Xencor (NASDAQ:XNCR) Coverage Initiated at Truist Financial

Research analysts at Truist Financial began coverage on shares of Xencor (NASDAQ:XNCR) in a report released on Monday, MarketBeat reports. The firm set a “buy” rating and a $29.00 price target on the biopharmaceutical company’s stock. Truist Financial’s target price indicates a potential upside of 68.02% from the company’s previous close.

Several other equities research analysts also recently weighed in on XNCR. Cantor Fitzgerald upped their price objective on shares of Xencor from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Royal Bank Of Canada boosted their price target on shares of Xencor from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Wells Fargo & Company reduced their price target on shares of Xencor from $33.00 to $27.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Wedbush reiterated an “outperform” rating and issued a $26.00 price objective on shares of Xencor in a report on Thursday, November 6th. Finally, Bank of America cut Xencor from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $23.00 to $12.00 in a report on Wednesday, September 3rd. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.11.

Xencor Price Performance

XNCR opened at $17.26 on Monday. Xencor has a 12 month low of $6.92 and a 12 month high of $27.24. The stock has a market cap of $1.23 billion, a P/E ratio of -7.19 and a beta of 0.99. The stock’s 50 day moving average price is $13.38 and its 200 day moving average price is $10.13.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.64. Xencor had a negative return on equity of 25.75% and a negative net margin of 121.52%.The company had revenue of $21.00 million during the quarter, compared to analyst estimates of $29.73 million. During the same quarter in the previous year, the firm posted ($0.71) EPS. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. Equities analysts anticipate that Xencor will post -3.68 EPS for the current year.

Institutional Trading of Xencor

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank grew its position in Xencor by 4.8% in the third quarter. Amalgamated Bank now owns 20,846 shares of the biopharmaceutical company’s stock worth $245,000 after buying an additional 947 shares during the last quarter. HighVista Strategies LLC lifted its position in shares of Xencor by 4.3% during the 2nd quarter. HighVista Strategies LLC now owns 33,304 shares of the biopharmaceutical company’s stock valued at $262,000 after acquiring an additional 1,362 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Xencor by 77.1% during the 3rd quarter. GAMMA Investing LLC now owns 3,328 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 1,449 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Xencor by 9.1% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,272 shares of the biopharmaceutical company’s stock worth $144,000 after acquiring an additional 1,525 shares during the last quarter. Finally, State of Tennessee Department of Treasury grew its holdings in shares of Xencor by 6.2% in the 2nd quarter. State of Tennessee Department of Treasury now owns 30,721 shares of the biopharmaceutical company’s stock worth $241,000 after acquiring an additional 1,784 shares during the last quarter.

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.