Xencor (NASDAQ:XNCR) Posts Quarterly Earnings Results, Beats Estimates By $0.51 EPS

Xencor (NASDAQ:XNCR) posted its quarterly earnings data on Wednesday. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.51, Zacks reports. Xencor had a negative net margin of 177.10% and a negative return on equity of 28.77%.

Xencor Stock Performance

Shares of XNCR traded down $0.08 during midday trading on Wednesday, hitting $19.84. The company had a trading volume of 823,253 shares, compared to its average volume of 842,667. Xencor has a 1 year low of $6.92 and a 1 year high of $21.76. The firm has a market capitalization of $1.47 billion, a P/E ratio of -8.66 and a beta of 0.85. The company’s 50-day simple moving average is $15.19 and its 200-day simple moving average is $13.22.

Analysts Set New Price Targets

A number of brokerages have issued reports on XNCR. Wall Street Zen lowered Xencor from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 9th. Truist Financial dropped their price objective on Xencor from $29.00 to $27.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Zacks Research raised Xencor from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Xencor in a research note on Wednesday, June 24th. Finally, Wedbush restated an “outperform” rating and issued a $26.00 price objective on shares of Xencor in a report on Thursday, July 30th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.25.

Institutional Trading of Xencor

Several hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its position in shares of Xencor by 118.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,568 shares of the biopharmaceutical company’s stock valued at $44,000 after purchasing an additional 3,018 shares during the last quarter. E Fund Management Co. Ltd. purchased a new stake in shares of Xencor during the 2nd quarter worth $79,000. iSAM Funds UK Ltd acquired a new position in shares of Xencor during the second quarter worth $122,000. Prelude Capital Management LLC acquired a new position in shares of Xencor during the third quarter worth $139,000. Finally, Creative Planning increased its holdings in Xencor by 25.3% in the second quarter. Creative Planning now owns 18,130 shares of the biopharmaceutical company’s stock valued at $143,000 after buying an additional 3,661 shares during the last quarter.

Xencor Company Profile

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.