Brokerages Set Xencor, Inc. (NASDAQ:XNCR) Target Price at $23.71

Shares of Xencor, Inc. (NASDAQ:XNCR) have been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $23.7143.

Several research firms have recently issued reports on XNCR. Barclays reduced their target price on Xencor from $22.00 to $6.00 and set an “underweight” rating on the stock in a report on Thursday, May 8th. Royal Bank Of Canada reduced their price target on shares of Xencor from $32.00 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, August 21st. Wedbush lowered their price objective on shares of Xencor from $31.00 to $26.00 and set an “outperform” rating for the company in a research report on Thursday, August 7th. Finally, Wells Fargo & Company cut their target price on Xencor from $33.00 to $27.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th.

Insider Buying and Selling

In other Xencor news, Director Richard J. Ranieri sold 2,993 shares of the business’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $9.22, for a total transaction of $27,595.46. Following the completion of the transaction, the director owned 19,183 shares of the company’s stock, valued at approximately $176,867.26. The trade was a 13.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ellen Feigal sold 2,993 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $9.22, for a total transaction of $27,595.46. Following the completion of the transaction, the director directly owned 19,183 shares of the company’s stock, valued at $176,867.26. This trade represents a 13.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,194 shares of company stock worth $103,209 in the last ninety days. 5.23% of the stock is owned by insiders.

Hedge Funds Weigh In On Xencor

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC boosted its position in Xencor by 732.4% in the fourth quarter. Sterling Capital Management LLC now owns 1,182 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 1,040 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Xencor in the 4th quarter valued at $34,000. State of Wyoming acquired a new stake in shares of Xencor during the 1st quarter valued at $34,000. CWM LLC boosted its holdings in shares of Xencor by 195.5% during the 1st quarter. CWM LLC now owns 3,372 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 2,231 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Xencor by 118.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company’s stock worth $44,000 after acquiring an additional 3,018 shares during the last quarter.

Xencor Stock Performance

XNCR opened at $7.90 on Friday. The stock has a fifty day moving average of $8.31 and a 200-day moving average of $10.04. The company has a market capitalization of $563.43 million, a P/E ratio of -3.29 and a beta of 0.89. Xencor has a fifty-two week low of $6.92 and a fifty-two week high of $27.24.

Xencor (NASDAQ:XNCR) last released its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.37. Xencor had a negative net margin of 121.52% and a negative return on equity of 25.75%. The business had revenue of $43.61 million for the quarter, compared to analyst estimates of $22.59 million. During the same period last year, the firm earned ($1.07) earnings per share. Xencor’s revenue for the quarter was up 82.4% compared to the same quarter last year. On average, equities research analysts predict that Xencor will post -3.68 earnings per share for the current fiscal year.

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.