Xencor (NASDAQ:XNCR) Stock Rated Overweight in New Coverage at Wells Fargo & Company

Analysts at Wells Fargo & Company started coverage on shares of Xencor (NASDAQ:XNCR) in a report released on Wednesday. The brokerage set an “overweight” rating and a $55.00 price target on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 114.22% from the stock’s current price.

A number of other research firms also recently weighed in on XNCR. Truist Financial reaffirmed a “buy” rating and set a $29.00 price target (up from $27.00) on shares of Xencor in a research note on Monday. Wedbush upped their price target on Xencor from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Cantor Fitzgerald raised their price objective on Xencor from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. lifted their price objective on Xencor from $14.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, September 3rd. Finally, Bank of America raised their price target on shares of Xencor from $20.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Xencor has a consensus rating of “Moderate Buy” and an average target price of $34.00.

Xencor Price Performance

NASDAQ:XNCR traded up $0.67 during mid-day trading on Wednesday, reaching $25.67. The company’s stock had a trading volume of 36,738 shares, compared to its average volume of 955,599. The stock has a market cap of $1.91 billion, a P/E ratio of -11.87 and a beta of 0.88. The company’s fifty day simple moving average is $24.00 and its two-hundred day simple moving average is $16.85. Xencor has a twelve month low of $10.38 and a twelve month high of $30.61.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.51. Xencor had a negative net margin of 155.59% and a negative return on equity of 28.66%. The company had revenue of $51.22 million during the quarter, compared to the consensus estimate of $18.89 million. During the same quarter in the prior year, the company posted ($0.41) EPS. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. Sell-side analysts expect that Xencor will post -3.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Xencor

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. WINTON GROUP Ltd grew its position in Xencor by 1.5% in the second quarter. WINTON GROUP Ltd now owns 106,247 shares of the biopharmaceutical company’s stock valued at $1,711,000 after acquiring an additional 1,534 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Xencor during the second quarter worth $30,000. Squarepoint Ops LLC acquired a new position in shares of Xencor during the second quarter worth $459,000. Allworth Financial LP lifted its position in shares of Xencor by 23.2% during the second quarter. Allworth Financial LP now owns 3,436 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 646 shares in the last quarter. Finally, Seven Fleet Capital Management LP boosted its stake in shares of Xencor by 360.4% in the second quarter. Seven Fleet Capital Management LP now owns 368,305 shares of the biopharmaceutical company’s stock valued at $5,930,000 after purchasing an additional 288,305 shares during the period.

Xencor Company Profile

Xencor, Inc is a clinical-stage biopharmaceutical company that develops engineered antibodies and cytokine therapeutics for the treatment of cancer, autoimmune diseases and other serious medical conditions. The company’s platform is designed to modify antibody properties, including immune-system activation, half-life and biological activity, to create differentiated therapeutic candidates.

Xencor’s proprietary XmAb technology supports its internal research programs and collaborations with other biopharmaceutical companies.