141 shares of the biopharmaceutical company's stock valued at $29,155,000 after buying an additional 451,381 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Xencor by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,703,664 shares of the biopharmaceutical company's stock valued at $13,393,000 after buying an additional 29,316 shares in the last quarter. Braidwell LP lifted its position in shares of Xencor by 169.0% during the 1st quarter. Braidwell LP now owns 1,655,690 shares of the biopharmaceutical company's stock valued at $17,617,000 after buying an additional 1,040,159 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Xencor by 94.5% during the 2nd quarter. Bank of America Corp DE now owns 938,993 shares of the biopharmaceutical company's stock valued at $7,380,000 after buying an additional 456,302 shares in the last quarter.

Xencor Company Profile

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.

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