JPMorgan Chase & Co. Boosts Xencor (NASDAQ:XNCR) Price Target to $28.00

Xencor (NASDAQ:XNCR) had its price target boosted by JPMorgan Chase & Co. from $27.00 to $28.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

Other analysts have also issued research reports about the company. Royal Bank of Canada upped their price objective on Xencor from $31.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. BMO Capital Markets reiterated an “outperform” rating and issued a $32.00 price target on shares of Xencor in a research note on Tuesday, August 6th. Finally, Wedbush reissued an “outperform” rating and issued a $38.00 price objective on shares of Xencor in a research report on Thursday. 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $35.56.

Xencor Trading Up 2.4 %

XNCR stock traded up $0.55 during mid-day trading on Thursday, hitting $23.73. 109,778 shares of the company were exchanged, compared to its average volume of 594,756. Xencor has a 12-month low of $15.31 and a 12-month high of $26.84. The firm has a market capitalization of $1.66 billion, a P/E ratio of -7.38 and a beta of 0.66. The business has a fifty day simple moving average of $20.33 and a 200-day simple moving average of $20.23. The company has a quick ratio of 6.92, a current ratio of 6.92 and a debt-to-equity ratio of 0.02.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.98) by $0.27. The firm had revenue of $10.70 million for the quarter, compared to the consensus estimate of $14.59 million. Xencor had a negative return on equity of 32.25% and a negative net margin of 232.77%. The company’s quarterly revenue was down 81.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.40) EPS. On average, equities research analysts predict that Xencor will post -4.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Xencor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XNCR. Jacobs Levy Equity Management Inc. purchased a new position in shares of Xencor in the 1st quarter valued at about $4,608,000. Price T Rowe Associates Inc. MD raised its stake in shares of Xencor by 9.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,819,656 shares of the biopharmaceutical company’s stock worth $84,530,000 after buying an additional 335,881 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of Xencor in the first quarter valued at approximately $573,000. Russell Investments Group Ltd. grew its holdings in Xencor by 43.1% during the 1st quarter. Russell Investments Group Ltd. now owns 224,140 shares of the biopharmaceutical company’s stock valued at $4,960,000 after buying an additional 67,522 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its stake in Xencor by 9.4% in the 2nd quarter. Panagora Asset Management Inc. now owns 232,375 shares of the biopharmaceutical company’s stock valued at $4,399,000 after purchasing an additional 20,043 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.