Xencor’s (XNCR) “Outperform” Rating Reiterated at Wedbush

Wedbush reaffirmed their outperform rating on shares of Xencor (NASDAQ:XNCR) in a research note published on Thursday morning,Benzinga reports. Wedbush currently has a $26.00 price objective on the biopharmaceutical company’s stock.

XNCR has been the subject of a number of other research reports. Truist Financial decreased their price objective on shares of Xencor from $29.00 to $27.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Zacks Research upgraded Xencor from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Wall Street Zen lowered Xencor from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. upped their price target on Xencor from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Xencor in a research report on Wednesday, June 24th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Xencor presently has an average rating of “Moderate Buy” and an average target price of $24.25.

Xencor Price Performance

XNCR opened at $20.21 on Thursday. The firm has a fifty day moving average price of $14.86 and a 200 day moving average price of $13.15. Xencor has a 1 year low of $6.92 and a 1 year high of $21.76. The stock has a market cap of $1.50 billion, a P/E ratio of -8.83 and a beta of 0.86.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($1.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.96). The firm had revenue of $4.52 million for the quarter, compared to analysts’ expectations of $27.86 million. Xencor had a negative return on equity of 28.77% and a negative net margin of 177.10%.The business’s quarterly revenue was down 86.2% on a year-over-year basis. During the same period last year, the company posted ($0.66) earnings per share. Equities analysts expect that Xencor will post -3.76 EPS for the current year.

Hedge Funds Weigh In On Xencor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XNCR. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Xencor in the fourth quarter valued at about $81,000. Tower Research Capital LLC TRC lifted its stake in Xencor by 118.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company’s stock valued at $44,000 after buying an additional 3,018 shares in the last quarter. E Fund Management Co. Ltd. purchased a new position in Xencor in the 2nd quarter valued at about $79,000. Norges Bank acquired a new stake in Xencor in the 4th quarter worth about $175,000. Finally, Prelude Capital Management LLC acquired a new stake in Xencor in the 3rd quarter worth about $139,000.

Xencor Company Profile

Xencor, Inc is a clinical-stage biopharmaceutical company focused on the design and development of engineered protein therapeutics for the treatment of autoimmune diseases, cancer and neurological disorders. The company applies its proprietary XmAb® platform to manipulate antibody structure and function, creating molecules with enhanced immune engagement and extended half-life. Xencor’s research programs span a range of therapeutic modalities, including monoclonal antibodies, bispecific antibodies and cytokine-based fusion proteins.

The XmAb® platform enables precise modification of the Fc region to augment key properties such as receptor binding, effector function and pharmacokinetics.