Truist Financial Lowers Xencor (NASDAQ:XNCR) Price Target to $27.00

Xencor (NASDAQ:XNCR) had its price target decreased by equities research analysts at Truist Financial from $29.00 to $27.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Truist Financial’s target price points to a potential upside of 81.33% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Xencor from a “hold” rating to a “strong sell” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. increased their target price on Xencor from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Zacks Research lowered Xencor from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Xencor in a report on Wednesday, June 24th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $24.25.

Xencor Trading Down 0.7%

XNCR stock opened at $14.89 on Tuesday. The company’s 50 day moving average is $12.64 and its 200 day moving average is $12.76. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -6.50 and a beta of 0.86. Xencor has a 1-year low of $6.92 and a 1-year high of $18.69.

Xencor (NASDAQ:XNCR) last announced its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($1.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.96). Xencor had a negative net margin of 177.10% and a negative return on equity of 28.77%. The company had revenue of $4.52 million during the quarter, compared to analysts’ expectations of $27.86 million. During the same period in the prior year, the business earned ($0.66) earnings per share. The company’s revenue for the quarter was down 86.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Xencor will post -3.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Xencor

Large investors have recently made changes to their positions in the business. ADAR1 Capital Management LLC increased its stake in shares of Xencor by 66.8% during the first quarter. ADAR1 Capital Management LLC now owns 93,665 shares of the biopharmaceutical company’s stock valued at $1,130,000 after buying an additional 37,500 shares during the period. Quantinno Capital Management LP boosted its holdings in Xencor by 21.1% in the first quarter. Quantinno Capital Management LP now owns 57,077 shares of the biopharmaceutical company’s stock valued at $688,000 after acquiring an additional 9,943 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Xencor by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,294,887 shares of the biopharmaceutical company’s stock valued at $15,613,000 after acquiring an additional 45,599 shares in the last quarter. Principal Financial Group Inc. increased its position in Xencor by 2.0% during the 1st quarter. Principal Financial Group Inc. now owns 347,078 shares of the biopharmaceutical company’s stock valued at $4,186,000 after purchasing an additional 6,752 shares during the period. Finally, Fifth Third Bancorp raised its holdings in Xencor by 3,690.2% in the 1st quarter. Fifth Third Bancorp now owns 17,018 shares of the biopharmaceutical company’s stock worth $205,000 after purchasing an additional 16,569 shares in the last quarter.

About Xencor

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.