Brokerages Set Xencor, Inc. (NASDAQ:XNCR) Price Target at $35.71

Shares of Xencor, Inc. (NASDAQ:XNCR) have received an average rating of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $35.71.

A number of equities research analysts have recently weighed in on XNCR shares. StockNews.com upgraded shares of Xencor from a “sell” rating to a “hold” rating in a research report on Saturday, March 9th. Wedbush dropped their price target on shares of Xencor from $36.00 to $34.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Mizuho dropped their price target on shares of Xencor from $59.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, January 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $32.00 price target on shares of Xencor in a research report on Wednesday, February 28th. Finally, BMO Capital Markets lowered their price objective on shares of Xencor from $38.00 to $34.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th.

Xencor Trading Down 1.8 %

Shares of NASDAQ:XNCR opened at $20.11 on Tuesday. Xencor has a 12-month low of $16.49 and a 12-month high of $30.21. The business has a 50 day moving average of $22.24 and a 200-day moving average of $20.40. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.36 and a current ratio of 7.36.

Xencor (NASDAQ:XNCR) last released its quarterly earnings results on Tuesday, February 27th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.67). Xencor had a negative net margin of 74.90% and a negative return on equity of 18.67%. The business had revenue of $44.70 million during the quarter, compared to analyst estimates of $77.63 million. During the same quarter in the previous year, the firm posted ($0.20) earnings per share. The firm’s quarterly revenue was up 106.9% on a year-over-year basis. On average, equities analysts predict that Xencor will post -3.25 earnings per share for the current year.

Insider Buying and Selling at Xencor

In other news, CEO Bassil I. Dahiyat sold 12,528 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $23.43, for a total value of $293,531.04. Following the completion of the transaction, the chief executive officer now directly owns 300,097 shares in the company, valued at approximately $7,031,272.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP John R. Desjarlais sold 54,108 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $19.38, for a total value of $1,048,613.04. Following the completion of the transaction, the vice president now directly owns 161,675 shares in the company, valued at approximately $3,133,261.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bassil I. Dahiyat sold 12,528 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $23.43, for a total value of $293,531.04. Following the completion of the transaction, the chief executive officer now owns 300,097 shares of the company’s stock, valued at $7,031,272.71. The disclosure for this sale can be found here. Insiders sold a total of 101,351 shares of company stock worth $2,152,417 over the last three months. Corporate insiders own 4.97% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. BlackRock Inc. increased its holdings in Xencor by 0.5% in the first quarter. BlackRock Inc. now owns 9,385,217 shares of the biopharmaceutical company’s stock valued at $250,396,000 after purchasing an additional 50,387 shares during the period. Primecap Management Co. CA increased its holdings in Xencor by 8.8% in the fourth quarter. Primecap Management Co. CA now owns 8,901,607 shares of the biopharmaceutical company’s stock valued at $188,981,000 after purchasing an additional 717,401 shares during the period. Vanguard Group Inc. increased its holdings in Xencor by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 6,767,249 shares of the biopharmaceutical company’s stock valued at $143,669,000 after purchasing an additional 115,886 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Xencor by 12.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 6,599,071 shares of the biopharmaceutical company’s stock valued at $180,617,000 after purchasing an additional 744,569 shares during the period. Finally, State Street Corp increased its holdings in Xencor by 3.9% in the first quarter. State Street Corp now owns 3,280,168 shares of the biopharmaceutical company’s stock valued at $91,484,000 after purchasing an additional 124,117 shares during the period.

About Xencor

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.