Xencor Inc (NASDAQ:XNCR) Expected to Post Quarterly Sales of $7.58 Million

Wall Street analysts expect Xencor Inc (NASDAQ:XNCR) to post $7.58 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Xencor’s earnings. The highest sales estimate is $15.10 million and the lowest is $3.50 million. The company is expected to announce its next quarterly earnings results on Monday, August 5th.

According to Zacks, analysts expect that Xencor will report full year sales of $127.78 million for the current financial year, with estimates ranging from $123.00 million to $135.46 million. For the next financial year, analysts forecast that the firm will report sales of $40.46 million, with estimates ranging from $8.00 million to $90.57 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Xencor.

Xencor (NASDAQ:XNCR) last released its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported $1.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.95. The company had revenue of $111.94 million during the quarter, compared to analyst estimates of $60.05 million.

XNCR has been the topic of a number of recent analyst reports. Raymond James started coverage on Xencor in a research note on Thursday, March 14th. They issued an “outperform” rating and a $27.85 price objective on the stock. Cantor Fitzgerald restated a “buy” rating and set a $40.00 price objective on shares of Xencor in a research report on Sunday, May 12th. Nomura cut Xencor from a “neutral” rating to a “reduce” rating and lowered their price objective for the company from $28.00 to $21.00 in a research report on Friday, February 22nd. BidaskClub raised Xencor from a “strong sell” rating to a “sell” rating in a research note on Tuesday, May 7th. Finally, Piper Jaffray Companies boosted their price objective on Xencor to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 26th. Two analysts have rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $42.44.

In related news, major shareholder John S. Stafford III acquired 1,100 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was purchased at an average cost of $29.90 per share, with a total value of $32,890.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder John S. Stafford III bought 14,611 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was acquired at an average price of $29.87 per share, for a total transaction of $436,430.57. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 35,852 shares of company stock worth $1,070,947. 4.70% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of XNCR. JPMorgan Chase & Co. lifted its position in shares of Xencor by 5.2% during the third quarter. JPMorgan Chase & Co. now owns 251,155 shares of the biopharmaceutical company’s stock worth $9,787,000 after acquiring an additional 12,320 shares in the last quarter. Rhenman & Partners Asset Management AB boosted its position in Xencor by 49.2% during the first quarter. Rhenman & Partners Asset Management AB now owns 325,965 shares of the biopharmaceutical company’s stock valued at $10,124,000 after buying an additional 107,428 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Xencor by 42.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 399,186 shares of the biopharmaceutical company’s stock worth $14,432,000 after purchasing an additional 119,347 shares during the period. Tekla Capital Management LLC purchased a new stake in shares of Xencor during the fourth quarter worth about $2,031,000. Finally, Geode Capital Management LLC lifted its holdings in Xencor by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 550,642 shares of the biopharmaceutical company’s stock worth $19,911,000 after buying an additional 38,127 shares during the period. Institutional investors and hedge funds own 83.51% of the company’s stock.

Shares of Xencor stock opened at $31.31 on Thursday. The stock has a market cap of $1.76 billion, a PE ratio of 48.17 and a beta of 1.31. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.66 and a quick ratio of 6.66. Xencor has a 52-week low of $27.75 and a 52-week high of $48.38.

About Xencor

Xencor, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of engineered monoclonal antibody and other protein 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.

See Also: Trading based on a resistance level

Get a free copy of the Zacks research report on Xencor (XNCR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Xencor (NASDAQ:XNCR)

Receive News & Ratings for Xencor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xencor and related companies with MarketBeat.com's FREE daily email newsletter.