Xencor’s (XNCR) “Outperform” Rating Reiterated at BMO Capital Markets

BMO Capital Markets reiterated their outperform rating on shares of Xencor (NASDAQ:XNCR) in a research note released on Friday,Benzinga reports. BMO Capital Markets currently has a $34.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $32.00.

A number of other research firms have also weighed in on XNCR. Royal Bank of Canada raised 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. JPMorgan Chase & Co. raised their price objective on shares of Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Wedbush restated an “outperform” rating and set a $38.00 price objective on shares of Xencor in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Xencor has an average rating of “Moderate Buy” and an average target price of $35.75.

Xencor Trading Up 1.9 %

Shares of NASDAQ XNCR opened at $23.62 on Friday. Xencor has a 1 year low of $15.31 and a 1 year high of $26.84. The stock has a market cap of $1.65 billion, a P/E ratio of -7.38 and a beta of 0.66. The firm has a 50-day moving average of $20.45 and a 200 day moving average of $20.29. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.23 and a quick ratio of 6.92.

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

Hedge Funds Weigh In On Xencor

Hedge funds have recently modified their holdings of the company. Quarry LP bought a new stake in shares of Xencor during the 2nd quarter valued at $36,000. KBC Group NV lifted its holdings in shares of Xencor by 63.5% in the third quarter. KBC Group NV now owns 3,123 shares of the biopharmaceutical company’s stock worth $63,000 after buying an additional 1,213 shares in the last quarter. SG Americas Securities LLC bought a new stake in Xencor in the 2nd quarter valued at $154,000. Acadian Asset Management LLC bought a new position in shares of Xencor during the 1st quarter valued at about $206,000. Finally, XTX Topco Ltd bought a new stake in shares of Xencor in the second quarter worth about $196,000.

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.