Xencor, Inc. (NASDAQ:XNCR) Stock Has Average Price Target of $31.12

Shares of Xencor, Inc. (NASDAQ:XNCR) have earned an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $31.38.

Several research analysts have recently weighed in on XNCR shares. Raymond James Financial increased their price target on Xencor from $40.00 to $46.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, September 1st. Truist Financial reissued a “buy” rating and issued a $29.00 price target (up from $27.00) on shares of Xencor in a research report on Monday. Bank of America upped their price target on shares of Xencor from $20.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, September 21st. Cantor Fitzgerald lifted their price objective on shares of Xencor from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada boosted their target price on shares of Xencor from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday, August 6th.

Hedge Funds Weigh In On Xencor

Several hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC purchased a new stake in shares of Xencor in the second quarter worth about $30,000. Allworth Financial LP bought a new position in shares of Xencor in the second quarter valued at approximately $55,000. EP Wealth Advisors LLC purchased a new position in Xencor during the second quarter valued at approximately $218,000. AXQ Capital LP bought a new stake in Xencor during the 2nd quarter worth approximately $261,000. Finally, ProShare Advisors LLC increased its holdings in Xencor by 6.5% during the 4th quarter. ProShare Advisors LLC now owns 16,853 shares of the biopharmaceutical company’s stock worth $258,000 after acquiring an additional 1,026 shares during the period.

Xencor Trading Up 7.6%

Xencor stock opened at $25.60 on Friday. Xencor has a 12 month low of $10.38 and a 12 month high of $30.61. The business’s 50 day simple moving average is $23.91 and its 200 day simple moving average is $16.76. The company has a market cap of $1.90 billion, a price-to-earnings ratio of -11.80 and a beta of 0.88.

Xencor (NASDAQ:XNCR) last released its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.51. The business had revenue of $51.22 million during the quarter, compared to the consensus estimate of $18.89 million. Xencor had a negative return on equity of 28.66% and a negative net margin of 155.59%.The business’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period last year, the business posted ($0.41) earnings per share. As a group, equities research analysts forecast that Xencor will post -3.05 earnings per share for the current fiscal year.

About Xencor

Xencor, Inc is a clinical-stage biopharmaceutical company that develops engineered antibodies and cytokine therapeutics for the treatment of cancer, autoimmune diseases and other serious medical conditions. The company’s platform is designed to modify antibody properties, including immune-system activation, half-life and biological activity, to create differentiated therapeutic candidates.

Xencor’s proprietary XmAb technology supports its internal research programs and collaborations with other biopharmaceutical companies.