BMO Capital Markets Reaffirms “Outperform” Rating for Xencor (NASDAQ:XNCR)

Xencor (NASDAQ:XNCR)‘s stock had its “outperform” rating reissued by research analysts at BMO Capital Markets in a note issued to investors on Friday,Benzinga reports. They presently have a $34.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $32.00. BMO Capital Markets’ price target indicates a potential upside of 44.07% from the stock’s previous close.

XNCR has been the subject of several other research reports. Wedbush reiterated an “outperform” rating and issued a $38.00 target price on shares of Xencor in a research note on Thursday. JPMorgan Chase & Co. boosted their price objective on Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Royal Bank of Canada lifted their price target on shares of Xencor from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Xencor presently has an average rating of “Moderate Buy” and an average target price of $35.56.

Xencor Stock Performance

XNCR traded up $0.42 during midday trading on Friday, reaching $23.60. The company’s stock had a trading volume of 77,269 shares, compared to its average volume of 594,585. The company has a current ratio of 6.92, a quick ratio of 6.92 and a debt-to-equity ratio of 0.02. The company has a fifty day simple moving average of $20.33 and a 200 day simple moving average of $20.23. The stock has a market cap of $1.65 billion, a P/E ratio of -7.36 and a beta of 0.66. Xencor has a twelve month low of $15.31 and a twelve month high of $26.84.

Xencor (NASDAQ:XNCR) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.27. Xencor had a negative net margin of 232.77% and a negative return on equity of 32.25%. The business had revenue of $10.70 million for the quarter, compared to analyst estimates of $14.59 million. During the same quarter in the previous year, the firm posted ($0.40) earnings per share. Xencor’s revenue was down 81.9% compared to the same quarter last year. Research analysts expect that Xencor will post -4.11 earnings per share for the current year.

Institutional Trading of Xencor

Hedge funds have recently modified their holdings of the company. Texas Permanent School Fund Corp boosted its holdings in shares of Xencor by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 53,277 shares of the biopharmaceutical company’s stock worth $1,179,000 after acquiring an additional 690 shares in the last quarter. Linden Thomas Advisory Services LLC increased its stake in shares of Xencor by 1.6% in the second quarter. Linden Thomas Advisory Services LLC now owns 43,643 shares of the biopharmaceutical company’s stock valued at $826,000 after buying an additional 699 shares in the last quarter. Baillie Gifford & Co. raised its holdings in shares of Xencor by 3.3% in the second quarter. Baillie Gifford & Co. now owns 23,530 shares of the biopharmaceutical company’s stock valued at $445,000 after buying an additional 744 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in Xencor by 3.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 31,000 shares of the biopharmaceutical company’s stock worth $587,000 after buying an additional 900 shares in the last quarter. Finally, Diversified Trust Co lifted its position in Xencor by 7.8% during the 2nd quarter. Diversified Trust Co now owns 14,076 shares of the biopharmaceutical company’s stock worth $266,000 after buying an additional 1,017 shares in 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.