JPMorgan Chase & Co. Cuts Xencor (NASDAQ:XNCR) Price Target to $18.00

Xencor (NASDAQ:XNCR) had its price objective trimmed by JPMorgan Chase & Co. from $20.00 to $18.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

XNCR has been the topic of several other reports. Bank of America lowered shares of Xencor from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $12.00 in a report on Wednesday, September 3rd. Barclays raised Xencor from an “underweight” rating to an “overweight” rating and boosted their target price for the company from $6.00 to $23.00 in a research report on Wednesday, October 29th. Royal Bank Of Canada raised their price target on Xencor from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday. Wells Fargo & Company dropped their price objective on Xencor from $33.00 to $27.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Finally, Cantor Fitzgerald boosted their price objective on Xencor from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Thursday. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.63.

Xencor Trading Down 0.7%

Shares of NASDAQ:XNCR opened at $13.90 on Thursday. The company has a market capitalization of $991.39 million, a price-to-earnings ratio of -5.79 and a beta of 0.99. Xencor has a 12-month low of $6.92 and a 12-month high of $27.24. The business has a 50-day moving average price of $11.71 and a 200 day moving average price of $9.69.

Xencor (NASDAQ:XNCR) last posted its earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.64. The company had revenue of $21.00 million for the quarter, compared to analysts’ expectations of $29.73 million. Xencor had a negative net margin of 121.52% and a negative return on equity of 25.75%. Xencor’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.71) earnings per share. As a group, equities research analysts predict that Xencor will post -3.68 earnings per share for the current fiscal year.

Institutional Trading of Xencor

Large investors have recently made changes to their positions in the company. New York State Teachers Retirement System lifted its stake in Xencor by 2.1% in the first quarter. New York State Teachers Retirement System now owns 59,326 shares of the biopharmaceutical company’s stock worth $631,000 after acquiring an additional 1,200 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Xencor by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 348,726 shares of the biopharmaceutical company’s stock valued at $3,710,000 after purchasing an additional 8,581 shares during the last quarter. CWM LLC raised its holdings in shares of Xencor by 195.5% in the 1st quarter. CWM LLC now owns 3,372 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 2,231 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Xencor in the 1st quarter valued at $528,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Xencor during the 1st quarter worth $135,000.

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.