Xencor (NASDAQ:XNCR) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Xencor (NASDAQ:XNCR) had its price objective upped by analysts at Royal Bank Of Canada from $18.00 to $19.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 36.69% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xencor in a report on Tuesday, October 14th. Wedbush reaffirmed an “outperform” rating and set a $26.00 price objective on shares of Xencor in a research note on Tuesday, September 2nd. Cantor Fitzgerald lifted their price objective on Xencor from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Thursday. Wells Fargo & Company dropped their target price on Xencor from $33.00 to $27.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Finally, Barclays upgraded Xencor from an “underweight” rating to an “overweight” rating and raised their price target for the stock from $6.00 to $23.00 in a research report on Wednesday, October 29th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.63.

Xencor Price Performance

NASDAQ:XNCR opened at $13.90 on Thursday. The business has a 50 day moving average of $11.71 and a 200 day moving average of $9.69. The company has a market capitalization of $991.39 million, a price-to-earnings ratio of -5.79 and a beta of 0.99. Xencor has a 1-year low of $6.92 and a 1-year high of $27.24.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.64. The business had revenue of $21.00 million for the quarter, compared to analysts’ expectations of $29.73 million. Xencor had a negative net margin of 121.52% and a negative return on equity of 25.75%. The business’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period last year, the business earned ($0.71) earnings per share. As a group, sell-side analysts anticipate that Xencor will post -3.68 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Primecap Management Co. CA grew its position in shares of Xencor by 7.9% in the 2nd quarter. Primecap Management Co. CA now owns 10,527,322 shares of the biopharmaceutical company’s stock worth $82,745,000 after buying an additional 766,310 shares during the period. BVF Inc. IL boosted its stake in Xencor by 19.7% during the first quarter. BVF Inc. IL now owns 2,740,141 shares of the biopharmaceutical company’s stock worth $29,155,000 after acquiring an additional 451,381 shares in the last quarter. Geode Capital Management LLC grew its holdings in Xencor by 1.8% in the second quarter. Geode Capital Management LLC now owns 1,703,664 shares of the biopharmaceutical company’s stock worth $13,393,000 after purchasing an additional 29,316 shares during the period. Braidwell LP grew its holdings in Xencor by 169.0% in the first quarter. Braidwell LP now owns 1,655,690 shares of the biopharmaceutical company’s stock worth $17,617,000 after purchasing an additional 1,040,159 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Xencor by 94.5% during the second quarter. Bank of America Corp DE now owns 938,993 shares of the biopharmaceutical company’s stock valued at $7,380,000 after purchasing an additional 456,302 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.