Xencor (NASDAQ:XNCR) Coverage Initiated by Analysts at Truist Financial

Truist Financial began coverage on shares of Xencor (NASDAQ:XNCR) in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm issued a buy rating and a $29.00 target price on the biopharmaceutical company’s stock.

Several other equities analysts have also weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Xencor from $33.00 to $27.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th. Royal Bank Of Canada increased their price target on Xencor from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Bank of America cut Xencor from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $12.00 in a research note on Wednesday, September 3rd. JPMorgan Chase & Co. decreased their target price on Xencor from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Finally, Cantor Fitzgerald increased their target price on Xencor from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Xencor has a consensus rating of “Moderate Buy” and a consensus price target of $25.11.

Xencor Price Performance

NASDAQ XNCR opened at $16.74 on Monday. The firm has a market capitalization of $1.20 billion, a P/E ratio of -6.97 and a beta of 0.99. Xencor has a 1-year low of $6.92 and a 1-year high of $27.24. The business’s 50-day simple moving average is $13.21 and its 200-day simple moving average is $10.07.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.64. The firm had revenue of $21.00 million for the quarter, compared to analyst estimates 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 last year, the firm posted ($0.71) earnings per share. On average, equities research analysts expect that Xencor will post -3.68 EPS for the current fiscal year.

Institutional Trading of Xencor

Several large investors have recently modified their holdings of XNCR. CWM LLC lifted its stake in shares of Xencor by 195.5% in the first quarter. CWM LLC now owns 3,372 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 2,231 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Xencor during the 1st quarter worth approximately $528,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Xencor during the 1st quarter worth approximately $135,000. XTX Topco Ltd raised its position in shares of Xencor by 191.7% in the 1st quarter. XTX Topco Ltd now owns 54,209 shares of the biopharmaceutical company’s stock valued at $577,000 after purchasing an additional 35,627 shares in the last quarter. Finally, US Bancorp DE boosted its stake in shares of Xencor by 312.0% during the 1st quarter. US Bancorp DE now owns 10,432 shares of the biopharmaceutical company’s stock valued at $111,000 after buying an additional 7,900 shares during the last quarter.

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.