Xencor’s (XNCR) Outperform Rating Reiterated at BMO Capital Markets

BMO Capital Markets reiterated their outperform rating on shares of Xencor (NASDAQ:XNCR) in a research report sent to investors on Tuesday morning, Benzinga reports. BMO Capital Markets currently has a $32.00 price objective on the biopharmaceutical company’s stock.

Several other research analysts have also commented on XNCR. Wedbush reaffirmed an outperform rating and issued a $34.00 price target (down from $36.00) on shares of Xencor in a report on Thursday, June 13th. Raymond James decreased their price target on shares of Xencor from $58.00 to $40.00 and set a strong-buy rating for the company in a report on Friday, June 14th. Royal Bank of Canada reduced their target price on shares of Xencor from $32.00 to $31.00 and set an outperform rating for the company in a research note on Friday, June 14th. JPMorgan Chase & Co. reduced their target price on shares of Xencor from $30.00 to $27.00 and set an overweight rating for the company in a research note on Wednesday, July 31st. Finally, BTIG Research reduced their target price on shares of Xencor from $56.00 to $38.00 and set a buy rating for the company in a research note on Tuesday, April 16th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy 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 $34.44.

Xencor Stock Down 0.1 %

Xencor stock traded down $0.02 during midday trading on Tuesday, hitting $16.04. 348,019 shares of the stock were exchanged, compared to its average volume of 638,900. Xencor has a 1 year low of $15.31 and a 1 year high of $26.84. The firm has a market cap of $989.03 million, a P/E ratio of -7.32 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.92 and a quick ratio of 7.08. The company has a 50 day moving average price of $19.95 and a two-hundred day moving average price of $21.17.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings data on Monday, August 5th. The biopharmaceutical company reported ($1.07) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.25). Xencor had a negative return on equity of 28.23% and a negative net margin of 132.74%. The company had revenue of $16.96 million for the quarter, compared to analyst estimates of $21.13 million. During the same period in the prior year, the business earned ($0.37) earnings per share. Xencor’s revenue was down 62.7% on a year-over-year basis. On average, sell-side analysts predict that Xencor will post -3.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP John R. Desjarlais sold 36,329 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were 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 in the company, valued at approximately $3,523,284.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Primecap Management Co. CA increased its position in shares of Xencor by 0.3% in the second quarter. Primecap Management Co. CA now owns 9,116,202 shares of the biopharmaceutical company’s stock worth $172,570,000 after acquiring an additional 25,495 shares in the last quarter. Renaissance Technologies LLC grew its position in Xencor by 49.8% in the second quarter. Renaissance Technologies LLC now owns 65,323 shares of the biopharmaceutical company’s stock worth $1,237,000 after acquiring an additional 21,723 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Xencor by 6.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,459,427 shares of the biopharmaceutical company’s stock worth $27,628,000 after acquiring an additional 87,979 shares in the last quarter. WINTON GROUP Ltd grew its position in Xencor by 4.2% in the second quarter. WINTON GROUP Ltd now owns 46,481 shares of the biopharmaceutical company’s stock worth $880,000 after acquiring an additional 1,883 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Xencor by 14.5% in the second quarter. American Century Companies Inc. now owns 95,375 shares of the biopharmaceutical company’s stock worth $1,805,000 after buying an additional 12,083 shares during the last quarter.

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.