Xencor, Inc. (NASDAQ:XNCR – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $22.22 and last traded at $22.10, with a volume of 1109982 shares. The stock had previously closed at $21.58.
Wall Street Analyst Weigh In
A number of research firms have weighed in on XNCR. Royal Bank Of Canada lifted their price objective on Xencor from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Wedbush increased their target price on Xencor from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Truist Financial cut their target price on Xencor from $29.00 to $27.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Wall Street Zen raised Xencor from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, JPMorgan Chase & Co. upped their price target on Xencor from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $24.86.
Read Our Latest Analysis on Xencor
Xencor Price Performance
Xencor (NASDAQ:XNCR – Get Free Report) last posted its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.51. The company had revenue of $51.22 million during the quarter, compared to analysts’ expectations of $18.89 million. Xencor had a negative net margin of 155.59% and a negative return on equity of 28.66%. Xencor’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.41) earnings per share. On average, research analysts anticipate that Xencor, Inc. will post -3 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Xencor
Several institutional investors have recently bought and sold shares of XNCR. BlackRock Inc. bought a new stake in shares of Xencor during the second quarter worth $219,785,000. Vanguard Group Inc. lifted its position in Xencor by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 7,165,450 shares of the biopharmaceutical company’s stock worth $109,703,000 after buying an additional 61,692 shares in the last quarter. BVF Inc. IL grew its holdings in Xencor by 160.3% during the 4th quarter. BVF Inc. IL now owns 7,133,720 shares of the biopharmaceutical company’s stock worth $109,217,000 after acquiring an additional 4,393,579 shares during the last quarter. RTW Investments LP increased its position in Xencor by 8.9% in the 4th quarter. RTW Investments LP now owns 6,777,461 shares of the biopharmaceutical company’s stock valued at $103,763,000 after acquiring an additional 556,407 shares in the last quarter. Finally, State Street Corp increased its position in Xencor by 22.7% in the 4th quarter. State Street Corp now owns 4,507,254 shares of the biopharmaceutical company’s stock valued at $69,006,000 after acquiring an additional 833,423 shares in the last quarter.
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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