Xencor (NASDAQ:XNCR) Given Outperform Rating at Wedbush

Wedbush restated their outperform rating on shares of Xencor (NASDAQ:XNCR) in a report published on Thursday morning,RTT News reports. Wedbush currently has a $38.00 price target on the biopharmaceutical company’s stock.

A number of other research analysts have also weighed in on the stock. Royal Bank of Canada raised their price target on shares of Xencor from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. BMO Capital Markets restated an “outperform” rating and issued a $32.00 target price on shares of Xencor in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. reduced their price objective on Xencor from $30.00 to $27.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.56.

Xencor Stock Performance

Xencor stock traded up $0.55 during midday trading on Thursday, reaching $23.73. 109,778 shares of the company’s stock were exchanged, compared to its average volume of 594,756. Xencor has a 52 week low of $15.31 and a 52 week high of $26.84. The stock’s 50-day simple moving average is $20.33 and its 200 day simple moving average is $20.23. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.92 and a current ratio of 6.92. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -7.38 and a beta of 0.66.

Xencor (NASDAQ:XNCR) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) EPS for the quarter, beating the consensus estimate of ($0.98) by $0.27. Xencor had a negative net margin of 232.77% and a negative return on equity of 32.25%. The company had revenue of $10.70 million during the quarter, compared to analysts’ expectations of $14.59 million. During the same period in the previous year, the company earned ($0.40) EPS. The business’s revenue for the quarter was down 81.9% compared to the same quarter last year. On average, analysts expect that Xencor will post -4.11 earnings per share for the current fiscal year.

Institutional Trading of Xencor

Large investors have recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in shares of Xencor in the 2nd quarter valued at $36,000. KBC Group NV lifted its stake in Xencor by 63.5% in the third quarter. KBC Group NV now owns 3,123 shares of the biopharmaceutical company’s stock valued at $63,000 after buying an additional 1,213 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Xencor during the second quarter worth about $154,000. Acadian Asset Management LLC acquired a new position in shares of Xencor during the first quarter worth about $206,000. Finally, XTX Topco Ltd acquired a new stake in Xencor in the second quarter valued at $196,000.

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.