Piper Jaffray Cos. Begins Coverage on Xencor Inc. (XNCR)
Equities researchers at Piper Jaffray Cos. initiated coverage on shares of Xencor Inc. (NASDAQ:XNCR) in a research note issued to investors on Tuesday. The brokerage set an “overweight” rating and a $35.00 price target on the biopharmaceutical company’s stock. Piper Jaffray Cos.’s price objective would indicate a potential upside of 51.68% from the company’s current price.
Other analysts have also recently issued reports about the company. Zacks Investment Research raised Xencor from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Tuesday, July 5th. Canaccord Genuity reissued a “buy” rating on shares of Xencor in a report on Tuesday, June 28th. Wedbush reaffirmed an “outperform” rating and set a $27.00 price objective on shares of Xencor in a report on Monday, September 12th. Finally, Leerink Swann reaffirmed an “outperform” rating and set a $18.00 price objective on shares of Xencor in a report on Wednesday, June 29th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $25.14.
Shares of Xencor (NASDAQ:XNCR) traded down 0.838% during mid-day trading on Tuesday, reaching $23.075. The company’s stock had a trading volume of 380,176 shares. The company’s 50-day moving average is $22.96 and its 200 day moving average is $17.42. Xencor has a 1-year low of $9.89 and a 1-year high of $26.50. The firm has a market capitalization of $944.90 million, a P/E ratio of 24.522 and a beta of 2.11.
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Xencor (NASDAQ:XNCR) last posted its quarterly earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $1.13 EPS for the quarter, beating the consensus estimate of ($0.18) by $1.31. The business earned $66 million during 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 expect that Xencor will post $0.56 earnings per share for the current year.
In other news, major shareholder John S. Stafford III sold 96,828 shares of the business’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $21.73, for a total value of $2,104,072.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Edgardo Baracchini, Jr. sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $25.35, for a total value of $253,500.00. Following the completion of the transaction, the insider now directly owns 10,000 shares of the company’s stock, valued at $253,500. The disclosure for this sale can be found here. 4.03% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. boosted its position in Xencor by 24.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 49,428 shares of the biopharmaceutical company’s stock worth $939,000 after buying an additional 9,700 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in shares of Xencor by 14.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 24,320 shares of the biopharmaceutical company’s stock worth $462,000 after buying an additional 3,107 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Xencor by 60.4% in the second quarter. AQR Capital Management LLC now owns 43,533 shares of the biopharmaceutical company’s stock worth $827,000 after buying an additional 16,399 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Xencor during the second quarter worth approximately $1,899,000. Finally, Spark Investment Management LLC increased its stake in shares of Xencor by 48.1% in the second quarter. Spark Investment Management LLC now owns 174,700 shares of the biopharmaceutical company’s stock worth $3,317,000 after buying an additional 56,700 shares in the last quarter. 67.44% of the stock is owned by institutional investors.
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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