Xencor (NASDAQ:XNCR) Receives "Outperform" Rating from BMO Capital Markets

Xencor (NASDAQ:XNCR - Get Free Report)'s stock had its "outperform" rating reissued by equities research analysts at BMO Capital Markets in a note issued to investors on Friday,Benzinga reports. They presently have a $34.00 price objective on the biopharmaceutical company's stock, up from their prior price objective of $32.00. BMO Capital Markets' target price points to a potential upside of 43.95% from the stock's current price.

A number of other research analysts have also recently commented on XNCR. JPMorgan Chase & Co. upped their price target on shares of Xencor from $27.00 to $28.00 and gave the stock an "overweight" rating in a report on Thursday. Royal Bank of Canada upped their target price on shares of Xencor from $31.00 to $34.00 and gave the stock an "outperform" rating in a research note on Thursday, September 26th. Finally, Wedbush reiterated an "outperform" rating and issued a $38.00 price target on shares of Xencor in a report on Thursday. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Xencor presently has an average rating of "Moderate Buy" and a consensus target price of $35.56.

Xencor Trading Up 1.9 %

Xencor stock traded up $0.44 during midday trading on Friday, reaching $23.62. The stock had a trading volume of 535,525 shares, compared to its average volume of 596,733. Xencor has a 52-week low of $15.31 and a 52-week high of $26.84. The company has a fifty day moving average of $20.33 and a 200 day moving average of $20.23. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -7.38 and a beta of 0.66. The company has a quick ratio of 6.92, a current ratio of 6.92 and a debt-to-equity ratio of 0.02.

Xencor (NASDAQ:XNCR - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.98) by $0.27. The firm had revenue of $10.70 million during the quarter, compared to analyst estimates of $14.59 million. Xencor had a negative return on equity of 32.25% and a negative net margin of 232.77%. Xencor's quarterly revenue was down 81.9% compared to the same quarter last year. During the same period last year, the company earned ($0.40) EPS. On average, analysts anticipate that Xencor will post -4.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Xencor

Hedge funds have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Xencor in the third quarter valued at approximately $362,000. Thrivent Financial for Lutherans boosted its position in shares of Xencor by 127.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 116,369 shares of the biopharmaceutical company's stock worth $2,340,000 after purchasing an additional 65,180 shares in the last quarter. KBC Group NV grew its stake in Xencor by 63.5% during the 3rd quarter. KBC Group NV now owns 3,123 shares of the biopharmaceutical company's stock worth $63,000 after buying an additional 1,213 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in Xencor by 64.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,893 shares of the biopharmaceutical company's stock valued at $239,000 after buying an additional 4,650 shares in the last quarter. Finally, Essex LLC purchased a new stake in Xencor in the third quarter valued at about $2,668,000.

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.