Xencor (NASDAQ:XNCR) Hits New 12-Month High – Here’s Why

Shares of Xencor, Inc. (NASDAQ:XNCR) reached a new 52-week high during trading on Monday. The stock traded as high as $33.06 and last traded at $33.0590, with a volume of 1,885,825 shares traded. The stock had previously closed at $25.18.

Trending Headlines about Xencor

Here are the key news stories impacting Xencor this week:

• Positive Sentiment: Updated Phase 1 data for XmAb819 showed a reported 45.5% response rate in heavily pretreated ccRCC patients, with coverage describing the antitumor activity as “impressive,” “unprecedented” and “profound.” Xencor plans to advance the program toward a late-stage trial. Xencor Reveals Updated Phase 1 XmAb819 Data and Projects Cash Runway Through 2029
• Positive Sentiment: The company said its cash resources are expected to fund operations through 2029, reducing near-term financing concerns as it develops XmAb819 and other pipeline programs. Cash Runway and Updated Data
• Positive Sentiment: Analyst sentiment strengthened following the data. Wedbush raised its price target from $30 to $45 and maintained an Outperform rating, while RBC increased its target from $20 to $43 and retained Outperform, though it continues to flag speculative risk. Wedbush Analyst Recommendation RBC Raises Price Target
• Neutral Sentiment: The response data are from a Phase 1 study, so durability, safety, comparative efficacy and confirmation in larger controlled trials remain important uncertainties. The stock is now near its 12-month high after a sharp rally, increasing sensitivity to follow-up data and profit-taking.
• Negative Sentiment: Xencor remains unprofitable, and analysts expect a loss for the full year. XmAb819’s potential FDA accelerated-approval pathway is not guaranteed; disappointing safety or efficacy results could weigh heavily on the shares.

Analysts Set New Price Targets

A number of research analysts have weighed in on XNCR shares. Barclays set a $45.00 price target on Xencor and gave the stock an “overweight” rating in a research note on Monday. Bank of America lifted their price objective on Xencor from $20.00 to $26.00 and gave the company a “neutral” rating in a research report on Monday, September 21st. Raymond James Financial lifted their price objective on Xencor from $40.00 to $46.00 and gave the company a “strong-buy” rating in a research report on Tuesday, September 1st. Wells Fargo & Company upped their target price on Xencor from $30.00 to $44.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Zacks Research upgraded Xencor from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Xencor presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.33.

Xencor Stock Performance

The company has a 50 day simple moving average of $25.56 and a 200 day simple moving average of $16.73.

Xencor (NASDAQ:XNCR) last released its quarterly earnings data 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. During the same quarter last year, the business earned ($0.41) earnings per share. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. Sell-side analysts anticipate that Xencor, Inc. will post -3.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Xencor in the second quarter worth $219,785,000. Primecap Management Co. CA purchased a new position in shares of Xencor in the 2nd quarter valued at $163,919,000. Legal & General Group Plc acquired a new position in shares of Xencor during the 2nd quarter valued at $17,568,000. Johnson & Johnson acquired a new position in shares of Xencor during the 2nd quarter valued at $12,043,798. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Xencor during the 2nd quarter valued at $11,599,000.

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.