Xencor (NASDAQ:XNCR) Posts Quarterly Earnings Results, Misses Estimates By $0.25 EPS

Xencor (NASDAQ:XNCR) issued its quarterly earnings results on Monday. The biopharmaceutical company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.25), Briefing.com reports. The company had revenue of $16.96 million during the quarter, compared to the consensus estimate of $21.13 million. Xencor had a negative net margin of 82.23% and a negative return on equity of 20.29%. The company’s quarterly revenue was down 62.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.37) earnings per share.

Xencor Trading Down 12.0 %

NASDAQ XNCR traded down $2.14 on Wednesday, hitting $15.71. The company’s stock had a trading volume of 1,072,853 shares, compared to its average volume of 640,885. The firm has a market cap of $968.68 million, a PE ratio of -7.21 and a beta of 0.69. The company’s 50-day moving average is $20.25 and its 200 day moving average is $21.24. 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 1-year low of $15.31 and a 1-year high of $26.84.

Insider Buying and Selling

In other news, VP John R. Desjarlais sold 36,329 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $18.32, for a total transaction of $665,547.28. Following the completion of the transaction, the vice president now directly owns 192,319 shares in the company, valued at $3,523,284.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Raymond James dropped their price target on Xencor from $58.00 to $40.00 and set a “strong-buy” rating for the company in a research note on Friday, June 14th. JPMorgan Chase & Co. lowered their price objective on shares of Xencor from $30.00 to $27.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Wedbush reaffirmed an “outperform” rating and issued a $34.00 target price (down previously from $36.00) on shares of Xencor in a report on Thursday, June 13th. BMO Capital Markets reissued an “outperform” rating and set a $32.00 price target on shares of Xencor in a report on Tuesday. Finally, BTIG Research reduced their price objective on Xencor from $56.00 to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. Two investment 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.44.

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.