Xencor’s (XNCR) Buy Rating Reiterated at Cantor Fitzgerald
Cantor Fitzgerald restated their buy rating on shares of Xencor (NASDAQ:XNCR) in a report issued on Sunday, AnalystRatings.com reports. The firm currently has a $40.00 price target on the biopharmaceutical company’s stock.
“. We reiterate our Overweight rating and 12-month price target of $40. Xencor reported 1Q 2019 earnings and offered a Business Update. No Ultromaris royalties were booked because they are booked ~1-2 quarters in arrears vs. Alexion. The company did have $112M in revenue from February’s Genentech deal, resulting in positive EPS for the quarter. Ultromaris and MOR208 revenues remain fast-approaching, near-term revenue opportunities. Alexion (ALXN: NC) reported $25M in Ultromaris sales in 1Q 2019. Xencor receives a low-single-digit royalty on these revenues; we model a 2% royalty.”,” the firm’s analyst wrote.
XNCR has been the topic of several other research reports. Guggenheim assumed coverage on shares of Xencor in a research note on Friday, April 12th. They set a buy rating and a $42.00 price target on the stock. BidaskClub lowered shares of Xencor from a hold rating to a sell rating in a research note on Friday, February 22nd. Zacks Investment Research lowered shares of Xencor from a buy rating to a hold rating in a research note on Saturday, May 4th. Berenberg Bank began coverage on shares of Xencor in a research note on Wednesday, March 27th. They issued a buy rating and a $45.00 target price on the stock. Finally, ValuEngine lowered shares of Xencor from a strong-buy rating to a buy rating in a research note on Thursday, February 28th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $41.49.
Xencor (NASDAQ:XNCR) last announced its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.95. The business had revenue of $111.94 million for the quarter, compared to analyst estimates of $60.05 million. Equities research analysts forecast that Xencor will post -0.54 earnings per share for the current fiscal year.
In other news, major shareholder John S. Stafford III bought 2,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were acquired at an average cost of $29.96 per share, for a total transaction of $59,920.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder John S. Stafford III purchased 14,611 shares of Xencor stock in a transaction on Thursday, May 2nd. The stock was bought at an average cost of $29.87 per share, with a total value of $436,430.57. The disclosure for this purchase can be found here. Insiders purchased a total of 61,511 shares of company stock worth $1,804,827 over the last quarter. 4.70% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in Xencor by 5.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 251,155 shares of the biopharmaceutical company’s stock valued at $9,787,000 after purchasing an additional 12,320 shares during the period. Rhenman & Partners Asset Management AB boosted its holdings in Xencor by 49.2% in the 1st quarter. Rhenman & Partners Asset Management AB now owns 325,965 shares of the biopharmaceutical company’s stock valued at $10,124,000 after purchasing an additional 107,428 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Xencor by 42.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 399,186 shares of the biopharmaceutical company’s stock valued at $14,432,000 after purchasing an additional 119,347 shares during the period. Tekla Capital Management LLC bought a new stake in Xencor in the 4th quarter valued at $2,031,000. Finally, AQR Capital Management LLC boosted its holdings in Xencor by 105.6% in the 3rd quarter. AQR Capital Management LLC now owns 63,061 shares of the biopharmaceutical company’s stock valued at $2,457,000 after purchasing an additional 32,389 shares during the period. 84.73% of the stock is owned by hedge funds and other institutional investors.
Xencor, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of engineered monoclonal antibody and other protein therapeutics to treat severe and life threatening diseases with unmet medical needs. It develops its antibody product candidates to treat autoimmune and allergic diseases, cancer, and other conditions.
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