Xencor (NASDAQ:XNCR) Earns Outperform Rating from Wedbush

Xencor (NASDAQ:XNCR)‘s stock had its “outperform” rating restated by equities researchers at Wedbush in a research note issued to investors on Wednesday,RTT News reports. They presently have a $31.00 target price on the biopharmaceutical company’s stock. Wedbush’s target price would suggest a potential upside of 185.45% from the stock’s current price.

Several other equities research analysts have also issued reports on the company. Wells Fargo & Company reduced their price target on Xencor from $37.00 to $33.00 and set an “overweight” rating for the company in a report on Friday, February 28th. StockNews.com lowered shares of Xencor from a “hold” rating to a “sell” rating in a research note on Friday, March 14th. Finally, William Blair initiated coverage on shares of Xencor in a research note on Monday, April 21st. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.86.

Xencor Price Performance

Shares of NASDAQ:XNCR opened at $10.86 on Wednesday. The company has a market capitalization of $772.71 million, a PE ratio of -3.39 and a beta of 0.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.23 and a current ratio of 6.23. The stock has a fifty day moving average of $11.37 and a 200-day moving average of $18.16. Xencor has a one year low of $7.16 and a one year high of $27.24.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.62) EPS for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.19. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The firm had revenue of $52.79 million during the quarter, compared to analyst estimates of $17.14 million. As a group, equities analysts anticipate that Xencor will post -3.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Xencor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. RTW Investments LP increased its holdings in shares of Xencor by 317.9% in the fourth quarter. RTW Investments LP now owns 2,402,883 shares of the biopharmaceutical company’s stock valued at $55,218,000 after purchasing an additional 1,827,883 shares in the last quarter. BVF Inc. IL lifted its holdings in Xencor by 169.3% during the 4th quarter. BVF Inc. IL now owns 2,288,760 shares of the biopharmaceutical company’s stock worth $52,596,000 after buying an additional 1,438,760 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Xencor by 452.4% in the 4th quarter. Nuveen Asset Management LLC now owns 837,082 shares of the biopharmaceutical company’s stock valued at $19,236,000 after buying an additional 685,557 shares during the last quarter. Finepoint Capital LP acquired a new stake in shares of Xencor in the 4th quarter valued at $15,167,000. Finally, Vanguard Group Inc. raised its position in shares of Xencor by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 8,017,366 shares of the biopharmaceutical company’s stock worth $184,239,000 after acquiring an additional 418,040 shares during the last quarter.

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.