Xencor (NASDAQ:XNCR) Price Target Raised to $21.00

Xencor (NASDAQ:XNCR) had its price target boosted by JPMorgan Chase & Co. from $14.00 to $21.00 in a report issued on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the biopharmaceutical company’s stock.

XNCR has been the subject of several other reports. Wedbush lifted their price objective on shares of Xencor from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Royal Bank Of Canada increased their target price on shares of Xencor from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Cantor Fitzgerald raised their target price on shares of Xencor from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Wall Street Zen raised shares of Xencor from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Zacks Research upgraded shares of Xencor from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.71.

Xencor Price Performance

Shares of XNCR stock opened at $26.61 on Thursday. Xencor has a 1 year low of $8.19 and a 1 year high of $30.61. The stock’s 50 day simple moving average is $21.06 and its two-hundred day simple moving average is $15.30. The company has a market cap of $1.98 billion, a PE ratio of -12.26 and a beta of 0.88.

Xencor (NASDAQ:XNCR) last announced its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.51. The firm had revenue of $51.22 million during the quarter, compared to analysts’ expectations of $18.89 million. Xencor had a negative return on equity of 28.66% and a negative net margin of 155.59%.The company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.41) EPS. Equities research analysts expect that Xencor will post -3 EPS for the current year.

Institutional Trading of Xencor

Institutional investors and hedge funds have recently made changes to their positions in the business. Johnson & Johnson bought a new position in shares of Xencor in the second quarter worth about $12,043,798. Jefferies Financial Group Inc. boosted its position in Xencor by 620.4% in the 4th quarter. Jefferies Financial Group Inc. now owns 720,440 shares of the biopharmaceutical company’s stock valued at $11,030,000 after buying an additional 620,440 shares during the period. BlackRock Inc. purchased a new stake in Xencor in the 2nd quarter valued at about $219,785,000. Primecap Management Co. CA purchased a new stake in Xencor in the 2nd quarter valued at about $163,919,000. Finally, DCF Advisers LLC bought a new position in Xencor in the 2nd quarter worth about $1,670,000.

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.