Zacks Investment Research upgraded shares of Xencor (NASDAQ:XNCR) from a hold rating to a buy rating in a report issued on Friday. They currently have $47.00 price objective on the biopharmaceutical company’s stock.
According to Zacks, “Xencor Inc. is a clinical-stage biopharmaceutical company. It develops antibodies for the treatment of autoimmune diseases, asthma and allergic diseases, and cancer. Xencor Inc. is based in Monrovia, California. “
Several other research firms have also recently commented on XNCR. Canaccord Genuity boosted their price target on shares of Xencor from $38.00 to $45.00 and gave the company a buy rating in a report on Wednesday, August 8th. Piper Jaffray Companies restated an overweight rating on shares of Xencor in a report on Tuesday, August 7th. Cantor Fitzgerald restated a buy rating and set a $40.00 price target on shares of Xencor in a report on Tuesday. BTIG Research initiated coverage on shares of Xencor in a report on Monday, September 10th. They set a buy rating and a $56.00 price target on the stock. Finally, BidaskClub cut shares of Xencor from a strong-buy rating to a buy rating in a report on Tuesday, July 31st. Two 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. Xencor presently has an average rating of Buy and an average price target of $41.13.
Shares of Xencor stock traded down $1.84 on Friday, hitting $37.88. 184,118 shares of the company traded hands, compared to its average volume of 253,280. Xencor has a 12-month low of $19.50 and a 12-month high of $48.38. The stock has a market cap of $2.34 billion, a P/E ratio of -36.08 and a beta of 1.73.
Xencor (NASDAQ:XNCR) last posted its quarterly earnings results on Monday, November 5th. The biopharmaceutical company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.52) by $0.57. The company had revenue of $29.04 million for the quarter. On average, research analysts anticipate that Xencor will post -1.69 earnings per share for the current year.
In related news, major shareholder John S. Stafford III sold 1,000 shares of the company’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $48.05, for a total value of $48,050.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul A. Foster sold 40,000 shares of the company’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $46.03, for a total transaction of $1,841,200.00. Following the completion of the sale, the insider now owns 44,952 shares of the company’s stock, valued at $2,069,140.56. The disclosure for this sale can be found here. Insiders sold 127,341 shares of company stock valued at $5,390,865 over the last quarter. 4.70% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Bank of Montreal Can bought a new stake in Xencor in the second quarter worth $232,000. First Trust Advisors LP bought a new stake in Xencor in the second quarter worth $2,378,000. Metropolitan Life Insurance Co. NY boosted its holdings in Xencor by 16.3% in the second quarter. Metropolitan Life Insurance Co. NY now owns 15,127 shares of the biopharmaceutical company’s stock worth $560,000 after purchasing an additional 2,116 shares in the last quarter. Opaleye Management Inc. bought a new stake in Xencor in the second quarter worth $6,661,000. Finally, California Public Employees Retirement System bought a new stake in Xencor in the second quarter worth $1,832,000. Hedge funds and other institutional investors own 83.03% of the company’s stock.
Xencor Company Profile
Xencor, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of engineered monoclonal antibody therapeutics to treat severe and life threatening diseases with unmet medical needs. It develops its antibody product candidates to treat autoimmune and allergic diseases, cancer, and other conditions.
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