Xencor (NASDAQ:XNCR) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Xencor (NASDAQ:XNCR) in a research report report published on Thursday, Marketbeat.com reports. The firm issued an overweight rating and a $37.00 price target on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued research reports about the company. Royal Bank of Canada boosted their target price on Xencor from $31.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Wedbush reiterated an “outperform” rating and set a $38.00 price target on shares of Xencor in a research report on Thursday, November 7th. BMO Capital Markets restated an “outperform” rating and issued a $34.00 price objective (up from $32.00) on shares of Xencor in a report on Friday, November 8th. Piper Sandler raised Xencor from a “neutral” rating to an “overweight” rating and increased their price target for the company from $20.00 to $30.00 in a research note on Monday, December 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on Xencor from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Xencor currently has an average rating of “Buy” and an average target price of $36.56.

Xencor Trading Down 2.9 %

XNCR stock opened at $24.03 on Thursday. The business has a fifty day moving average price of $23.03 and a 200 day moving average price of $20.66. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.23 and a quick ratio of 6.23. Xencor has a fifty-two week low of $15.31 and a fifty-two week high of $27.24. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of -7.51 and a beta of 0.69.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) EPS for the quarter, topping 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 firm had revenue of $10.70 million for the quarter, compared to analyst estimates of $14.59 million. During the same quarter in the prior year, the firm earned ($0.40) EPS. The company’s revenue was down 81.9% on a year-over-year basis. Analysts expect that Xencor will post -3.71 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP John R. Desjarlais sold 68,684 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $23.48, for a total transaction of $1,612,700.32. Following the transaction, the vice president now directly owns 200,104 shares in the company, valued at approximately $4,698,441.92. The trade was a 25.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Bassil I. Dahiyat sold 3,366 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $24.02, for a total transaction of $80,851.32. Following the transaction, the chief executive officer now owns 352,615 shares in the company, valued at $8,469,812.30. This represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 136,050 shares of company stock worth $3,277,609. 5.23% of the stock is owned by insiders.

Hedge Funds Weigh In On Xencor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XNCR. Primecap Management Co. CA lifted its position in Xencor by 0.3% during the second quarter. Primecap Management Co. CA now owns 9,116,202 shares of the biopharmaceutical company’s stock worth $172,570,000 after acquiring an additional 25,495 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in Xencor by 147.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 3,120,229 shares of the biopharmaceutical company’s stock valued at $62,748,000 after purchasing an additional 1,858,440 shares during the period. Logos Global Management LP increased its position in Xencor by 130.8% during the 2nd quarter. Logos Global Management LP now owns 1,500,000 shares of the biopharmaceutical company’s stock worth $28,395,000 after buying an additional 850,000 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Xencor by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,459,427 shares of the biopharmaceutical company’s stock worth $27,628,000 after buying an additional 87,979 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Xencor by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,455,350 shares of the biopharmaceutical company’s stock valued at $29,273,000 after acquiring an additional 17,658 shares during the period.

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.