Xencor (NASDAQ:XNCR) Price Target Raised to $27.00

Xencor (NASDAQ:XNCR) had its price target boosted by Barclays from $26.00 to $27.00 in a research report report published on Thursday,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

XNCR has been the topic of several other reports. Truist Financial started coverage on Xencor in a research note on Monday, November 24th. They issued a “buy” rating and a $29.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating and issued a $26.00 price target on shares of Xencor in a research report on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Xencor in a research report on Monday, December 29th. Royal Bank Of Canada raised their target price on shares of Xencor from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Finally, Cantor Fitzgerald boosted their price target on shares of Xencor from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $25.00.

Xencor Stock Performance

NASDAQ XNCR opened at $12.77 on Thursday. The firm has a market cap of $936.55 million, a price-to-earnings ratio of -10.30 and a beta of 0.98. The firm has a 50 day simple moving average of $13.15 and a 200-day simple moving average of $12.82. Xencor has a one year low of $6.92 and a one year high of $18.69.

Xencor (NASDAQ:XNCR) last announced its earnings results on Wednesday, February 25th. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.64) by $0.55. Xencor had a negative net margin of 73.20% and a negative return on equity of 14.62%. The firm had revenue of $28.24 million for the quarter, compared to the consensus estimate of $29.97 million. During the same period in the prior year, the firm earned ($0.62) EPS. The firm’s revenue for the quarter was down 46.6% on a year-over-year basis. Equities analysts predict that Xencor will post -3.68 EPS for the current fiscal year.

Insider Activity at Xencor

In other Xencor news, CEO Bassil I. Dahiyat sold 114,377 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $15.71, for a total transaction of $1,796,862.67. Following the sale, the chief executive officer owned 466,635 shares of the company’s stock, valued at approximately $7,330,835.85. This trade represents a 19.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John R. Desjarlais sold 73,367 shares of the company’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $15.72, for a total transaction of $1,153,329.24. Following the completion of the transaction, the vice president owned 236,574 shares of the company’s stock, valued at approximately $3,718,943.28. The trade was a 23.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.76% of the company’s stock.

Hedge Funds Weigh In On Xencor

Several large investors have recently bought and sold shares of the stock. AQR Capital Management LLC purchased a new position in shares of Xencor during the first quarter worth about $438,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Xencor by 9.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,047 shares of the biopharmaceutical company’s stock valued at $471,000 after purchasing an additional 3,692 shares during the period. Goldman Sachs Group Inc. grew its stake in Xencor by 89.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 726,734 shares of the biopharmaceutical company’s stock worth $7,732,000 after buying an additional 344,088 shares during the last quarter. CWM LLC grew its stake in Xencor by 159.1% during the 2nd quarter. CWM LLC now owns 8,736 shares of the biopharmaceutical company’s stock worth $69,000 after buying an additional 5,364 shares during the last quarter. Finally, AlphaQuest LLC increased its position in Xencor by 144.0% during the second quarter. AlphaQuest LLC now owns 12,946 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 7,641 shares during the period.

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.