Royal Bank of Canada Boosts Xencor (NASDAQ:XNCR) Price Target to $34.00

Xencor (NASDAQ:XNCR) had its target price raised by Royal Bank of Canada from $31.00 to $34.00 in a research note published on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also issued reports on the stock. Raymond James lowered their target price on shares of Xencor from $58.00 to $40.00 and set a strong-buy rating on the stock in a research report on Friday, June 14th. Wedbush reaffirmed an outperform rating and set a $34.00 price target on shares of Xencor in a research note on Monday, September 9th. BMO Capital Markets reiterated an outperform rating and set a $32.00 price objective on shares of Xencor in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. dropped their price objective on Xencor from $30.00 to $27.00 and set an overweight rating for the company in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $34.78.

Xencor Trading Down 1.0 %

NASDAQ XNCR opened at $20.25 on Thursday. The firm’s 50-day moving average is $18.63 and its two-hundred day moving average is $20.32. Xencor has a 12 month low of $15.31 and a 12 month high of $26.84. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.92 and a quick ratio of 6.92. The stock has a market capitalization of $1.25 billion, a P/E ratio of -9.25 and a beta of 0.66.

Xencor (NASDAQ:XNCR) last issued its earnings results on Monday, August 5th. The biopharmaceutical company reported ($1.07) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.25). The firm had revenue of $16.96 million during the quarter, compared to analyst estimates of $21.13 million. Xencor had a negative net margin of 132.74% and a negative return on equity of 28.23%. The firm’s revenue was down 62.7% compared to the same quarter last year. During the same period last year, the business earned ($0.37) EPS. On average, sell-side analysts anticipate that Xencor will post -4.15 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP John R. Desjarlais sold 36,329 shares of Xencor stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $18.32, for a total transaction of $665,547.28. Following the sale, the vice president now owns 192,319 shares of the company’s stock, valued at approximately $3,523,284.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.23% of the company’s stock.

Institutional Trading of Xencor

Several institutional investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Xencor during the second quarter worth $212,000. Quarry LP bought a new stake in shares of Xencor during the second quarter worth $36,000. The Manufacturers Life Insurance Company raised its position in shares of Xencor by 22.6% during the second quarter. The Manufacturers Life Insurance Company now owns 119,988 shares of the biopharmaceutical company’s stock worth $2,271,000 after acquiring an additional 22,107 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Xencor during the second quarter worth $753,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Xencor during the second quarter worth $326,000.

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.