Xencor (NASDAQ:XNCR) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Xencor (NASDAQ:XNCR - Get Free Report) had its price target boosted by investment analysts at JPMorgan Chase & Co. from $27.00 to $28.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the biopharmaceutical company's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 22.27% from the stock's previous close.

A number of other analysts also recently issued reports on the stock. BMO Capital Markets reaffirmed an "outperform" rating and set a $32.00 price objective on shares of Xencor in a report on Tuesday, August 6th. Royal Bank of Canada raised their price target 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, Wedbush reaffirmed an "outperform" rating and set a $38.00 price objective on shares of Xencor in a research note on Thursday. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Xencor currently has an average rating of "Moderate Buy" and a consensus price target of $35.33.

Xencor Stock Performance

NASDAQ XNCR traded up $0.22 during trading hours on Thursday, reaching $22.90. 308,972 shares of the company were exchanged, compared to its average volume of 595,829. The stock has a market capitalization of $1.60 billion, a P/E ratio of -7.88 and a beta of 0.66. The business's 50 day simple moving average is $20.21 and its 200-day simple moving average is $20.21. 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 has a 1 year low of $15.31 and a 1 year high of $26.84.

Xencor (NASDAQ:XNCR - Get Free Report) last announced its quarterly earnings results 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. Xencor had a negative return on equity of 28.23% and a negative net margin of 132.74%. The company had revenue of $10.70 million during the quarter, compared to analysts' expectations of $14.59 million. During the same period in the previous year, the business earned ($0.40) earnings per share. The firm's quarterly revenue was down 81.9% compared to the same quarter last year. On average, equities research analysts expect that Xencor will post -4.11 earnings per share for the current year.

Institutional Investors Weigh In On Xencor

Several institutional investors and hedge funds have recently made changes to their positions in XNCR. Quarry LP purchased a new stake in shares of Xencor during the 2nd quarter valued at about $36,000. KBC Group NV lifted its stake 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 during the period. SG Americas Securities LLC purchased a new position in shares of Xencor in the second quarter worth approximately $154,000. Acadian Asset Management LLC purchased a new stake in Xencor during the first quarter valued at approximately $206,000. Finally, XTX Topco Ltd purchased a new stake in Xencor during the second quarter valued at approximately $196,000.

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.

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