Xencor’s (XNCR) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Xencor (NASDAQ:XNCR)‘s stock had its “overweight” rating reissued by stock analysts at Cantor Fitzgerald in a note issued to investors on Thursday, Benzinga reports. They currently have a $70.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald‘s price objective suggests a potential upside of 99.83% from the stock’s previous close.

Several other equities research analysts also recently commented on XNCR. Barclays set a $45.00 target price on Xencor and gave the company an “overweight” rating in a report on Monday, October 26th. Wedbush upped their price target on Xencor from $30.00 to $45.00 and gave the stock an “outperform” rating in a report on Tuesday, October 27th. Wall Street Zen upgraded Xencor from a “strong sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xencor in a research report on Monday, September 21st. Finally, Royal Bank Of Canada lifted their price objective on shares of Xencor from $20.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, October 27th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.22.

Xencor Trading Up 14.3%

Shares of XNCR stock opened at $35.03 on Thursday. The company has a market cap of $2.60 billion, a PE ratio of -16.14 and a beta of 0.78. The company’s fifty day simple moving average is $25.92 and its 200-day simple moving average is $17.24. Xencor has a 52 week low of $10.38 and a 52 week high of $35.05.

Xencor (NASDAQ:XNCR) last announced its quarterly earnings results on Wednesday, November 4th. The biopharmaceutical company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.83. The firm had revenue of $116.52 million during the quarter, compared to the consensus estimate of $63.00 million. Xencor had a negative return on equity of 28.66% and a negative net margin of 155.59%. The firm’s quarterly revenue was up 453.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) EPS. Equities research analysts expect that Xencor will post -3.05 EPS for the current fiscal year.

Institutional Trading of Xencor

Several large investors have recently modified their holdings of XNCR. Seven Fleet Capital Management LP purchased a new stake in shares of Xencor during the second quarter worth about $7,828,524,000. BlackRock Inc. acquired a new position in shares of Xencor in the second quarter worth about $219,785,000. Primecap Management Co. CA acquired a new position in shares of Xencor in the second quarter worth about $163,919,000. Legal & General Group Plc purchased a new position in Xencor in the second quarter valued at about $17,568,000. Finally, Dimensional Fund Advisors LP boosted its holdings in 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 purchasing an additional 45,599 shares during the last quarter.

About Xencor

Xencor, Inc is a clinical-stage biopharmaceutical company headquartered in Monrovia, California. Founded in 1997, the company develops engineered antibodies and other biologic medicines for the treatment of cancer, autoimmune disorders and other serious diseases.

Xencor’s research is centered on its XmAb technology platform, which is designed to modify antibodies to improve their therapeutic properties or create new antibody-based mechanisms. The platform supports the development of bispecific antibodies, immune-cell engagers and antibodies with extended activity in the body.