Xencor (NASDAQ:XNCR) Reaches New 1-Year High – Time to Buy?

Xencor, Inc. (NASDAQ:XNCR) hit a new 52-week high during trading on Tuesday. The stock traded as high as $39.85 and last traded at $39.66, with a volume of 42,047 shares traded. The stock had previously closed at $38.59.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on XNCR shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xencor in a research note on Monday, September 21st. Royal Bank Of Canada increased 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. Wedbush boosted their price target on Xencor from $30.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, October 27th. Cantor Fitzgerald initiated coverage on shares of Xencor in a research report on Thursday, November 5th. They set an “overweight” rating and a $70.00 price objective on the stock. Finally, Barclays set a $45.00 price objective on shares of Xencor and gave the stock an “overweight” rating in a report on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.22.

Xencor Trading Up 1.5%

The stock has a market cap of $3.00 billion, a P/E ratio of -25.14 and a beta of 0.78. The stock’s fifty day moving average price is $26.91 and its 200 day moving average price is $17.85.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings results on Wednesday, November 4th. The biopharmaceutical company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.83. Xencor had a negative net margin of 58.79% and a negative return on equity of 21.28%. The company had revenue of $116.52 million during the quarter, compared to analyst estimates of $63.00 million. During the same period last year, the business earned ($0.08) EPS. Xencor’s quarterly revenue was up 453.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Xencor, Inc. will post -2.61 earnings per share for the current year.

Hedge Funds Weigh In On Xencor

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Xencor in the 2nd quarter worth approximately $219,785,000. Primecap Management Co. CA bought a new position in Xencor during the 2nd quarter valued at approximately $163,919,000. Jefferies Financial Group Inc. raised its stake in Xencor by 189.0% during the third quarter. Jefferies Financial Group Inc. now owns 2,082,243 shares of the biopharmaceutical company’s stock valued at $51,952,000 after buying an additional 1,361,803 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Xencor by 3.6% during 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 buying an additional 45,599 shares during the last quarter. Finally, Legal & General Group Plc bought a new stake in Xencor in the second quarter worth $17,568,000.

Xencor Company Profile

Xencor, Inc. is a clinical-stage biopharmaceutical company that discovers and develops engineered antibody therapeutics for cancer and autoimmune diseases. The company’s XmAb technology platform modifies antibody structures to create treatments with properties such as enhanced immune-cell activity or the ability to bind to more than one target. Xencor advances its own drug candidates and works with other biopharmaceutical companies through research collaborations and licensing agreements. Its development programs include antibody-based approaches designed to engage immune cells or block disease-related targets.