Royal Bank of Canada Lowers Xencor (NASDAQ:XNCR) Price Target to $31.00

Xencor (NASDAQ:XNCR) had its price target reduced by Royal Bank of Canada from $32.00 to $31.00 in a research note released on Friday, Benzinga reports. They currently have an outperform rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also recently commented on the company. BTIG Research lowered their price target on Xencor from $56.00 to $38.00 and set a buy rating for the company in a report on Tuesday, April 16th. Wedbush reiterated an outperform rating and set a $34.00 price objective (down from $36.00) on shares of Xencor in a research report on Thursday, June 13th. BMO Capital Markets dropped their price objective on shares of Xencor from $38.00 to $34.00 and set an outperform rating for the company in a research note on Wednesday, February 28th. Piper Sandler reaffirmed a neutral rating and set a $24.00 target price (down previously from $37.00) on shares of Xencor in a research note on Wednesday, February 28th. Finally, StockNews.com upgraded Xencor from a sell rating to a hold rating in a research note on Saturday, March 9th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $35.38.

Xencor Stock Down 5.2 %

Xencor stock opened at $19.52 on Friday. The company has a quick ratio of 7.08, a current ratio of 7.08 and a debt-to-equity ratio of 0.02. Xencor has a twelve month low of $16.49 and a twelve month high of $26.84. The stock has a market capitalization of $1.20 billion, a PE ratio of -8.91 and a beta of 0.82. The company has a 50 day moving average of $21.84 and a 200-day moving average of $21.51.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.28). Xencor had a negative return on equity of 20.29% and a negative net margin of 82.23%. The business had revenue of $12.80 million for the quarter, compared to the consensus estimate of $23.07 million. During the same quarter in the previous year, the business posted ($1.02) EPS. The company’s revenue for the quarter was down 32.3% on a year-over-year basis. On average, equities research analysts anticipate that Xencor will post -3.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Xencor

Institutional investors have recently added to or reduced their stakes in the company. Primecap Management Co. CA lifted its position in Xencor by 8.8% during the fourth 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 period. Vanguard Group Inc. grew its stake in shares of Xencor by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 7,011,042 shares of the biopharmaceutical company’s stock valued at $155,154,000 after purchasing an additional 243,793 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Xencor by 9.6% during the first 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 buying an additional 335,881 shares during the last quarter. Armistice Capital LLC increased its stake in shares of Xencor by 1.5% in the 4th quarter. Armistice Capital LLC now owns 1,500,000 shares of the biopharmaceutical company’s stock worth $31,845,000 after purchasing an additional 22,000 shares in the last quarter. Finally, Darwin Global Management Ltd. bought a new position in shares of Xencor in the first quarter worth about $24,557,000.

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.