Royal Bank of Canada Boosts Xencor (NASDAQ:XNCR) Price Target to $34.00

Xencor (NASDAQ:XNCR - Free Report) had its price objective hoisted by Royal Bank of Canada from $31.00 to $34.00 in a report released on Thursday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the biopharmaceutical company's stock.

Several other brokerages have also issued reports on XNCR. Raymond James decreased their price objective on Xencor from $58.00 to $40.00 and set a strong-buy rating for the company in a research report on Friday, June 14th. JPMorgan Chase & Co. lowered their price objective on shares of Xencor from $30.00 to $27.00 and set an overweight rating for the company in a research report on Wednesday, July 31st. Wedbush reaffirmed an outperform rating and issued a $34.00 price objective on shares of Xencor in a research report on Monday, September 9th. Finally, BMO Capital Markets reaffirmed an outperform rating and set a $32.00 price target on shares of Xencor in a research note on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $34.78.

Xencor Price Performance

XNCR traded up $0.70 during trading on Thursday, reaching $20.46. The stock had a trading volume of 425,564 shares, compared to its average volume of 632,507. The stock has a 50 day moving average of $18.59 and a two-hundred day moving average of $20.35. The company has a quick ratio of 6.92, a current ratio of 6.92 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -9.34 and a beta of 0.66. Xencor has a 1-year low of $15.31 and a 1-year high of $26.84.

Xencor (NASDAQ:XNCR - Get Free Report) last issued its quarterly earnings data on Monday, August 5th. The biopharmaceutical company reported ($1.07) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.25). Xencor had a negative return on equity of 28.23% and a negative net margin of 132.74%. The business had revenue of $16.96 million for the quarter, compared to analyst estimates of $21.13 million. During the same period in the previous year, the business posted ($0.37) EPS. The business's quarterly revenue was down 62.7% compared to the same quarter last year. As a group, equities analysts anticipate that Xencor will post -4.15 EPS for the current fiscal year.

Insider Activity

In other news, VP John R. Desjarlais sold 36,329 shares of the company's stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $18.32, for a total value of $665,547.28. Following the sale, the vice president now directly owns 192,319 shares of the company's stock, valued at approximately $3,523,284.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 5.23% of the company's stock.

Hedge Funds Weigh In On Xencor

Several institutional investors and hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC grew its stake in Xencor by 303.9% during the fourth quarter. Parallel Advisors LLC now owns 1,349 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 1,015 shares in the last quarter. Quarry LP bought a new position in Xencor in the second quarter valued at approximately $36,000. GAMMA Investing LLC raised its position in Xencor by 153.7% during the first quarter. GAMMA Investing LLC now owns 2,172 shares of the biopharmaceutical company's stock valued at $48,000 after purchasing an additional 1,316 shares in the last quarter. Quest Partners LLC bought a new stake in Xencor during the fourth quarter worth $61,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Xencor in the 2nd quarter valued at $154,000.

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.