BTIG Research Trims Xencor (NASDAQ:XNCR) Target Price to $38.00

Xencor (NASDAQ:XNCR) had its target price reduced by BTIG Research from $56.00 to $38.00 in a research note published on Tuesday morning, Marketbeat Ratings reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Several other brokerages also recently commented on XNCR. Piper Sandler restated a neutral rating and issued a $24.00 price objective (down from $37.00) on shares of Xencor in a research report on Wednesday, February 28th. Wedbush dropped their price target on Xencor from $36.00 to $34.00 and set an outperform rating for the company in a research note on Wednesday, February 28th. Mizuho reduced their price objective on shares of Xencor from $59.00 to $50.00 and set a buy rating on the stock in a research report on Monday, January 22nd. Royal Bank of Canada restated an outperform rating and set a $32.00 target price on shares of Xencor in a research report on Wednesday, February 28th. Finally, StockNews.com upgraded shares of Xencor from a sell rating to a hold rating in a report on Saturday, March 9th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Xencor has an average rating of Moderate Buy and a consensus target price of $36.00.

Xencor Trading Down 0.6 %

Xencor stock opened at $18.95 on Tuesday. The company has a current ratio of 7.36, a quick ratio of 7.36 and a debt-to-equity ratio of 0.02. Xencor has a 12-month low of $16.49 and a 12-month high of $28.96. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -9.02 and a beta of 0.76. The firm has a 50 day moving average of $22.24 and a 200 day moving average of $20.38.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings data on Tuesday, February 27th. The biopharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.67). Xencor had a negative return on equity of 18.67% and a negative net margin of 74.90%. The firm had revenue of $44.70 million during the quarter, compared to analysts’ expectations of $77.63 million. During the same period last year, the company earned ($0.20) earnings per share. The business’s revenue for the quarter was up 106.9% on a year-over-year basis. As a group, research analysts predict that Xencor will post -3.25 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP John R. Desjarlais sold 1,280 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $23.50, for a total transaction of $30,080.00. Following the completion of the sale, the vice president now directly owns 186,433 shares of the company’s stock, valued at approximately $4,381,175.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Xencor news, VP John R. Desjarlais sold 54,108 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $19.38, for a total value of $1,048,613.04. Following the completion of the sale, the vice president now directly owns 161,675 shares of the company’s stock, valued at approximately $3,133,261.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP John R. Desjarlais sold 1,280 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $23.50, for a total transaction of $30,080.00. Following the completion of the transaction, the vice president now owns 186,433 shares in the company, valued at $4,381,175.50. The disclosure for this sale can be found here. Insiders sold a total of 101,351 shares of company stock valued at $2,152,417 over the last 90 days. Insiders own 4.97% of the company’s stock.

Hedge Funds Weigh In On Xencor

Hedge funds and other institutional investors have recently made changes to their positions in the company. State of New Jersey Common Pension Fund D boosted its stake in shares of Xencor by 24.8% during the third quarter. State of New Jersey Common Pension Fund D now owns 110,353 shares of the biopharmaceutical company’s stock valued at $2,224,000 after purchasing an additional 21,946 shares in the last quarter. Hudson Bay Capital Management LP increased its holdings in shares of Xencor by 144.7% in the 3rd quarter. Hudson Bay Capital Management LP now owns 232,500 shares of the biopharmaceutical company’s stock valued at $4,685,000 after acquiring an additional 137,500 shares during the period. Deutsche Bank AG raised its position in shares of Xencor by 13.0% in the 3rd quarter. Deutsche Bank AG now owns 33,098 shares of the biopharmaceutical company’s stock worth $667,000 after acquiring an additional 3,805 shares in the last quarter. Diversified Trust Co purchased a new stake in shares of Xencor during the 4th quarter worth $265,000. Finally, Illinois Municipal Retirement Fund purchased a new stake in shares of Xencor during the 3rd quarter worth $707,000.

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.