Xencor (NASDAQ:XNCR) Sets New 12-Month High – Time to Buy?

Xencor, Inc. (NASDAQ:XNCR)’s share price hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $33.86 and last traded at $33.90, with a volume of 825,662 shares. The stock had previously closed at $30.64.

Wall Street Analyst Weigh In

A number of research firms have recently commented on XNCR. Cantor Fitzgerald increased their price target on shares of Xencor from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Wells Fargo & Company boosted their price objective on shares of Xencor from $30.00 to $44.00 and gave the stock an “overweight” rating in a report on Tuesday, October 27th. Wall Street Zen upgraded shares of Xencor from a “strong sell” rating to a “hold” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. upped their price objective on Xencor from $14.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, September 3rd. Finally, Truist Financial increased their target price on Xencor from $29.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, October 27th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Xencor currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.33.

Xencor Stock Performance

The firm has a market cap of $2.60 billion, a PE ratio of -16.01 and a beta of 0.78. The stock has a 50-day simple moving average of $25.81 and a two-hundred day simple moving average of $17.13.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Johnson & Johnson bought a new stake in Xencor in the 2nd quarter worth approximately $12,043,798. Hsbc Holdings PLC boosted its stake in shares of Xencor by 114.2% in the 2nd quarter. Hsbc Holdings PLC now owns 125,482 shares of the biopharmaceutical company’s stock worth $2,083,000 after buying an additional 66,903 shares during the last quarter. Man Group plc purchased a new position in shares of Xencor in the 2nd quarter worth $940,000. Primecap Management Co. CA bought a new stake in shares of Xencor in the second quarter worth $163,919,000. Finally, Seven Fleet Capital Management LP bought a new stake in shares of Xencor in the second quarter worth $7,828,524,000.

About Xencor

Xencor, Inc is a clinical-stage biopharmaceutical company headquartered in Monrovia, California. Founded in 1997, the company develops engineered antibodies and other biologic medicines for the treatment of cancer, autoimmune disorders and other serious diseases.

Xencor’s research is centered on its XmAb technology platform, which is designed to modify antibodies to improve their therapeutic properties or create new antibody-based mechanisms. The platform supports the development of bispecific antibodies, immune-cell engagers and antibodies with extended activity in the body.