What is Wedbush's Forecast for Xencor FY2024 Earnings?

Xencor, Inc. (NASDAQ:XNCR - Free Report) - Analysts at Wedbush raised their FY2024 earnings per share (EPS) estimates for shares of Xencor in a report released on Thursday, November 7th. Wedbush analyst D. Nierengarten now anticipates that the biopharmaceutical company will post earnings per share of ($3.64) for the year, up from their previous forecast of ($3.87). Wedbush currently has a "Outperform" rating and a $38.00 price objective on the stock. The consensus estimate for Xencor's current full-year earnings is ($3.91) per share. Wedbush also issued estimates for Xencor's Q4 2024 earnings at ($0.75) EPS, Q1 2025 earnings at ($0.82) EPS, Q2 2025 earnings at ($0.81) EPS, Q3 2025 earnings at ($0.82) EPS, Q4 2025 earnings at ($0.82) EPS, FY2025 earnings at ($3.27) EPS, FY2026 earnings at ($3.33) EPS, FY2027 earnings at ($3.42) EPS and FY2028 earnings at ($4.25) EPS.

Several other brokerages have also issued reports on XNCR. Royal Bank of Canada upped their target price on Xencor from $31.00 to $34.00 and gave the stock an "outperform" rating in a research note on Thursday, September 26th. BMO Capital Markets reaffirmed an "outperform" rating and set a $34.00 target price (up previously from $32.00) on shares of Xencor in a report on Friday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Xencor from $27.00 to $28.00 and gave the stock an "overweight" rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Xencor presently has an average rating of "Moderate Buy" and an average price target of $35.75.

Xencor Price Performance

Shares of XNCR traded down $0.31 during midday trading on Monday, reaching $23.31. The stock had a trading volume of 648,239 shares, compared to its average volume of 596,972. 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. The company's 50-day moving average is $20.45 and its 200 day moving average is $20.29. Xencor has a 12-month low of $15.31 and a 12-month high of $26.84.

Xencor (NASDAQ:XNCR - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, beating the consensus estimate of ($0.98) by $0.27. The firm 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 business's quarterly revenue was down 81.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.40) EPS.

Hedge Funds Weigh In On Xencor

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP bought a new stake in Xencor during the second quarter worth about $36,000. KBC Group NV boosted its position in shares of Xencor by 63.5% in the 3rd quarter. KBC Group NV now owns 3,123 shares of the biopharmaceutical company's stock worth $63,000 after purchasing an additional 1,213 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Xencor in the 2nd quarter worth approximately $154,000. XTX Topco Ltd bought a new position in Xencor during the 2nd quarter valued at approximately $196,000. Finally, Acadian Asset Management LLC purchased a new position in Xencor during the first quarter valued at $206,000.

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.