Leerink Partnrs Brokers Lift Earnings Estimates for Xencor

Xencor, Inc. (NASDAQ:XNCR - Free Report) - Analysts at Leerink Partnrs raised their FY2024 earnings per share estimates for Xencor in a report released on Thursday, November 7th. Leerink Partnrs analyst J. Chang now expects that the biopharmaceutical company will post earnings per share of ($3.96) for the year, up from their previous estimate of ($4.36). The consensus estimate for Xencor's current full-year earnings is ($3.91) per share. Leerink Partnrs also issued estimates for Xencor's Q4 2024 earnings at ($1.07) EPS and FY2025 earnings at ($3.40) EPS.

Other research analysts have also recently issued reports about the company. Wedbush reaffirmed an "outperform" rating and set a $38.00 price objective on shares of Xencor in a research report on Thursday. JPMorgan Chase & Co. raised their price objective on shares of Xencor from $27.00 to $28.00 and gave the company an "overweight" rating in a research 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 report on Thursday, September 26th. Finally, BMO Capital Markets reissued an "outperform" rating and set a $34.00 price target (up from $32.00) on shares of Xencor in a report on Friday. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $35.75.

Xencor Stock Performance

NASDAQ XNCR traded down $0.31 on Monday, hitting $23.31. 648,239 shares of the company traded hands, compared to its average volume of 596,972. The business's 50 day moving average price is $20.45 and its 200-day moving average price is $20.29. Xencor has a 52-week low of $15.31 and a 52-week high of $26.84. The company has a current ratio of 6.23, a quick ratio of 6.92 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -7.28 and a beta of 0.66.

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 for the quarter, topping the consensus estimate of ($0.98) by $0.27. The business had revenue of $10.70 million for the quarter, compared to analysts' expectations of $14.59 million. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The company's revenue was down 81.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.40) EPS.

Institutional Investors Weigh In On Xencor

Several large investors have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Xencor in the first quarter valued at $4,608,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Xencor by 9.6% in 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 purchasing an additional 335,881 shares during the period. Entropy Technologies LP purchased a new stake in shares of Xencor in the first quarter valued at approximately $573,000. Russell Investments Group Ltd. increased its holdings in Xencor by 43.1% during the 1st quarter. Russell Investments Group Ltd. now owns 224,140 shares of the biopharmaceutical company's stock worth $4,960,000 after purchasing an additional 67,522 shares during the period. Finally, Panagora Asset Management Inc. raised its position in Xencor by 9.4% during the 2nd quarter. Panagora Asset Management Inc. now owns 232,375 shares of the biopharmaceutical company's stock valued at $4,399,000 after purchasing an additional 20,043 shares in 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.