Zacks: Brokerages Anticipate Xencor, Inc. (XNCR) Will Announce Quarterly Sales of $8.15 Million
Wall Street brokerages forecast that Xencor, Inc. (NASDAQ:XNCR) will post $8.15 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Xencor’s earnings, with estimates ranging from $6.00 million to $10.30 million. Xencor reported sales of $7.82 million during the same quarter last year, which indicates a positive year-over-year growth rate of 4.2%. The company is expected to issue its next earnings report on Wednesday, November 1st.
On average, analysts expect that Xencor will report full-year sales of $8.15 million for the current financial year, with estimates ranging from $25.10 million to $38.30 million. For the next year, analysts expect that the firm will report sales of $28.10 million per share, with estimates ranging from $20.00 million to $36.20 million. Zacks’ sales averages are an average based on a survey of research firms that follow Xencor.
Xencor (NASDAQ:XNCR) last issued its quarterly earnings data on Monday, August 7th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.10. The business had revenue of $13.34 million for the quarter, compared to analysts’ expectations of $8.15 million. Xencor had a negative return on equity of 13.79% and a negative net margin of 121.04%.
Several research firms have recently weighed in on XNCR. Zacks Investment Research downgraded Xencor from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Canaccord Genuity restated a “buy” rating and issued a $36.00 target price on shares of Xencor in a research report on Tuesday, August 8th. Wedbush restated an “outperform” rating and issued a $29.00 target price on shares of Xencor in a research report on Friday, June 16th. ValuEngine upgraded Xencor from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Finally, BidaskClub downgraded Xencor from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $29.33.
Shares of Xencor (XNCR) traded down 1.02% during mid-day trading on Friday, hitting $22.26. The stock had a trading volume of 207,431 shares. Xencor has a one year low of $18.45 and a one year high of $29.38. The stock’s market cap is $1.04 billion. The firm has a 50 day moving average of $21.54 and a 200-day moving average of $22.56.
In related news, major shareholder John S. Stafford III acquired 27,000 shares of Xencor stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average price of $21.13 per share, for a total transaction of $570,510.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder John S. Stafford III acquired 25,000 shares of Xencor stock in a transaction that occurred on Wednesday, August 16th. The shares were bought at an average price of $20.96 per share, for a total transaction of $524,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 221,551 shares of company stock worth $4,506,556. 4.14% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Equitec Specialists LLC purchased a new position in Xencor during the second quarter worth approximately $116,000. SG Americas Securities LLC lifted its position in Xencor by 62.6% during the second quarter. SG Americas Securities LLC now owns 8,447 shares of the biopharmaceutical company’s stock worth $178,000 after buying an additional 3,252 shares in the last quarter. Airain ltd purchased a new position in Xencor during the first quarter worth approximately $213,000. Legal & General Group Plc lifted its position in Xencor by 4.5% during the second quarter. Legal & General Group Plc now owns 8,978 shares of the biopharmaceutical company’s stock worth $189,000 after buying an additional 385 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new position in Xencor during the second quarter worth approximately $224,000. Hedge funds and other institutional investors own 76.92% of the company’s stock.
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. It has developed two clinical-stage product candidates, using its Immune Inhibitor Fc platform: XmAb5871, which is in two Phase II trials and is being developed for autoimmune disease, and XmAb7195, which is in a Phase I trial and is being developed for asthma and allergic diseases.
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