Xencor (NASDAQ:XNCR) Given New $28.00 Price Target at JPMorgan Chase & Co.

Xencor (NASDAQ:XNCR) had its target price boosted by JPMorgan Chase & Co. from $27.00 to $28.00 in a research note issued to investors on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biopharmaceutical company’s stock.

XNCR has been the topic of a number of other reports. Wedbush restated an “outperform” rating and issued a $38.00 price objective on shares of Xencor in a research note on Thursday. BMO Capital Markets restated an “outperform” rating and issued a $32.00 price objective on shares of Xencor in a research note on Tuesday, August 6th. Finally, Royal Bank of Canada lifted their price objective on shares of Xencor from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Xencor presently has a consensus rating of “Moderate Buy” and an average price target of $35.75.

Xencor Trading Up 1.9 %

NASDAQ XNCR opened at $23.62 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.23 and a quick ratio of 6.92. The firm’s fifty day moving average price is $20.45 and its 200 day moving average price is $20.29. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of -7.38 and a beta of 0.66. Xencor has a 12 month low of $15.31 and a 12 month high of $26.84.

Xencor (NASDAQ:XNCR) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) EPS for the quarter, beating analysts’ consensus estimates of ($0.98) by $0.27. The firm had revenue of $10.70 million for the quarter, compared to the consensus estimate of $14.59 million. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The company’s revenue was down 81.9% on a year-over-year basis. During the same period last year, the firm posted ($0.40) EPS. On average, sell-side analysts expect that Xencor will post -3.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP acquired a new position in shares of Xencor during the second quarter worth about $36,000. KBC Group NV increased its stake in shares of Xencor by 63.5% during the third quarter. KBC Group NV now owns 3,123 shares of the biopharmaceutical company’s stock worth $63,000 after acquiring an additional 1,213 shares during the period. SG Americas Securities LLC acquired a new position in shares of Xencor during the second quarter worth about $154,000. XTX Topco Ltd acquired a new position in shares of Xencor during the second quarter worth about $196,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Xencor during the first quarter worth about $206,000.

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.