Xencor (NASDAQ:XNCR) Announces Quarterly Earnings Results

Xencor (NASDAQ:XNCR) released its earnings results on Wednesday. The biopharmaceutical company reported $0.50 earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.83, FiscalAI reports. The company had revenue of $116.52 million during the quarter, compared to the consensus estimate of $63.00 million. Xencor had a negative return on equity of 28.66% and a negative net margin of 155.59%.

Xencor Stock Performance

Shares of NASDAQ:XNCR traded up $4.39 during trading hours on Wednesday, reaching $35.03. The stock had a trading volume of 2,533,824 shares, compared to its average volume of 1,054,930. Xencor has a 1 year low of $10.38 and a 1 year high of $35.05. The firm’s 50 day moving average is $25.81 and its 200-day moving average is $17.13. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of -16.14 and a beta of 0.78.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Xencor from $14.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, September 3rd. Royal Bank Of Canada raised their price target on shares of Xencor from $20.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, October 27th. Wells Fargo & Company boosted their price target on shares of Xencor from $30.00 to $44.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 27th. Cantor Fitzgerald upped their price objective on Xencor from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Bank of America increased their price objective on 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 issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.33.

About Xencor

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.