Cantor Fitzgerald restated their buy rating on shares of Xencor (NASDAQ:XNCR) in a report published on Tuesday morning. Cantor Fitzgerald currently has a $40.00 price target on the biopharmaceutical company’s stock.
“: We reiterate our Overweight rating and are adjusting our PT to $40 from $37 for XNCR stock. We believe the company’s Fc-engineering know-how will produce abundant drug candidates with which to populate XNCR’s proprietary pipeline as well as partnering opportunities as needed. As with most so-called technology platform companies, we believe proof of concept/commercial potential would compel investors to ascribe some value to assets the identity/ characteristics of which have not yet been revealed.”,” the firm’s analyst commented.
Several other research firms also recently commented on XNCR. BidaskClub downgraded Xencor from a buy rating to a hold rating in a report on Friday, September 7th. BTIG Research assumed coverage on Xencor in a report on Monday, September 10th. They issued a buy rating and a $56.00 price objective for the company. Wedbush reissued an outperform rating and issued a $42.00 price objective on shares of Xencor in a report on Monday, October 8th. Canaccord Genuity increased their price objective on Xencor from $38.00 to $45.00 and gave the company a buy rating in a report on Wednesday, August 8th. Finally, Zacks Investment Research raised Xencor from a hold rating to a buy rating and set a $47.00 price objective for the company in a report on Friday, August 10th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $41.13.
Shares of XNCR traded down $1.84 during mid-day trading on Tuesday, hitting $37.88. 184,118 shares of the company’s stock were exchanged, compared to its average volume of 253,280. Xencor has a 52 week low of $19.50 and a 52 week high of $48.38.
Xencor (NASDAQ:XNCR) last issued its quarterly earnings results on Monday, November 5th. The biopharmaceutical company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.57. The business had revenue of $29.04 million for the quarter. As a group, sell-side analysts expect that Xencor will post -1.69 EPS for the current fiscal year.
In other Xencor news, insider Paul A. Foster sold 36,341 shares of the firm’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $41.10, for a total transaction of $1,493,615.10. Following the completion of the sale, the insider now owns 8,611 shares of the company’s stock, valued at approximately $353,912.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Edgardo Baracchini, Jr. sold 50,000 shares of the firm’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $40.16, for a total value of $2,008,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 127,341 shares of company stock valued at $5,390,865. 4.70% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN lifted its holdings in Xencor by 5.4% during the 3rd quarter. Wells Fargo & Company MN now owns 25,710 shares of the biopharmaceutical company’s stock valued at $1,002,000 after purchasing an additional 1,310 shares during the last quarter. Tocqueville Asset Management L.P. lifted its holdings in Xencor by 19.0% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 9,400 shares of the biopharmaceutical company’s stock valued at $348,000 after purchasing an additional 1,500 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in Xencor by 64.7% during the 3rd quarter. Public Employees Retirement Association of Colorado now owns 4,404 shares of the biopharmaceutical company’s stock valued at $172,000 after purchasing an additional 1,730 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Xencor by 2.3% during the third quarter. Swiss National Bank now owns 87,300 shares of the biopharmaceutical company’s stock worth $3,402,000 after buying an additional 2,000 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in shares of Xencor by 16.3% during the second quarter. Metropolitan Life Insurance Co. NY now owns 15,127 shares of the biopharmaceutical company’s stock worth $560,000 after buying an additional 2,116 shares in the last quarter. 83.03% of the stock is owned by institutional investors and hedge funds.
Xencor Company Profile
Xencor, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of engineered monoclonal antibody 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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