Xencor (NASDAQ:XNCR) Releases Quarterly Earnings Results, Misses Expectations By $0.25 EPS

Xencor (NASDAQ:XNCR) issued its earnings results on Monday. The biopharmaceutical company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.25), Briefing.com reports. Xencor had a negative net margin of 82.23% and a negative return on equity of 20.29%. The company had revenue of $16.96 million during the quarter, compared to analyst estimates of $21.13 million. During the same quarter in the previous year, the company posted ($0.37) EPS. The company’s quarterly revenue was down 62.7% on a year-over-year basis.

Xencor Price Performance

Shares of Xencor stock traded down $0.10 on Wednesday, hitting $17.75. The company’s stock had a trading volume of 19,723 shares, compared to its average volume of 633,911. Xencor has a 52-week low of $16.49 and a 52-week high of $26.84. The company has a quick ratio of 7.08, a current ratio of 7.08 and a debt-to-equity ratio of 0.02. The firm has a fifty day moving average price of $20.25 and a 200-day moving average price of $21.24. The company has a market capitalization of $1.09 billion, a P/E ratio of -8.15 and a beta of 0.69.

Analyst Ratings Changes

Several equities research analysts have recently commented on XNCR shares. BMO Capital Markets restated an “outperform” rating and set a $32.00 price target on shares of Xencor in a research note on Tuesday. Raymond James cut their price objective on shares of Xencor from $58.00 to $40.00 and set a “strong-buy” rating for the company in a research report on Friday, June 14th. BTIG Research lowered their target price on shares of Xencor from $56.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 price target on shares of Xencor in a report on Tuesday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $34.00 price objective (down previously from $36.00) on shares of Xencor in a report on Thursday, June 13th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $34.44.

Insider Buying and Selling at Xencor

In other Xencor news, VP John R. Desjarlais sold 36,329 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $18.32, for a total value of $665,547.28. Following the transaction, the vice president now directly owns 192,319 shares in the company, valued at approximately $3,523,284.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.23% of the stock is owned by insiders.

About Xencor

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.