Zacks Investment Research Lowers Xencor, Inc. (XNCR) to Sell
Xencor, Inc. (NASDAQ:XNCR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.
According to Zacks, “Xencor Inc. is a clinical-stage biopharmaceutical company. It develops antibodies for the treatment of autoimmune diseases, asthma and allergic diseases, and cancer. Xencor Inc. is based in Monrovia, California. “
A number of other brokerages have also weighed in on XNCR. TheStreet upgraded Xencor from a “sell” rating to a “hold” rating in a research note on Friday, December 2nd. Canaccord Genuity set a $32.00 target price on Xencor and gave the stock a “buy” rating in a research note on Monday, November 28th. Piper Jaffray Companies initiated coverage on Xencor in a research note on Tuesday, October 4th. They issued an “overweight” rating and a $35.00 target price on the stock. Finally, Leerink Swann restated a “buy” rating and issued a $26.00 target price on shares of Xencor in a research note on Thursday, November 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $28.33.
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Xencor (NASDAQ:XNCR) traded down 3.10% during midday trading on Wednesday, reaching $25.28. The company had a trading volume of 135,941 shares. Xencor has a 12-month low of $9.89 and a 12-month high of $29.38. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 25.90 and a beta of 2.27. The stock’s 50 day moving average is $26.25 and its 200 day moving average is $22.25.
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In other news, major shareholder John S. Stafford III sold 63,061 shares of the stock in a transaction dated Tuesday, December 6th. The stock was sold at an average price of $27.71, for a total transaction of $1,747,420.31. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 4.03% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Acrospire Investment Management LLC boosted its stake in shares of Xencor by 8.5% in the second quarter. Acrospire Investment Management LLC now owns 6,347 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 495 shares in the last quarter. DIAM Co. Ltd. bought a new stake in shares of Xencor during the third quarter valued at $154,000. UBS Asset Management Americas Inc. boosted its stake in shares of Xencor by 5.0% in the first quarter. UBS Asset Management Americas Inc. now owns 14,800 shares of the biopharmaceutical company’s stock valued at $199,000 after buying an additional 700 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Xencor by 363.5% in the second quarter. BlackRock Inc. now owns 11,350 shares of the biopharmaceutical company’s stock valued at $215,000 after buying an additional 8,901 shares in the last quarter. Finally, Capital Fund Management S.A. bought a new stake in shares of Xencor during the third quarter valued at $220,000. Institutional investors own 63.61% of the company’s stock.
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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