Xencor (NASDAQ:XNCR) Posts Quarterly Earnings Results, Beats Expectations By $0.83 EPS

Xencor (NASDAQ:XNCR) released its quarterly earnings data on Wednesday. The biopharmaceutical company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.83, FiscalAI reports. Xencor had a negative net margin of 155.59% and a negative return on equity of 28.66%. The company had revenue of $116.52 million during the quarter, compared to analyst estimates of $63.00 million. During the same quarter in the prior year, the business earned ($0.08) earnings per share. The business’s quarterly revenue was up 453.3% compared to the same quarter last year.

Xencor Price Performance

Xencor stock opened at $35.03 on Thursday. Xencor has a 12-month low of $10.38 and a 12-month high of $35.05. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of -16.14 and a beta of 0.78. The firm’s fifty day moving average price is $25.92 and its 200 day moving average price is $17.24.

Wall Street Analysts Forecast Growth

XNCR has been the subject of a number of research reports. Raymond James Financial upped their price target on shares of Xencor from $40.00 to $46.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, September 1st. Bank of America raised their price objective on Xencor from $20.00 to $26.00 and gave the company a “neutral” rating in a research report on Monday, September 21st. Cantor Fitzgerald boosted their price objective on Xencor from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Truist Financial boosted their price objective on Xencor from $29.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, October 27th. Finally, Wall Street Zen raised Xencor from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $39.33.

Xencor Company Profile

Xencor, Inc is a clinical-stage biopharmaceutical company headquartered in Monrovia, California. Founded in 1997, the company develops engineered antibodies and other biologic medicines for the treatment of cancer, autoimmune disorders and other serious diseases.

Xencor’s research is centered on its XmAb technology platform, which is designed to modify antibodies to improve their therapeutic properties or create new antibody-based mechanisms. The platform supports the development of bispecific antibodies, immune-cell engagers and antibodies with extended activity in the body.