Xencor, Inc. (XNCR) Earns Buy Rating from Piper Jaffray Companies
Xencor, Inc. (NASDAQ:XNCR)‘s stock had its “buy” rating reaffirmed by equities researchers at Piper Jaffray Companies in a research report issued to clients and investors on Sunday. They presently have a $35.00 price target on the biopharmaceutical company’s stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 66.43% from the stock’s previous close.
Other equities research analysts have also issued research reports about the company. Canaccord Genuity restated a “buy” rating and issued a $36.00 price objective on shares of Xencor in a research report on Tuesday, August 8th. BidaskClub lowered Xencor from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. ValuEngine upgraded Xencor from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research lowered Xencor from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $30.25.
Shares of Xencor (XNCR) traded up $1.07 during midday trading on Friday, reaching $21.03. The company had a trading volume of 146,300 shares, compared to its average volume of 215,876. Xencor has a 52-week low of $18.55 and a 52-week high of $29.38.
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In other Xencor news, major shareholder John S. Stafford III bought 50,000 shares of Xencor stock in a transaction dated Thursday, November 2nd. The stock was acquired at an average cost of $19.58 per share, with a total value of $979,000.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder John S. Stafford III bought 13,700 shares of Xencor stock in a transaction dated Tuesday, October 31st. The shares were acquired at an average cost of $19.81 per share, with a total value of $271,397.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 427,209 shares of company stock valued at $8,537,686. Corporate insiders own 4.14% of the company’s stock.
Several hedge funds have recently made changes to their positions in XNCR. FMR LLC raised its stake in shares of Xencor by 77.7% during the 2nd quarter. FMR LLC now owns 6,690,258 shares of the biopharmaceutical company’s stock worth $141,232,000 after buying an additional 2,924,510 shares during the period. State Street Corp raised its stake in Xencor by 17.5% in the 1st quarter. State Street Corp now owns 992,981 shares of the biopharmaceutical company’s stock valued at $23,751,000 after purchasing an additional 148,136 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Xencor by 57.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 286,894 shares of the biopharmaceutical company’s stock valued at $6,863,000 after purchasing an additional 104,638 shares during the last quarter. Artal Group S.A. acquired a new position in Xencor in the 3rd quarter valued at $2,292,000. Finally, JPMorgan Chase & Co. raised its stake in Xencor by 48.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 289,500 shares of the biopharmaceutical company’s stock valued at $6,112,000 after purchasing an additional 93,975 shares during the last quarter. 76.70% of the stock is owned by institutional investors and hedge funds.
Xencor Company Profile
Xencor, Inc is a clinical-stage biopharmaceutical company. The Company is focused on discovering and developing engineered monoclonal antibodies to treat severe and life threatening diseases. It has developed two clinical-stage product candidates, using its Immune Inhibitor Fc platform: XmAb5871, which is in two Phase II trials and is being developed for autoimmune disease, and XmAb7195, which is in a Phase I trial and is being developed for asthma and allergic diseases.
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