BTIG Research Cuts Xencor (NASDAQ:XNCR) Price Target to $38.00

Xencor (NASDAQ:XNCR) had its price objective reduced by BTIG Research from $56.00 to $38.00 in a research note released on Tuesday, Marketbeat.com reports. BTIG Research currently has a buy rating on the biopharmaceutical company’s stock.

XNCR has been the topic of a number of other research reports. BMO Capital Markets lowered their price objective on Xencor from $38.00 to $34.00 and set an outperform rating on the stock in a research note on Wednesday, February 28th. StockNews.com upgraded Xencor from a sell rating to a hold rating in a research note on Saturday, March 9th. Mizuho lowered their price objective on Xencor from $59.00 to $50.00 and set a buy rating on the stock in a research note on Monday, January 22nd. Piper Sandler restated a neutral rating and set a $24.00 price objective (down previously from $37.00) on shares of Xencor in a research note on Wednesday, February 28th. Finally, Wedbush lowered their price objective on Xencor from $36.00 to $34.00 and set an outperform rating on the stock in a research note on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Xencor has a consensus rating of Moderate Buy and an average target price of $36.00.

Xencor Stock Performance

NASDAQ:XNCR opened at $18.92 on Tuesday. The stock has a market cap of $1.16 billion, a P/E ratio of -9.01 and a beta of 0.76. The stock has a 50 day simple moving average of $22.24 and a 200 day simple moving average of $20.40. The company has a current ratio of 7.36, a quick ratio of 7.36 and a debt-to-equity ratio of 0.02. Xencor has a 1-year low of $16.49 and a 1-year high of $30.21.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.67). Xencor had a negative return on equity of 18.67% and a negative net margin of 74.90%. The company had revenue of $44.70 million for the quarter, compared to the consensus estimate of $77.63 million. During the same quarter last year, the business earned ($0.20) EPS. Xencor’s revenue was up 106.9% on a year-over-year basis. Research analysts anticipate that Xencor will post -3.25 earnings per share for the current year.

Insider Activity

In related news, VP John R. Desjarlais sold 54,108 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $19.38, for a total transaction of $1,048,613.04. Following the sale, the vice president now owns 161,675 shares in the company, valued at approximately $3,133,261.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP John R. Desjarlais sold 54,108 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $19.38, for a total transaction of $1,048,613.04. Following the sale, the vice president now owns 161,675 shares in the company, valued at approximately $3,133,261.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Bassil I. Dahiyat sold 12,528 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $23.43, for a total value of $293,531.04. Following the sale, the chief executive officer now owns 300,097 shares in the company, valued at approximately $7,031,272.71. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,351 shares of company stock worth $2,152,417. Insiders own 4.97% of the company’s stock.

Institutional Investors Weigh In On Xencor

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in Xencor by 0.5% during the 1st quarter. BlackRock Inc. now owns 9,385,217 shares of the biopharmaceutical company’s stock worth $250,396,000 after buying an additional 50,387 shares during the period. Primecap Management Co. CA lifted its holdings in Xencor by 8.8% during the 4th quarter. Primecap Management Co. CA now owns 8,901,607 shares of the biopharmaceutical company’s stock worth $188,981,000 after buying an additional 717,401 shares during the period. Vanguard Group Inc. lifted its holdings in Xencor by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 6,767,249 shares of the biopharmaceutical company’s stock worth $143,669,000 after buying an additional 115,886 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Xencor by 12.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,599,071 shares of the biopharmaceutical company’s stock valued at $180,617,000 after purchasing an additional 744,569 shares during the period. Finally, State Street Corp lifted its stake in shares of Xencor by 3.9% in the 1st quarter. State Street Corp now owns 3,280,168 shares of the biopharmaceutical company’s stock valued at $91,484,000 after purchasing an additional 124,117 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.