Xencor (NASDAQ:XNCR) Price Target Cut to $38.00

Xencor (NASDAQ:XNCR) had its price objective reduced by BTIG Research from $56.00 to $38.00 in a report issued on Tuesday, MarketBeat Ratings reports. They currently have a buy rating on the biopharmaceutical company’s stock.

XNCR has been the subject of several other research reports. Mizuho lowered their price objective on Xencor from $59.00 to $50.00 and set a buy rating for the company in a research report on Monday, January 22nd. Piper Sandler reissued a neutral rating and set a $24.00 price objective (down previously from $37.00) on shares of Xencor in a research report on Wednesday, February 28th. Wedbush lowered their price target on Xencor from $36.00 to $34.00 and set an outperform rating for the company in a research report on Wednesday, February 28th. BMO Capital Markets lowered their price target on Xencor from $38.00 to $34.00 and set an outperform rating for the company in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada reaffirmed an outperform rating and issued a $32.00 price target on shares of Xencor in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $36.00.

Xencor Stock Performance

NASDAQ:XNCR opened at $18.38 on Tuesday. The stock has a market cap of $1.12 billion, a P/E ratio of -8.57 and a beta of 0.76. The firm’s fifty day simple moving average is $22.25 and its 200 day simple moving average is $20.37. Xencor has a twelve month low of $16.49 and a twelve month high of $28.96. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 0.02.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($0.31) EPS for the quarter, missing the consensus estimate of $0.36 by ($0.67). The firm had revenue of $44.70 million for the quarter, compared to analysts’ expectations of $77.63 million. Xencor had a negative net margin of 74.90% and a negative return on equity of 18.67%. The business’s quarterly revenue was up 106.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.20) EPS. As a group, research analysts predict that Xencor will post -3.25 EPS for the current year.

Insider Buying and Selling

In related news, VP John R. Desjarlais sold 54,108 shares of Xencor stock in a transaction dated 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 sale, the vice president now directly owns 161,675 shares in the company, valued at approximately $3,133,261.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, VP John R. Desjarlais sold 54,108 shares of Xencor stock in a transaction dated 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 sale, the vice president now directly owns 161,675 shares in the company, valued at approximately $3,133,261.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kurt A. Gustafson sold 14,000 shares of Xencor stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $23.18, for a total value of $324,520.00. Following the completion of the sale, the director now owns 6,007 shares of the company’s stock, valued at $139,242.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,351 shares of company stock worth $2,152,417. 4.97% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Xencor

A number of large investors have recently made changes to their positions in the company. CWM LLC grew its stake in shares of Xencor by 498.7% during the 4th quarter. CWM LLC now owns 1,377 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 1,147 shares during the period. Parallel Advisors LLC grew its stake in shares of Xencor by 303.9% during the 4th quarter. Parallel Advisors LLC now owns 1,349 shares of the biopharmaceutical company’s stock valued at $29,000 after acquiring an additional 1,015 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of Xencor by 95.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,548 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 756 shares during the period. BluePath Capital Management LLC bought a new position in shares of Xencor during the 3rd quarter valued at approximately $31,000. Finally, Signaturefd LLC grew its stake in shares of Xencor by 367.7% during the 4th quarter. Signaturefd LLC now owns 1,464 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 1,151 shares during the period.

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.