Xencor (NASDAQ:XNCR) Stock Price Target Raised at Wedbush

Xencor (NASDAQ:XNCR) had its target price lifted by investment analysts at Wedbush from $30.00 to $45.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the biopharmaceutical company’s stock. Wedbush‘s target price points to a potential upside of 54.22% from the stock’s previous close.

XNCR has been the subject of a number of other research reports. Zacks Research upgraded shares of Xencor from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Cantor Fitzgerald lifted their target price on shares of Xencor from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. raised their target price on Xencor from $14.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, September 3rd. Raymond James Financial upped their price target on Xencor from $40.00 to $46.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 1st. Finally, Bank of America increased their price objective on shares of Xencor from $20.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.11.

Xencor Trading Up 15.9%

Shares of XNCR stock opened at $29.18 on Tuesday. The company has a market cap of $2.17 billion, a P/E ratio of -13.45 and a beta of 0.89. The firm has a fifty day moving average price of $25.42 and a 200 day moving average price of $16.66. Xencor has a 12 month low of $10.38 and a 12 month high of $33.60.

Xencor (NASDAQ:XNCR) last released its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.80) by $0.51. The company had revenue of $51.22 million during the quarter, compared to the consensus estimate of $18.89 million. Xencor had a negative net margin of 155.59% and a negative return on equity of 28.66%. Xencor’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.41) earnings per share. On average, equities analysts forecast that Xencor will post -3.05 EPS for the current year.

Institutional Trading of Xencor

Several institutional investors have recently added to or reduced their stakes in XNCR. BlackRock Inc. bought a new position in shares of Xencor in the second quarter worth $219,785,000. Primecap Management Co. CA acquired a new position in Xencor in the 2nd quarter worth approximately $163,919,000. Dimensional Fund Advisors LP lifted its holdings in shares of Xencor by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,294,887 shares of the biopharmaceutical company’s stock valued at $15,613,000 after purchasing an additional 45,599 shares in the last quarter. Legal & General Group Plc acquired a new position in Xencor during the second quarter valued at $17,568,000. Finally, Johnson & Johnson acquired a new stake in Xencor during the 2nd quarter worth about $12,043,798.

More Xencor News

Here are the key news stories impacting Xencor this week:

• Positive Sentiment: Updated Phase 1 data showed a reported 45.5% objective response rate and what management and commentators described as impressive or potentially unprecedented antitumor activity. The results helped drive strong investor interest in XmAb819’s commercial potential. MarketScreener article
• Positive Sentiment: Xencor reported dose-selection and early efficacy findings from the Phase 1 study and said it plans to advance XmAb819 into a late-stage trial. Progression toward pivotal testing improves the drug’s regulatory and partnership potential. StreetInsider article
• Positive Sentiment: Investors are also responding to the possibility that the strength of the data could support an accelerated FDA approval pathway, although that outcome is not yet assured. Seeking Alpha analysis
• Neutral Sentiment: The evidence remains from an early-stage Phase 1 trial. XmAb819 must still demonstrate durability, safety, and benefit in larger studies before approval, so the recent move reflects heightened expectations rather than a guaranteed product launch.
• Neutral Sentiment: Reports concerning October short interest appear internally inconsistent, citing zero shares and a zero-day days-to-cover ratio; therefore, short-covering does not appear to be a meaningful explanation for the move.

Xencor Company Profile

Xencor, Inc is a clinical-stage biopharmaceutical company headquartered in Monrovia, California. Founded in 1997, the company develops engineered antibodies and other biologic medicines for the treatment of cancer, autoimmune disorders and other serious diseases.

Xencor’s research is centered on its XmAb technology platform, which is designed to modify antibodies to improve their therapeutic properties or create new antibody-based mechanisms. The platform supports the development of bispecific antibodies, immune-cell engagers and antibodies with extended activity in the body.