Wedbush Reiterates Outperform Rating for Xencor Inc. (XNCR)

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Xencor Inc. (NASDAQ:XNCR)‘s stock had its “outperform” rating reissued by equities research analysts at Wedbush in a report released on Monday. They presently have a $27.00 price target on the biopharmaceutical company’s stock. Wedbush’s price objective would suggest a potential upside of 31.32% from the stock’s current price.
Several other research analysts have also recently weighed in on XNCR. Leerink Swann reiterated an “outperform” rating and set a $18.00 price objective on shares of Xencor in a research report on Wednesday, June 29th. Canaccord Genuity restated a “buy” rating on shares of Xencor in a research report on Tuesday, June 28th. Finally, Zacks Investment Research upgraded Xencor from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Tuesday, July 5th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $22.33.
Shares of Xencor (NASDAQ:XNCR) traded up 3.40% during mid-day trading on Monday, reaching $21.26. The company’s stock had a trading volume of 47,278 shares. The company has a 50-day moving average of $20.89 and a 200-day moving average of $15.65. Xencor has a 12 month low of $9.89 and a 12 month high of $23.30. The firm has a market cap of $870.58 million, a PE ratio of 22.59 and a beta of 2.14.

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Xencor (NASDAQ:XNCR) last posted its quarterly earnings data on Tuesday, August 2nd. The biopharmaceutical company reported $1.13 earnings per share for the quarter, topping the consensus estimate of ($0.18) by $1.31. The firm had revenue of $66 million for the quarter, compared to analysts’ expectations of $7.43 million. Xencor had a return on equity of 22.53% and a net margin of 39.07%. On average, analysts predict that Xencor will post $0.72 earnings per share for the current year.
In related news, Director Bruce L. A. Carter sold 3,400 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $22.67, for a total value of $77,078.00. Following the sale, the director now directly owns 10,000 shares of the company’s stock, valued at $226,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder John S. Stafford III sold 96,828 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $21.73, for a total value of $2,104,072.44. The disclosure for this sale can be found here. 4.03% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio raised its stake in Xencor by 301.1% in the second quarter. Strs Ohio now owns 36,500 shares of the biopharmaceutical company’s stock valued at $693,000 after buying an additional 27,400 shares during the period. Acadian Asset Management LLC acquired a new stake in Xencor during the second quarter valued at $1,317,000. Deerfield Management Co. raised its stake in Xencor by 175.9% in the first quarter. Deerfield Management Co. now owns 3,467,512 shares of the biopharmaceutical company’s stock valued at $46,534,000 after buying an additional 2,210,900 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in Xencor by 5.1% in the first quarter. Metropolitan Life Insurance Co. NY now owns 21,213 shares of the biopharmaceutical company’s stock valued at $285,000 after buying an additional 1,026 shares during the period. Finally, A.R.T. Advisors LLC acquired a new stake in Xencor during the first quarter valued at $273,000. 67.72% of the stock is currently owned by institutional investors and hedge funds.
Xencor Company Profile
Xencor, Inc is a clinical-stage biopharmaceutical company. The Company is focused on discovering and developing engineered monoclonal antibodies to treat severe and life threatening diseases. Its segment is related to the development of pharmaceutical products. It uses its XmAb technology platform to create antibody product candidates designed to treat autoimmune and allergic diseases, cancer and other conditions.

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