Xencor (NASDAQ:XNCR) PT Raised to $34.00 at Royal Bank of Canada

Xencor (NASDAQ:XNCR) had its price target hoisted by research analysts at Royal Bank of Canada from $31.00 to $34.00 in a report released on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target points to a potential upside of 67.90% from the company’s previous close.

XNCR has been the topic of several other research reports. Raymond James decreased their price target on Xencor from $58.00 to $40.00 and set a “strong-buy” rating on the stock in a research note on Friday, June 14th. Wedbush reiterated an “outperform” rating and set a $34.00 target price on shares of Xencor in a research report on Monday, September 9th. JPMorgan Chase & Co. reduced their price target on shares of Xencor from $30.00 to $27.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $32.00 price objective on shares of Xencor in a report on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.78.

Xencor Trading Down 1.0 %

Shares of XNCR stock opened at $20.25 on Thursday. The firm has a fifty day moving average of $18.61 and a 200-day moving average of $20.35. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -9.25 and a beta of 0.66. Xencor has a 52-week low of $15.31 and a 52-week high of $26.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 6.92 and a current ratio of 6.92.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings results on Monday, August 5th. The biopharmaceutical company reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $16.96 million for the quarter, compared to the consensus estimate of $21.13 million. During the same quarter in the prior year, the business earned ($0.37) EPS. The firm’s revenue for the quarter was down 62.7% on a year-over-year basis. On average, equities research analysts forecast that Xencor will post -4.15 earnings per share for the current fiscal year.

Insider Activity

In other news, VP John R. Desjarlais sold 36,329 shares of the stock in a transaction 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 transaction, the vice president now owns 192,319 shares of the company’s stock, valued at approximately $3,523,284.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 5.23% of the company’s stock.

Institutional Investors Weigh In On Xencor

Several hedge funds have recently bought and sold shares of XNCR. Charles Schwab Investment Management Inc. lifted its holdings in Xencor by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 520,698 shares of the biopharmaceutical company’s stock worth $11,054,000 after acquiring an additional 32,251 shares in the last quarter. Norges Bank bought a new position in shares of Xencor during the 4th quarter valued at about $6,909,000. Quest Partners LLC acquired a new position in shares of Xencor in the 4th quarter valued at approximately $61,000. Parallel Advisors LLC increased its stake in Xencor by 303.9% during the 4th quarter. Parallel Advisors LLC now owns 1,349 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 1,015 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its holdings in Xencor by 8.2% during the 4th quarter. Rafferty Asset Management LLC now owns 119,818 shares of the biopharmaceutical company’s stock worth $2,544,000 after buying an additional 9,131 shares during the period.

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.