Royal Bank of Canada Trims Xencor (NASDAQ:XNCR) Target Price to $31.00

Xencor (NASDAQ:XNCR) had its price objective cut by Royal Bank of Canada from $32.00 to $31.00 in a report released on Friday, Benzinga reports. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s target price points to a potential upside of 50.63% from the stock’s previous close.

XNCR has been the subject of a number of other reports. BTIG Research lowered their price target on shares of Xencor from $56.00 to $38.00 and set a “buy” rating for the company in a report on Tuesday, April 16th. Wedbush reaffirmed an “outperform” rating and set a $34.00 price objective (down from $36.00) on shares of Xencor in a research note on Thursday. Piper Sandler reiterated a “neutral” rating and set a $24.00 target price (down from $37.00) on shares of Xencor in a report on Wednesday, February 28th. BMO Capital Markets reduced their price target on Xencor from $38.00 to $34.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. Finally, StockNews.com upgraded Xencor from a “sell” rating to a “hold” rating in a report on Saturday, March 9th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.38.

Xencor Stock Performance

NASDAQ XNCR opened at $20.58 on Friday. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -9.40 and a beta of 0.82. The company has a 50-day simple moving average of $21.88 and a two-hundred day simple moving average of $21.48. The company has a quick ratio of 7.08, a current ratio of 7.08 and a debt-to-equity ratio of 0.02. Xencor has a 12-month low of $16.49 and a 12-month high of $26.84.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.28). Xencor had a negative return on equity of 20.29% and a negative net margin of 82.23%. The company had revenue of $12.80 million for the quarter, compared to the consensus estimate of $23.07 million. During the same quarter in the previous year, the business earned ($1.02) earnings per share. Xencor’s revenue was down 32.3% compared to the same quarter last year. On average, equities analysts forecast that Xencor will post -3.5 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Primecap Management Co. CA grew its stake in Xencor by 8.8% in the fourth quarter. Primecap Management Co. CA now owns 8,901,607 shares of the biopharmaceutical company’s stock worth $188,981,000 after purchasing an additional 717,401 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Xencor by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 7,011,042 shares of the biopharmaceutical company’s stock valued at $155,154,000 after buying an additional 243,793 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Xencor by 9.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,819,656 shares of the biopharmaceutical company’s stock worth $84,530,000 after buying an additional 335,881 shares during the period. Armistice Capital LLC grew its position in shares of Xencor by 1.5% in the 4th quarter. Armistice Capital LLC now owns 1,500,000 shares of the biopharmaceutical company’s stock worth $31,845,000 after buying an additional 22,000 shares during the period. Finally, Darwin Global Management Ltd. bought a new position in shares of Xencor in the 1st quarter worth about $24,557,000.

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.