Xencor (NASDAQ:XNCR) Price Target Cut to $38.00

Xencor (NASDAQ:XNCR) had its target price lowered by analysts at BTIG Research from $56.00 to $38.00 in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. BTIG Research’s price target suggests a potential upside of 99.27% from the company’s previous close.

Several other equities research analysts have also recently commented on XNCR. Piper Sandler reissued a “neutral” rating and set a $24.00 price target (down from $37.00) on shares of Xencor in a research report on Wednesday, February 28th. Wedbush cut their price target on shares of Xencor from $36.00 to $34.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Royal Bank of Canada reissued an “outperform” rating and set a $32.00 price target on shares of Xencor in a research report on Wednesday, February 28th. BMO Capital Markets cut their price target on shares of Xencor from $38.00 to $34.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Finally, Mizuho cut their price target on shares of Xencor from $59.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, January 22nd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.00.

Xencor Trading Up 0.8 %

XNCR opened at $19.07 on Tuesday. The stock has a market capitalization of $1.17 billion, a P/E ratio of -9.08 and a beta of 0.76. Xencor has a 12 month low of $16.49 and a 12 month high of $30.20. The firm’s fifty day simple moving average is $22.24 and its 200 day simple moving average is $20.38. The company has a current ratio of 7.36, a quick ratio of 7.36 and a debt-to-equity ratio of 0.02.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($0.31) EPS for the quarter, missing the consensus estimate of $0.36 by ($0.67). The company had revenue of $44.70 million during the quarter, compared to the consensus estimate of $77.63 million. Xencor had a negative net margin of 74.90% and a negative return on equity of 18.67%. The company’s revenue was up 106.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.20) earnings per share. As a group, research analysts anticipate that Xencor will post -3.25 EPS for the current fiscal year.

Insider Buying and Selling at Xencor

In other Xencor news, VP John R. Desjarlais sold 54,108 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $19.38, for a total value of $1,048,613.04. Following the completion of the sale, the vice president now owns 161,675 shares of the company’s stock, valued at approximately $3,133,261.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP John R. Desjarlais sold 1,280 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $23.50, for a total transaction of $30,080.00. Following the completion of the sale, the vice president now owns 186,433 shares of the company’s stock, valued at approximately $4,381,175.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP John R. Desjarlais sold 54,108 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $19.38, for a total transaction of $1,048,613.04. Following the sale, the vice president now directly owns 161,675 shares of the company’s stock, valued at approximately $3,133,261.50. The disclosure for this sale can be found here. Insiders sold 101,351 shares of company stock valued at $2,152,417 in the last quarter. Company insiders own 4.97% of the company’s stock.

Hedge Funds Weigh In On Xencor

Several institutional investors and hedge funds have recently added to or reduced their stakes in XNCR. Raymond James & Associates lifted its stake in Xencor by 4.6% in the 1st quarter. Raymond James & Associates now owns 89,801 shares of the biopharmaceutical company’s stock valued at $2,396,000 after purchasing an additional 3,969 shares during the last quarter. MetLife Investment Management LLC lifted its stake in Xencor by 54.8% in the 1st quarter. MetLife Investment Management LLC now owns 30,664 shares of the biopharmaceutical company’s stock valued at $818,000 after purchasing an additional 10,854 shares during the last quarter. Rhumbline Advisers increased its position in Xencor by 7.8% in the 1st quarter. Rhumbline Advisers now owns 147,163 shares of the biopharmaceutical company’s stock valued at $3,926,000 after acquiring an additional 10,649 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Xencor by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 50,417 shares of the biopharmaceutical company’s stock valued at $1,345,000 after acquiring an additional 6,216 shares during the period. Finally, BlackRock Inc. increased its position in Xencor by 0.5% in the 1st quarter. BlackRock Inc. now owns 9,385,217 shares of the biopharmaceutical company’s stock valued at $250,396,000 after acquiring an additional 50,387 shares during the period.

Xencor Company Profile

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.