Xencor (NASDAQ:XNCR) Reaches New 12-Month High – What’s Next?

Xencor, Inc. (NASDAQ:XNCR) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $22.22 and last traded at $22.10, with a volume of 1109982 shares traded. The stock had previously closed at $21.58.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wall Street Zen raised Xencor from a “strong sell” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. raised their price objective on shares of Xencor from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Xencor in a report on Wednesday, June 24th. Cantor Fitzgerald upped their price target on shares of Xencor from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Finally, Wedbush raised their price target on shares of Xencor from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $24.86.

Xencor Trading Up 2.4%

The stock has a market cap of $1.64 billion, a P/E ratio of -10.18 and a beta of 0.85. The business has a 50-day simple moving average of $16.11 and a 200 day simple moving average of $13.50.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.51. The company had revenue of $51.22 million during the quarter, compared to the consensus estimate of $18.89 million. Xencor had a negative return on equity of 28.66% and a negative net margin of 155.59%.The firm’s revenue was up 17.4% compared to the same quarter last year. During the same period last year, the company earned ($0.41) earnings per share. As a group, equities analysts expect that Xencor, Inc. will post -3 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC increased its position in shares of Xencor by 118.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company’s stock worth $44,000 after buying an additional 3,018 shares during the period. Allworth Financial LP acquired a new position in Xencor in the second quarter valued at $55,000. E Fund Management Co. Ltd. acquired a new position in Xencor in the second quarter valued at $79,000. Wealth Enhancement Advisory Services LLC bought a new stake in Xencor during the fourth quarter valued at $81,000. Finally, iSAM Funds UK Ltd bought a new stake in Xencor during the second quarter valued at $122,000.

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.