Xencor, Inc. (NASDAQ:XNCR) Given Average Recommendation of “Buy” by Analysts

Shares of Xencor, Inc. (NASDAQ:XNCR) have received a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $34.88.

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Piper Sandler upgraded shares of Xencor from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $20.00 to $30.00 in a report on Monday, December 2nd. BMO Capital Markets restated an “outperform” rating and issued a $34.00 target price (up previously from $32.00) on shares of Xencor in a research note on Friday, November 8th. Wedbush restated an “outperform” rating and set a $38.00 price objective on shares of Xencor in a report on Thursday, November 7th. Finally, Wells Fargo & Company started coverage on Xencor in a research report on Thursday, December 12th. They set an “overweight” rating and a $37.00 price target on the stock.

Insider Activity

In related news, Director Alan Bruce Montgomery sold 1,421 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $27.03, for a total value of $38,409.63. Following the completion of the transaction, the director now directly owns 9,140 shares in the company, valued at approximately $247,054.20. The trade was a 13.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bassil I. Dahiyat sold 49,278 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $24.07, for a total value of $1,186,121.46. Following the transaction, the chief executive officer now owns 352,615 shares in the company, valued at $8,487,443.05. This trade represents a 12.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 136,050 shares of company stock worth $3,277,609 in the last three months. Corporate insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Xencor

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP purchased a new stake in Xencor during the 2nd quarter valued at $36,000. GAMMA Investing LLC raised its position in shares of Xencor by 31.0% in the 4th quarter. GAMMA Investing LLC now owns 2,147 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 508 shares in the last quarter. KBC Group NV raised its holdings in Xencor by 63.5% in the third quarter. KBC Group NV now owns 3,123 shares of the biopharmaceutical company’s stock worth $63,000 after purchasing an additional 1,213 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Xencor by 49.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,041 shares of the biopharmaceutical company’s stock valued at $93,000 after acquiring an additional 1,337 shares during the period. Finally, Rockefeller Capital Management L.P. bought a new stake in shares of Xencor in the 3rd quarter worth approximately $205,000.

Xencor Price Performance

Xencor stock opened at $17.04 on Monday. Xencor has a 12 month low of $15.31 and a 12 month high of $27.24. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -5.33 and a beta of 0.70. The stock’s 50 day moving average is $22.41 and its 200-day moving average is $20.98. The company has a current ratio of 6.23, a quick ratio of 6.23 and a debt-to-equity ratio of 0.01.

Xencor (NASDAQ:XNCR) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) EPS for the quarter, beating the consensus estimate of ($0.98) by $0.27. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The company had revenue of $10.70 million during the quarter, compared to analysts’ expectations of $14.59 million. During the same period in the previous year, the company earned ($0.40) EPS. The business’s revenue for the quarter was down 81.9% compared to the same quarter last year. Equities research analysts expect that Xencor will post -3.68 EPS for the current year.

Xencor Company Profile

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.