Xencor (NASDAQ:XNCR) Price Target Cut to $42.00

Xencor (NASDAQ:XNCR – Get Rating) had its price target reduced by analysts at Piper Sandler from $66.00 to $42.00 in a research report issued on Monday, The Fly reports. Piper Sandler’s price target indicates a potential upside of 78.34% from the company’s current price.

A number of other equities research analysts also recently commented on the stock. HC Wainwright lowered their price target on shares of Xencor from $61.00 to $55.00 and set a “buy” rating for the company in a report on Thursday, February 24th. BMO Capital Markets started coverage on shares of Xencor in a report on Friday, February 11th. They issued an “outperform” rating and a $54.00 price target on the stock. Zacks Investment Research downgraded Xencor from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 12th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Xencor in a report on Friday, April 1st. Finally, TheStreet upgraded Xencor from a “d+” rating to a “c” rating in a report on Wednesday, February 23rd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $49.14.

Shares of XNCR stock opened at $23.55 on Monday. Xencor has a one year low of $21.98 and a one year high of $43.61. The firm’s 50 day moving average price is $26.54 and its 200-day moving average price is $32.20. The firm has a market cap of $1.40 billion, a P/E ratio of 13.23 and a beta of 0.80.

Xencor (NASDAQ:XNCR – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported $0.39 EPS for the quarter, topping the consensus estimate of ($0.70) by $1.09. Xencor had a net margin of 33.28% and a return on equity of 15.74%. The firm had revenue of $85.50 million for the quarter, compared to analyst estimates of $26.17 million. During the same period last year, the business earned ($0.04) EPS. Xencor’s revenue for the quarter was up 152.2% compared to the same quarter last year. Analysts forecast that Xencor will post -1.62 EPS for the current fiscal year.

In other Xencor news, CEO Bassil I. Dahiyat sold 2,929 shares of the company’s stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of $29.90, for a total transaction of $87,577.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO John J. Kuch sold 971 shares of the company’s stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $29.86, for a total transaction of $28,994.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,524 shares of company stock valued at $279,886. 3.68% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of XNCR. Everence Capital Management Inc. acquired a new stake in Xencor in the 4th quarter valued at approximately $282,000. Invesco Ltd. boosted its stake in Xencor by 7.5% during the 3rd quarter. Invesco Ltd. now owns 576,072 shares of the biopharmaceutical company’s stock valued at $18,814,000 after purchasing an additional 40,355 shares during the last quarter. Martingale Asset Management L P grew its stake in Xencor by 56.8% in the 3rd quarter. Martingale Asset Management L P now owns 25,112 shares of the biopharmaceutical company’s stock valued at $821,000 after purchasing an additional 9,096 shares during the period. Rafferty Asset Management LLC boosted its holdings in Xencor by 43.0% in the 4th quarter. Rafferty Asset Management LLC now owns 64,794 shares of the biopharmaceutical company’s stock worth $2,600,000 after buying an additional 19,476 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Xencor by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,023,994 shares of the biopharmaceutical company’s stock worth $33,443,000 after buying an additional 24,537 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Xencor Company Profile (Get Rating)

Xencor, Inc is biopharmaceutical company, which engages in the development of engineered monoclonal antibody therapeutics to treat severe and life-threatening diseases. Its proprietary technology platform, XmAb, is used to create next-generation antibody product candidates designed to treat autoimmune and allergic diseases, cancer, and other conditions.

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