Canaccord Genuity Reaffirms “Buy” Rating for Xencor, Inc. (XNCR)
Xencor, Inc. (NASDAQ:XNCR)‘s stock had its “buy” rating reaffirmed by equities researchers at Canaccord Genuity in a note issued to investors on Tuesday. They currently have a $36.00 target price on the biopharmaceutical company’s stock. Canaccord Genuity’s price target indicates a potential upside of 54.57% from the company’s current price.
A number of other research firms also recently commented on XNCR. Wedbush restated an “outperform” rating and set a $29.00 price target on shares of Xencor in a research report on Wednesday, May 10th. Zacks Investment Research downgraded shares of Xencor from a “buy” rating to a “hold” rating in a research report on Saturday, April 29th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $29.33.
Shares of Xencor (XNCR) traded up 4.82% on Tuesday, reaching $23.29. 320,085 shares of the company’s stock traded hands. The company has a 50 day moving average price of $22.46 and a 200 day moving average price of $23.07. Xencor has a 52 week low of $18.45 and a 52 week high of $29.38. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 65.98 and a beta of 2.14.
Xencor (NASDAQ:XNCR) last released its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.10. Xencor had a net margin of 18.19% and a return on equity of 5.98%. The company had revenue of $13.34 million for the quarter, compared to the consensus estimate of $8.15 million. On average, equities research analysts predict that Xencor will post ($1.22) earnings per share for the current fiscal year.
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In other news, Director Bruce L. A. Carter sold 2,366 shares of Xencor stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $22.00, for a total value of $52,052.00. Following the transaction, the director now owns 68,578 shares of the company’s stock, valued at approximately $1,508,716. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce L. A. Carter sold 20,000 shares of Xencor stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $20.61, for a total transaction of $412,200.00. Following the completion of the transaction, the director now directly owns 48,880 shares in the company, valued at approximately $1,007,416.80. The disclosure for this sale can be found here. Insiders sold a total of 34,766 shares of company stock worth $739,408 in the last ninety days. Corporate insiders own 4.14% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of Xencor by 254.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 182,256 shares of the biopharmaceutical company’s stock valued at $4,797,000 after buying an additional 130,778 shares in the last quarter. Norges Bank acquired a new position in shares of Xencor during the fourth quarter valued at about $15,601,000. Teachers Advisors LLC boosted its position in shares of Xencor by 2.0% in the fourth quarter. Teachers Advisors LLC now owns 319,914 shares of the biopharmaceutical company’s stock valued at $8,420,000 after buying an additional 6,392 shares in the last quarter. Creative Planning boosted its position in shares of Xencor by 2.7% in the first quarter. Creative Planning now owns 38,400 shares of the biopharmaceutical company’s stock valued at $919,000 after buying an additional 1,000 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its position in shares of Xencor by 80.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 135,000 shares of the biopharmaceutical company’s stock valued at $3,229,000 after buying an additional 60,000 shares in the last quarter. 74.12% of the stock is currently 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. It has developed two clinical-stage product candidates, using its Immune Inhibitor Fc platform: XmAb5871, which is in two Phase II trials and is being developed for autoimmune disease, and XmAb7195, which is in a Phase I trial and is being developed for asthma and allergic diseases.
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