JPMorgan Chase & Co. Reiterates Neutral Rating for Xencor (NASDAQ:XNCR)

Xencor (NASDAQ:XNCR)‘s stock had its “neutral” rating reiterated by research analysts at JPMorgan Chase & Co. in a report issued on Tuesday, Marketbeat reports. They presently have a $13.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $18.00. JPMorgan Chase & Co.‘s target price points to a potential upside of 4.84% from the company’s previous close.

A number of other brokerages have also commented on XNCR. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xencor in a report on Monday, December 29th. Barclays increased their price objective on Xencor from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Truist Financial assumed coverage on Xencor in a report on Monday, November 24th. They set a “buy” rating and a $29.00 target price on the stock. Finally, Wall Street Zen lowered Xencor from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $24.38.

Xencor Stock Up 4.3%

Shares of NASDAQ XNCR opened at $12.40 on Tuesday. The company has a 50 day simple moving average of $12.11 and a 200 day simple moving average of $13.31. The firm has a market cap of $909.42 million, a PE ratio of -10.00 and a beta of 0.95. Xencor has a 1 year low of $6.92 and a 1 year high of $18.69. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.25 and a quick ratio of 6.25.

Xencor (NASDAQ:XNCR) last posted its earnings results on Wednesday, February 25th. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.55. Xencor had a negative net margin of 73.20% and a negative return on equity of 14.58%. The firm had revenue of $28.24 million for the quarter, compared to analyst estimates of $29.97 million. During the same period in the previous year, the firm posted ($0.62) EPS. The company’s revenue for the quarter was down 46.6% compared to the same quarter last year. On average, research analysts forecast that Xencor will post -3.68 EPS for the current year.

Insider Transactions at Xencor

In related news, CEO Bassil I. Dahiyat sold 14,870 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $11.25, for a total transaction of $167,287.50. Following the completion of the sale, the chief executive officer owned 552,922 shares of the company’s stock, valued at $6,220,372.50. This trade represents a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Celia Eckert sold 3,244 shares of Xencor stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $11.25, for a total value of $36,495.00. Following the completion of the sale, the senior vice president owned 78,685 shares of the company’s stock, valued at approximately $885,206.25. The trade was a 3.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 44,020 shares of company stock valued at $499,817. Corporate insiders own 4.76% of the company’s stock.

Hedge Funds Weigh In On Xencor

A number of institutional investors and hedge funds have recently modified their holdings of XNCR. Amalgamated Bank grew its position in shares of Xencor by 4.8% during the 3rd 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 period. ProShare Advisors LLC lifted its position in shares of Xencor by 6.5% during the 4th quarter. ProShare Advisors LLC now owns 16,853 shares of the biopharmaceutical company’s stock valued at $258,000 after acquiring an additional 1,026 shares during the period. Cerity Partners LLC boosted its stake in Xencor by 3.8% during the fourth quarter. Cerity Partners LLC now owns 31,302 shares of the biopharmaceutical company’s stock worth $479,000 after acquiring an additional 1,143 shares in the last quarter. HighVista Strategies LLC boosted its stake in Xencor by 4.3% during the second quarter. HighVista Strategies LLC now owns 33,304 shares of the biopharmaceutical company’s stock worth $262,000 after acquiring an additional 1,362 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Xencor by 77.1% in the third quarter. GAMMA Investing LLC now owns 3,328 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 1,449 shares during the period.

Xencor Company Profile

Xencor, Inc is a clinical-stage biopharmaceutical company focused on the design and development of engineered protein therapeutics for the treatment of autoimmune diseases, cancer and neurological disorders. The company applies its proprietary XmAb® platform to manipulate antibody structure and function, creating molecules with enhanced immune engagement and extended half-life. Xencor’s research programs span a range of therapeutic modalities, including monoclonal antibodies, bispecific antibodies and cytokine-based fusion proteins.

The XmAb® platform enables precise modification of the Fc region to augment key properties such as receptor binding, effector function and pharmacokinetics.