Xencor (NASDAQ:XNCR) Releases Quarterly Earnings Results, Beats Estimates By $0.27 EPS

Xencor (NASDAQ:XNCR) posted its quarterly earnings results on Wednesday. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.98) by $0.27, Briefing.com reports. Xencor had a negative return on equity of 32.25% and a negative net margin of 232.77%. The firm had revenue of $10.70 million during the quarter, compared to analyst estimates of $14.59 million. During the same quarter in the previous year, the firm earned ($0.40) EPS. Xencor’s quarterly revenue was down 81.9% compared to the same quarter last year.

Xencor Stock Up 1.9 %

XNCR opened at $23.62 on Friday. Xencor has a 1-year low of $15.31 and a 1-year high of $26.84. The firm’s 50 day simple moving average is $20.45 and its two-hundred day simple moving average is $20.27. The company has a current ratio of 6.92, a quick ratio of 6.92 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.65 billion, a PE ratio of -7.38 and a beta of 0.66.

Analyst Ratings Changes

Several brokerages have issued reports on XNCR. BMO Capital Markets reaffirmed an “outperform” rating and issued a $34.00 target price (up from $32.00) on shares of Xencor in a report on Friday. Wedbush reissued an “outperform” rating and set a $38.00 price target on shares of Xencor in a research report on Thursday. JPMorgan Chase & Co. upped their price objective on Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Royal Bank of Canada increased their target price on Xencor from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $35.75.

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.