Xencor (NASDAQ:XNCR) Price Target Cut to $33.00 by Analysts at Wells Fargo & Company

Xencor (NASDAQ:XNCR) had its price objective dropped by analysts at Wells Fargo & Company from $37.00 to $33.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 115.98% from the stock’s previous close.

A number of other research analysts have also issued reports on XNCR. Piper Sandler upgraded shares of Xencor from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $20.00 to $30.00 in a research note on Monday, December 2nd. StockNews.com cut Xencor from a “hold” rating to a “sell” rating in a research report on Wednesday. Wedbush reissued an “outperform” rating and set a $38.00 target price on shares of Xencor in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on Xencor from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $34.00 price objective (up previously from $32.00) on shares of Xencor in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Xencor presently has a consensus rating of “Moderate Buy” and an average price target of $34.38.

Xencor Stock Performance

Shares of NASDAQ:XNCR traded up $0.30 during trading on Friday, reaching $15.28. The company had a trading volume of 248,972 shares, compared to its average volume of 497,777. Xencor has a fifty-two week low of $14.18 and a fifty-two week high of $27.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.23 and a quick ratio of 6.23. The stock’s fifty day moving average price is $19.61 and its 200 day moving average price is $20.64. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -4.77 and a beta of 0.70.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.19. The firm had revenue of $52.79 million for the quarter, compared to analyst estimates of $17.14 million. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. As a group, equities research analysts predict that Xencor will post -3.68 EPS for the current year.

Insider Buying and Selling

In other Xencor news, Director Alan Bruce Montgomery sold 1,421 shares of Xencor stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $27.03, for a total transaction of $38,409.63. Following the completion of the transaction, the director now owns 9,140 shares in the company, valued at approximately $247,054.20. The trade was a 13.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 5.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Xencor by 5.5% in the 4th quarter. Vanguard Group Inc. now owns 8,017,366 shares of the biopharmaceutical company’s stock valued at $184,239,000 after buying an additional 418,040 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Xencor by 2.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,036,412 shares of the biopharmaceutical company’s stock valued at $92,758,000 after acquiring an additional 107,350 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Xencor by 147.3% during the third quarter. Point72 Asset Management L.P. now owns 3,120,229 shares of the biopharmaceutical company’s stock valued at $62,748,000 after acquiring an additional 1,858,440 shares during the last quarter. TCG Crossover Management LLC increased its position in Xencor by 1.0% during the 4th quarter. TCG Crossover Management LLC now owns 2,452,138 shares of the biopharmaceutical company’s stock worth $56,350,000 after purchasing an additional 25,000 shares in the last quarter. Finally, RTW Investments LP raised its stake in Xencor by 317.9% in the 4th quarter. RTW Investments LP now owns 2,402,883 shares of the biopharmaceutical company’s stock valued at $55,218,000 after purchasing an additional 1,827,883 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.