Shares of Xencor, Inc. (NASDAQ:XNCR – Get Free Report) hit a new 52-week high on Thursday following a better than expected earnings announcement. The company traded as high as $21.96 and last traded at $20.3590, with a volume of 77048 shares traded. The stock had previously closed at $19.84.
The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.51. Xencor had a negative return on equity of 28.77% and a negative net margin of 177.10%.The company had revenue of $51.22 million for the quarter, compared to analyst estimates of $18.89 million. During the same period in the previous year, the firm earned ($0.41) earnings per share. Xencor’s revenue for the quarter was up 17.4% compared to the same quarter last year.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on XNCR. Wedbush reaffirmed an “outperform” rating and issued a $26.00 target price on shares of Xencor in a research report on Thursday, July 30th. Cantor Fitzgerald lifted their target price on Xencor from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday. Truist Financial dropped their target price on Xencor from $29.00 to $27.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Zacks Research upgraded shares of Xencor from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Xencor from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Xencor has a consensus rating of “Moderate Buy” and a consensus target price of $24.62.
Institutional Investors Weigh In On Xencor
Several institutional investors and hedge funds have recently modified their holdings of the business. Jefferies Financial Group Inc. lifted its position in shares of Xencor by 620.4% in the fourth quarter. Jefferies Financial Group Inc. now owns 720,440 shares of the biopharmaceutical company’s stock worth $11,030,000 after buying an additional 620,440 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Xencor by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 7,165,450 shares of the biopharmaceutical company’s stock valued at $109,703,000 after acquiring an additional 61,692 shares in the last quarter. Erste Asset Management GmbH boosted its position in Xencor by 26.3% during the fourth quarter. Erste Asset Management GmbH now owns 480,200 shares of the biopharmaceutical company’s stock worth $7,347,000 after purchasing an additional 100,000 shares during the period. BVF Inc. IL boosted its position in Xencor by 160.3% during the fourth quarter. BVF Inc. IL now owns 7,133,720 shares of the biopharmaceutical company’s stock worth $109,217,000 after purchasing an additional 4,393,579 shares during the period. Finally, Seven Fleet Capital Management LP acquired a new position in Xencor during the fourth quarter valued at approximately $1,677,000.
Xencor Price Performance
The company has a market cap of $1.48 billion, a price-to-earnings ratio of -8.77 and a beta of 0.85. The firm has a fifty day simple moving average of $15.35 and a 200 day simple moving average of $13.27.
About Xencor
Xencor, Inc is a clinical-stage biopharmaceutical company focused on the design and development of engineered protein therapeutics for the treatment of autoimmune diseases, cancer and neurological disorders. The company applies its proprietary XmAb® platform to manipulate antibody structure and function, creating molecules with enhanced immune engagement and extended half-life. Xencor’s research programs span a range of therapeutic modalities, including monoclonal antibodies, bispecific antibodies and cytokine-based fusion proteins.
The XmAb® platform enables precise modification of the Fc region to augment key properties such as receptor binding, effector function and pharmacokinetics.
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