Xencor Inc. (XNCR) Given a $32.00 Price Target by Canaccord Genuity Analysts
Canaccord Genuity set a $32.00 price objective on Xencor Inc. (NASDAQ:XNCR) in a research report sent to investors on Monday morning. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
Several other brokerages also recently commented on XNCR. Zacks Investment Research downgraded Xencor from a buy rating to a hold rating in a research note on Wednesday, August 31st. TheStreet downgraded Xencor from a hold rating to a sell rating in a research note on Tuesday, November 8th. Piper Jaffray Cos. started coverage on Xencor in a research note on Tuesday, October 4th. They issued an overweight rating and a $35.00 target price for the company. Wedbush restated an outperform rating and issued a $27.00 target price on shares of Xencor in a research note on Monday, September 12th. Finally, Leerink Swann reiterated a buy rating and set a $26.00 price target on shares of Xencor in a research report on Thursday, November 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. Xencor has an average rating of Buy and an average target price of $27.14.
Xencor (NASDAQ:XNCR) traded up 2.23% during mid-day trading on Monday, reaching $26.58. 158,433 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $22.59 and a 200-day moving average of $19.88. Xencor has a one year low of $9.89 and a one year high of $28.09. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 27.23 and a beta of 2.20.
In other Xencor news, insider Edgardo Baracchini, Jr. sold 10,000 shares of Xencor stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $21.06, for a total value of $210,600.00. Following the transaction, the insider now directly owns 10,000 shares of the company’s stock, valued at approximately $210,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder John S. Stafford III sold 40,000 shares of Xencor stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $25.72, for a total value of $1,028,800.00. The disclosure for this sale can be found here. 4.03% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in the company. Baker BROS. Advisors LP bought a new position in shares of Xencor during the third quarter worth approximately $21,357,000. Primecap Management Co. CA boosted its position in shares of Xencor by 9.7% in the second quarter. Primecap Management Co. CA now owns 5,192,895 shares of the biopharmaceutical company’s stock worth $98,613,000 after buying an additional 460,900 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Xencor by 52.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 875,676 shares of the biopharmaceutical company’s stock worth $21,445,000 after buying an additional 300,360 shares during the period. Acadian Asset Management LLC boosted its position in shares of Xencor by 421.2% in the third quarter. Acadian Asset Management LLC now owns 361,540 shares of the biopharmaceutical company’s stock worth $8,853,000 after buying an additional 292,178 shares during the period. Finally, Oxford Asset Management boosted its position in shares of Xencor by 300.6% in the second quarter. Oxford Asset Management now owns 367,101 shares of the biopharmaceutical company’s stock worth $6,971,000 after buying an additional 275,470 shares during the period. 70.71% of the stock is currently owned by institutional investors and hedge funds.
Xencor, Inc is a clinical-stage biopharmaceutical company. The Company is focused on discovering and developing engineered monoclonal antibodies to treat severe and life threatening diseases. Its segment is related to the development of pharmaceutical products. It uses its XmAb technology platform to create antibody product candidates designed to treat autoimmune and allergic diseases, cancer and other conditions.
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