Xencor (NASDAQ:XNCR) Releases Quarterly Earnings Results, Misses Estimates By $0.25 EPS

Xencor (NASDAQ:XNCR) issued its earnings results on Monday. The biopharmaceutical company reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.25), Briefing.com reports. The company had revenue of $16.96 million during the quarter, compared to analysts’ expectations of $21.13 million. Xencor had a negative return on equity of 20.29% and a negative net margin of 82.23%. The firm’s quarterly revenue was down 62.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.37) EPS.

Xencor Price Performance

Xencor stock traded down $2.15 during midday trading on Wednesday, reaching $15.70. The company had a trading volume of 1,072,853 shares, compared to its average volume of 639,903. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.08 and a quick ratio of 7.08. Xencor has a 12-month low of $15.31 and a 12-month high of $26.84. The company has a market capitalization of $968.06 million, a P/E ratio of -7.21 and a beta of 0.69. The firm’s fifty day simple moving average is $20.25 and its 200-day simple moving average is $21.24.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on XNCR shares. JPMorgan Chase & Co. decreased their price target on Xencor from $30.00 to $27.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Wedbush reiterated an “outperform” rating and issued a $34.00 target price (down from $36.00) on shares of Xencor in a research note on Thursday, June 13th. Raymond James dropped their price target on shares of Xencor from $58.00 to $40.00 and set a “strong-buy” rating on the stock in a research report on Friday, June 14th. BTIG Research decreased their price objective on shares of Xencor from $56.00 to $38.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $31.00 target price on shares of Xencor in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.44.

Insiders Place Their Bets

In other news, VP John R. Desjarlais sold 36,329 shares of Xencor stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $18.32, for a total value of $665,547.28. Following the sale, the vice president now directly owns 192,319 shares of the company’s stock, valued at $3,523,284.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.23% of the stock is owned by company insiders.

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.