Xencor (NASDAQ:XNCR) Stock Rating Upgraded by Zacks Research

Xencor (NASDAQ:XNCR) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. increased their price target on shares of Xencor from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xencor in a research report on Wednesday, June 24th. Wall Street Zen downgraded Xencor from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 9th. Finally, Truist Financial dropped their price target on Xencor from $29.00 to $27.00 and set a “buy” rating for the company in a research note on Tuesday. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.25.

Xencor Stock Up 5.2%

Xencor stock opened at $15.67 on Monday. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -6.84 and a beta of 0.86. The business has a 50-day simple moving average of $12.69 and a 200 day simple moving average of $12.76. Xencor has a 52 week low of $6.92 and a 52 week high of $18.69.

Xencor (NASDAQ:XNCR) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($1.71) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.96). Xencor had a negative net margin of 177.10% and a negative return on equity of 28.77%. The business had revenue of $4.52 million during the quarter, compared to analysts’ expectations of $27.86 million. During the same period in the previous year, the business earned ($0.66) EPS. The business’s revenue was down 86.2% on a year-over-year basis. On average, research analysts anticipate that Xencor will post -3.84 earnings per share for the current year.

Institutional Trading of Xencor

A number of institutional investors have recently made changes to their positions in XNCR. ADAR1 Capital Management LLC raised its holdings in Xencor by 66.8% during the 1st quarter. ADAR1 Capital Management LLC now owns 93,665 shares of the biopharmaceutical company’s stock valued at $1,130,000 after buying an additional 37,500 shares during the last quarter. Quantinno Capital Management LP grew its holdings in Xencor by 21.1% in the 1st quarter. Quantinno Capital Management LP now owns 57,077 shares of the biopharmaceutical company’s stock worth $688,000 after acquiring an additional 9,943 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Xencor by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,294,887 shares of the biopharmaceutical company’s stock valued at $15,613,000 after acquiring an additional 45,599 shares during the period. Principal Financial Group Inc. increased its position in shares of Xencor by 2.0% in the first quarter. Principal Financial Group Inc. now owns 347,078 shares of the biopharmaceutical company’s stock valued at $4,186,000 after acquiring an additional 6,752 shares during the period. Finally, Fifth Third Bancorp raised its stake in shares of Xencor by 3,690.2% during the first quarter. Fifth Third Bancorp now owns 17,018 shares of the biopharmaceutical company’s stock valued at $205,000 after acquiring an additional 16,569 shares during the last quarter.

About Xencor

Xencor, Inc is a clinical-stage biopharmaceutical company focused on the design and development of engineered protein therapeutics for the treatment of autoimmune diseases, cancer and neurological disorders. The company applies its proprietary XmAb® platform to manipulate antibody structure and function, creating molecules with enhanced immune engagement and extended half-life. Xencor’s research programs span a range of therapeutic modalities, including monoclonal antibodies, bispecific antibodies and cytokine-based fusion proteins.

The XmAb® platform enables precise modification of the Fc region to augment key properties such as receptor binding, effector function and pharmacokinetics.