Xencor (NASDAQ:XNCR) Sets New 52-Week High on Strong Earnings

Xencor, Inc. (NASDAQ:XNCR) shares hit a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The company traded as high as $33.86 and last traded at $33.90, with a volume of 825,662 shares trading hands. The stock had previously closed at $30.64.

The biopharmaceutical company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.83. Xencor had a negative net margin of 58.79% and a negative return on equity of 21.37%. The firm had revenue of $116.52 million for the quarter, compared to analysts’ expectations of $63.00 million. During the same quarter last year, the business earned ($0.08) earnings per share. The business’s revenue was up 453.3% on a year-over-year basis.

Wall Street Analysts Forecast Growth

XNCR has been the topic of a number of analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Xencor in a research report on Monday, September 21st. Wells Fargo & Company increased their target price on shares of Xencor from $30.00 to $44.00 and gave the stock an “overweight” rating in a report on Tuesday, October 27th. Wall Street Zen raised Xencor from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 8th. Royal Bank Of Canada boosted their price target on Xencor from $20.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday, October 27th. Finally, Truist Financial increased their price objective on Xencor from $29.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Xencor currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.22.

Institutional Trading of Xencor

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Johnson & Johnson purchased a new position in Xencor during the 2nd quarter valued at about $12,043,798. Hsbc Holdings PLC increased its stake in shares of Xencor by 114.2% during the second quarter. Hsbc Holdings PLC now owns 125,482 shares of the biopharmaceutical company’s stock valued at $2,083,000 after purchasing an additional 66,903 shares in the last quarter. Man Group plc bought a new position in shares of Xencor during the second quarter valued at approximately $940,000. Primecap Management Co. CA bought a new position in shares of Xencor during the second quarter valued at approximately $163,919,000. Finally, Seven Fleet Capital Management LP purchased a new position in shares of Xencor during the second quarter valued at approximately $7,828,524,000.

Xencor Stock Up 5.0%

The company’s fifty day moving average price is $26.04 and its 200-day moving average price is $17.34. The stock has a market capitalization of $2.66 billion, a PE ratio of -22.48 and a beta of 0.78.

Xencor Company Profile

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.