Xencor (NASDAQ:XNCR) Given “Outperform” Rating at BMO Capital Markets

BMO Capital Markets reissued their outperform rating on shares of Xencor (NASDAQ:XNCR) in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a $32.00 price target on the biopharmaceutical company’s stock.

Other research analysts have also issued research reports about the stock. BTIG Research decreased their price target on shares of Xencor from $56.00 to $38.00 and set a buy rating on the stock in a research note on Tuesday, April 16th. Raymond James decreased their target price on shares of Xencor from $58.00 to $40.00 and set a strong-buy rating on the stock in a research report on Friday, June 14th. Wedbush restated an outperform rating and set a $34.00 target price (down previously from $36.00) on shares of Xencor in a research report on Thursday, June 13th. JPMorgan Chase & Co. decreased their target price on shares of Xencor from $30.00 to $27.00 and set an overweight rating on the stock in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada decreased their target price on shares of Xencor from $32.00 to $31.00 and set an outperform rating on the stock in a research report on Friday, June 14th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $34.44.

Xencor Stock Up 2.3 %

Shares of XNCR stock opened at $16.06 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.08 and a current ratio of 6.92. The firm’s 50-day moving average is $20.10 and its 200-day moving average is $21.20. The stock has a market cap of $990.26 million, a price-to-earnings ratio of -7.33 and a beta of 0.69. Xencor has a 52-week low of $15.31 and a 52-week high of $26.84.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings results on Monday, August 5th. The biopharmaceutical company reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.25). Xencor had a negative net margin of 132.74% and a negative return on equity of 28.23%. The company had revenue of $16.96 million during the quarter, compared to analyst estimates of $21.13 million. During the same quarter last year, the company posted ($0.37) EPS. The firm’s quarterly revenue was down 62.7% on a year-over-year basis. Sell-side analysts predict that Xencor will post -3.56 EPS for the current year.

Insider Activity at Xencor

In related news, VP John R. Desjarlais sold 36,329 shares of the stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $18.32, for a total value of $665,547.28. Following the completion of the transaction, the vice president now owns 192,319 shares of the company’s stock, valued at approximately $3,523,284.08. The sale 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.

Hedge Funds Weigh In On Xencor

Several institutional investors and hedge funds have recently added to or reduced their stakes in XNCR. Darwin Global Management Ltd. bought a new position in Xencor in the 1st quarter valued at approximately $24,557,000. Primecap Management Co. CA lifted its stake in Xencor by 8.8% in the 4th quarter. Primecap Management Co. CA now owns 8,901,607 shares of the biopharmaceutical company’s stock valued at $188,981,000 after purchasing an additional 717,401 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Xencor by 9.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,819,656 shares of the biopharmaceutical company’s stock valued at $84,530,000 after purchasing an additional 335,881 shares during the last quarter. Norges Bank bought a new position in Xencor in the 4th quarter valued at approximately $6,909,000. Finally, Baker BROS. Advisors LP lifted its stake in Xencor by 122.2% in the 1st quarter. Baker BROS. Advisors LP now owns 545,431 shares of the biopharmaceutical company’s stock valued at $12,070,000 after purchasing an additional 300,000 shares during the last quarter.

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.