Wells Fargo & Company Initiates Coverage on Xencor (NASDAQ:XNCR)

Equities research analysts at Wells Fargo & Company started coverage on shares of Xencor (NASDAQ:XNCR) in a research note issued on Thursday, MarketBeat Ratings reports. The brokerage set an “overweight” rating and a $37.00 price target on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 53.97% from the stock’s current price.

A number of other brokerages have also commented on XNCR. Royal Bank of Canada lifted their price target on Xencor from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. lifted their price target on Xencor from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Wedbush reiterated an “outperform” rating and set a $38.00 price target on shares of Xencor in a report on Thursday, November 7th. Piper Sandler upgraded Xencor from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $20.00 to $30.00 in a report on Monday, December 2nd. Finally, BMO Capital Markets restated an “outperform” rating and issued a $34.00 target price (up from $32.00) on shares of Xencor in a research note on Friday, November 8th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $36.56.

Xencor Stock Down 2.9 %

XNCR stock opened at $24.03 on Thursday. Xencor has a twelve month low of $15.31 and a twelve month high of $27.24. The company has a quick ratio of 6.23, a current ratio of 6.23 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average is $23.03 and its 200-day moving average is $20.68. The firm has a market capitalization of $1.68 billion, a PE ratio of -7.51 and a beta of 0.69.

Xencor (NASDAQ:XNCR) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.98) by $0.27. The company had revenue of $10.70 million for the quarter, compared to analyst estimates of $14.59 million. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. The company’s revenue for the quarter was down 81.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.40) earnings per share. Sell-side analysts expect that Xencor will post -3.71 EPS for the current fiscal year.

Insider Activity

In other news, Director Alan Bruce Montgomery sold 1,421 shares of Xencor stock in a transaction on Wednesday, December 4th. The stock was 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John R. Desjarlais sold 68,684 shares of Xencor stock in a transaction on Monday, November 11th. The shares were sold at an average price of $23.48, for a total value of $1,612,700.32. Following the completion of the transaction, the vice president now owns 200,104 shares of the company’s stock, valued at approximately $4,698,441.92. This trade represents a 25.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 136,050 shares of company stock worth $3,277,609. 5.23% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Xencor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC purchased a new position in Xencor during the third quarter worth about $540,000. Geode Capital Management LLC grew its position in Xencor by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,455,350 shares of the biopharmaceutical company’s stock worth $29,273,000 after buying an additional 17,658 shares in the last quarter. Barclays PLC grew its position in Xencor by 100.7% during the third quarter. Barclays PLC now owns 155,568 shares of the biopharmaceutical company’s stock worth $3,128,000 after buying an additional 78,066 shares in the last quarter. XTX Topco Ltd grew its position in Xencor by 113.2% during the third quarter. XTX Topco Ltd now owns 22,080 shares of the biopharmaceutical company’s stock worth $444,000 after buying an additional 11,725 shares in the last quarter. Finally, Jane Street Group LLC grew its position in Xencor by 18.6% during the third quarter. Jane Street Group LLC now owns 168,431 shares of the biopharmaceutical company’s stock worth $3,387,000 after buying an additional 26,473 shares in the last quarter.

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.