Xencor (NASDAQ:XNCR) Given New $27.00 Price Target at Barclays

Xencor (NASDAQ:XNCR) had its price target hoisted by research analysts at Barclays from $26.00 to $27.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. Barclays‘s price target would suggest a potential upside of 98.46% from the company’s previous close.

Several other brokerages have also issued reports on XNCR. Truist Financial assumed coverage on Xencor in a research note on Monday, November 24th. They set a “buy” rating and a $29.00 price target for the company. Royal Bank Of Canada upped their target price on Xencor from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xencor in a research report on Monday, December 29th. JPMorgan Chase & Co. lowered their price objective on shares of Xencor from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Finally, Wedbush reaffirmed an “outperform” rating and set a $26.00 target price on shares of Xencor in a report on Thursday, November 6th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

Xencor Stock Performance

Xencor stock traded up $1.63 during mid-day trading on Thursday, hitting $13.61. 192,648 shares of the company traded hands, compared to its average volume of 630,620. Xencor has a one year low of $6.92 and a one year high of $18.69. The stock has a market cap of $971.53 million, a price-to-earnings ratio of -7.55 and a beta of 0.98. The stock has a fifty day moving average price of $13.25 and a 200-day moving average price of $12.73.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings data on Wednesday, February 25th. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.64) by $0.55. Xencor had a negative net margin of 87.14% and a negative return on equity of 20.44%. The firm had revenue of $28.24 million for the quarter, compared to analysts’ expectations of $29.97 million. During the same quarter last year, the company posted ($0.62) EPS. The business’s quarterly revenue was down 46.6% on a year-over-year basis. Sell-side analysts predict that Xencor will post -3.68 EPS for the current year.

Insider Buying and Selling

In other Xencor news, VP John R. Desjarlais sold 73,367 shares of the stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $15.72, for a total value of $1,153,329.24. Following the completion of the sale, the vice president owned 236,574 shares in the company, valued at approximately $3,718,943.28. This trade represents a 23.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Bassil I. Dahiyat sold 114,377 shares of Xencor stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $15.71, for a total value of $1,796,862.67. Following the completion of the sale, the chief executive officer owned 466,635 shares in the company, valued at approximately $7,330,835.85. This represents a 19.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.76% of the company’s stock.

Hedge Funds Weigh In On Xencor

A number of institutional investors and hedge funds have recently made changes to their positions in XNCR. Primecap Management Co. CA boosted its holdings in Xencor by 1.4% in the third quarter. Primecap Management Co. CA now owns 10,675,022 shares of the biopharmaceutical company’s stock worth $125,218,000 after acquiring an additional 147,700 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Xencor by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 7,165,450 shares of the biopharmaceutical company’s stock valued at $109,703,000 after acquiring an additional 61,692 shares in the last quarter. BVF Inc. IL raised its position in shares of Xencor by 160.3% in the 4th quarter. BVF Inc. IL now owns 7,133,720 shares of the biopharmaceutical company’s stock worth $109,217,000 after purchasing an additional 4,393,579 shares during the last quarter. RTW Investments LP raised its position in shares of Xencor by 8.9% in the 4th quarter. RTW Investments LP now owns 6,777,461 shares of the biopharmaceutical company’s stock worth $103,763,000 after purchasing an additional 556,407 shares during the last quarter. Finally, State Street Corp boosted its stake in Xencor by 22.7% in the 4th quarter. State Street Corp now owns 4,507,254 shares of the biopharmaceutical company’s stock worth $69,006,000 after purchasing an additional 833,423 shares in the last quarter.

About Xencor

Xencor, Inc is a clinical-stage biopharmaceutical company focused on the design and development of engineered protein therapeutics for the treatment of autoimmune diseases, cancer and neurological disorders. The company applies its proprietary XmAb® platform to manipulate antibody structure and function, creating molecules with enhanced immune engagement and extended half-life. Xencor’s research programs span a range of therapeutic modalities, including monoclonal antibodies, bispecific antibodies and cytokine-based fusion proteins.

The XmAb® platform enables precise modification of the Fc region to augment key properties such as receptor binding, effector function and pharmacokinetics.