Xencor (NASDAQ:XNCR) Given “Outperform” Rating at Wedbush

Wedbush reissued their outperform rating on shares of Xencor (NASDAQ:XNCR) in a research report released on Thursday morning,RTT News reports. They currently have a $26.00 target price on the biopharmaceutical company’s stock.

XNCR has been the topic of several other reports. Cantor Fitzgerald upped their price objective on shares of Xencor from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Thursday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xencor in a report on Tuesday, October 14th. Bank of America downgraded Xencor from a “buy” rating to a “neutral” rating and cut their price target for the stock from $23.00 to $12.00 in a research report on Wednesday, September 3rd. Barclays upgraded Xencor from an “underweight” rating to an “overweight” rating and upped their target price for the stock from $6.00 to $23.00 in a research note on Wednesday, October 29th. Finally, Wells Fargo & Company reduced their price target on Xencor from $33.00 to $27.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.67.

Xencor Stock Performance

Shares of XNCR opened at $14.00 on Thursday. The stock has a 50-day moving average of $11.59 and a two-hundred day moving average of $9.67. The stock has a market cap of $998.52 million, a P/E ratio of -5.83 and a beta of 0.99. Xencor has a one year low of $6.92 and a one year high of $27.24.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.64. Xencor had a negative return on equity of 25.75% and a negative net margin of 121.52%.The business had revenue of $21.00 million for the quarter, compared to analyst estimates of $29.73 million. During the same period in the prior year, the company earned ($0.71) earnings per share. The company’s revenue was up 18.0% on a year-over-year basis. Analysts predict that Xencor will post -3.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in XNCR. State of Wyoming purchased a new position in Xencor during the first quarter worth about $34,000. CWM LLC boosted its holdings in Xencor by 195.5% in the first quarter. CWM LLC now owns 3,372 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 2,231 shares during the period. Hantz Financial Services Inc. grew its position in shares of Xencor by 209.1% during the third quarter. Hantz Financial Services Inc. now owns 3,187 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 2,156 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Xencor by 77.1% in the 3rd quarter. GAMMA Investing LLC now owns 3,328 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 1,449 shares during the last quarter. Finally, Farther Finance Advisors LLC purchased a new stake in Xencor during the 3rd quarter worth about $44,000.

About Xencor

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.