Xencor (NASDAQ:XNCR) Stock Rating Reaffirmed as Buy by Truist Financial

Xencor (NASDAQ:XNCR)‘s stock had its “buy” rating reissued by analysts at Truist Financial in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $29.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $27.00. Truist Financial’s target price indicates a potential upside of 16.54% from the company’s current price.

Several other research firms have also recently issued reports on XNCR. Barclays increased their target price on Xencor from $27.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, September 11th. Wall Street Zen upgraded Xencor from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. Raymond James Financial upped their price objective on Xencor from $40.00 to $46.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xencor in a research report on Monday, September 21st. Finally, Bank of America raised their target price on Xencor from $20.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $31.38.

Xencor Price Performance

Shares of XNCR stock traded up $1.08 during mid-day trading on Monday, hitting $24.89. The stock had a trading volume of 319,910 shares, compared to its average volume of 950,037. Xencor has a fifty-two week low of $10.38 and a fifty-two week high of $30.61. The firm has a market cap of $1.85 billion, a PE ratio of -11.46 and a beta of 0.88. The company’s 50-day simple moving average is $23.78 and its 200-day simple moving average is $16.66.

Xencor (NASDAQ:XNCR) last issued its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.80) by $0.51. The business had revenue of $51.22 million for the quarter, compared to the consensus estimate of $18.89 million. Xencor had a negative net margin of 155.59% and a negative return on equity of 28.66%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.41) earnings per share. On average, analysts expect that Xencor will post -3.05 EPS for the current year.

Institutional Trading of Xencor

A number of institutional investors have recently bought and sold shares of XNCR. WINTON GROUP Ltd increased its position in Xencor by 1.5% during the 2nd quarter. WINTON GROUP Ltd now owns 106,247 shares of the biopharmaceutical company’s stock worth $1,711,000 after purchasing an additional 1,534 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Xencor in the second quarter valued at approximately $30,000. Squarepoint Ops LLC acquired a new position in shares of Xencor in the second quarter valued at approximately $459,000. Allworth Financial LP lifted its stake in shares of Xencor by 23.2% during the second quarter. Allworth Financial LP now owns 3,436 shares of the biopharmaceutical company’s stock valued at $55,000 after buying an additional 646 shares during the period. Finally, Seven Fleet Capital Management LP boosted its position in Xencor by 360.4% during the second quarter. Seven Fleet Capital Management LP now owns 368,305 shares of the biopharmaceutical company’s stock worth $5,930,000 after acquiring an additional 288,305 shares during the last quarter.

Xencor Company Profile

Xencor, Inc is a clinical-stage biopharmaceutical company that develops engineered antibodies and cytokine therapeutics for the treatment of cancer, autoimmune diseases and other serious medical conditions. The company’s platform is designed to modify antibody properties, including immune-system activation, half-life and biological activity, to create differentiated therapeutic candidates.

Xencor’s proprietary XmAb technology supports its internal research programs and collaborations with other biopharmaceutical companies.