Xencor (NASDAQ:XNCR) Price Target Cut to $38.00

Xencor (NASDAQ:XNCR) had its price objective lowered by BTIG Research from $56.00 to $38.00 in a research report report published on Tuesday morning, MarketBeat reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

A number of other equities analysts also recently issued reports on the company. Mizuho cut their target price on Xencor from $59.00 to $50.00 and set a buy rating for the company in a research note on Monday, January 22nd. StockNews.com upgraded Xencor from a sell rating to a hold rating in a report on Saturday, March 9th. BMO Capital Markets lowered their price target on Xencor from $38.00 to $34.00 and set an outperform rating on the stock in a report on Wednesday, February 28th. Royal Bank of Canada restated an outperform rating and issued a $32.00 price target on shares of Xencor in a report on Wednesday, February 28th. Finally, Piper Sandler restated a neutral rating and issued a $24.00 price target (down previously from $37.00) on shares of Xencor in a report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $36.00.

Xencor Stock Performance

Shares of XNCR stock opened at $18.38 on Tuesday. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -8.57 and a beta of 0.76. The stock has a 50 day simple moving average of $22.25 and a 200-day simple moving average of $20.37. Xencor has a 12-month low of $16.49 and a 12-month high of $28.96. The company has a current ratio of 7.36, a quick ratio of 7.36 and a debt-to-equity ratio of 0.02.

Xencor (NASDAQ:XNCR) last issued its earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.67). The business had revenue of $44.70 million for the quarter, compared to analysts’ expectations of $77.63 million. Xencor had a negative return on equity of 18.67% and a negative net margin of 74.90%. The business’s quarterly revenue was up 106.9% on a year-over-year basis. During the same period last year, the company posted ($0.20) earnings per share. On average, equities analysts forecast that Xencor will post -3.25 EPS for the current year.

Insider Buying and Selling at Xencor

In other Xencor news, VP John R. Desjarlais sold 54,108 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $19.38, for a total transaction of $1,048,613.04. Following the sale, the vice president now owns 161,675 shares in the company, valued at approximately $3,133,261.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Xencor news, VP John R. Desjarlais sold 54,108 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $19.38, for a total transaction of $1,048,613.04. Following the sale, the vice president now owns 161,675 shares in the company, valued at approximately $3,133,261.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP John R. Desjarlais sold 1,280 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $23.50, for a total value of $30,080.00. Following the transaction, the vice president now directly owns 186,433 shares in the company, valued at approximately $4,381,175.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,351 shares of company stock worth $2,152,417. 4.97% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in XNCR. Price T Rowe Associates Inc. MD lifted its stake in shares of Xencor by 12.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,599,071 shares of the biopharmaceutical company’s stock worth $180,617,000 after purchasing an additional 744,569 shares during the period. Primecap Management Co. CA lifted its stake in shares of Xencor by 8.8% during the 4th quarter. Primecap Management Co. CA now owns 8,901,607 shares of the biopharmaceutical company’s stock worth $188,981,000 after purchasing an additional 717,401 shares during the period. Armistice Capital LLC lifted its stake in shares of Xencor by 65.7% during the 3rd quarter. Armistice Capital LLC now owns 1,478,000 shares of the biopharmaceutical company’s stock worth $29,782,000 after purchasing an additional 586,000 shares during the period. Norges Bank purchased a new position in shares of Xencor during the 4th quarter worth $14,034,000. Finally, State Street Corp lifted its stake in shares of Xencor by 19.7% during the 1st quarter. State Street Corp now owns 2,968,901 shares of the biopharmaceutical company’s stock worth $79,210,000 after purchasing an additional 488,131 shares during the period.

Xencor Company Profile

Xencor, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of engineered monoclonal antibody and cytokine therapeutics to treat patients with cancer and autoimmune diseases. The company provides Sotrovimab that targets the SARS-CoV-2 virus; Ultomiris for the treatment of patients with paroxysmal nocturnal hemoglobinuria and atypical hemolytic uremic syndrome; and Monjuvi for the treatment of patients with relapsed or refractory diffuse large B-cell lymphoma.