Xencor (NASDAQ:XNCR) Lowered to Sell Rating by StockNews.com

StockNews.com downgraded shares of Xencor (NASDAQ:XNCR) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. increased their price target on Xencor from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Wells Fargo & Company began coverage on Xencor in a research note on Thursday, December 12th. They set an “overweight” rating and a $37.00 price target for the company. BMO Capital Markets reiterated an “outperform” rating and set a $34.00 price target (up previously from $32.00) on shares of Xencor in a research note on Friday, November 8th. Piper Sandler upgraded Xencor from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $20.00 to $30.00 in a research note on Monday, December 2nd. Finally, Wedbush reiterated an “outperform” rating and set a $38.00 price target on shares of Xencor in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Xencor has a consensus rating of “Moderate Buy” and a consensus price target of $34.38.

Xencor Trading Up 2.5 %

Shares of Xencor stock opened at $15.36 on Wednesday. Xencor has a 1 year low of $14.18 and a 1 year high of $27.24. The firm has a market cap of $1.07 billion, a PE ratio of -4.80 and a beta of 0.70. The stock has a fifty day moving average price of $19.61 and a 200-day moving average price of $20.64. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.23 and a quick ratio of 6.23.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($0.81) by $0.19. The company had revenue of $52.79 million during the quarter, compared to the consensus estimate of $17.14 million. Xencor had a negative return on equity of 30.92% and a negative net margin of 232.77%. Equities research analysts anticipate that Xencor will post -3.68 EPS for the current year.

Insider Buying and Selling at Xencor

In other news, Director Alan Bruce Montgomery sold 1,421 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $27.03, for a total transaction of $38,409.63. Following the completion of the transaction, the director now owns 9,140 shares of the company’s stock, valued at approximately $247,054.20. The trade was a 13.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.23% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of XNCR. Point72 Asset Management L.P. grew its holdings in shares of Xencor by 147.3% during the third quarter. Point72 Asset Management L.P. now owns 3,120,229 shares of the biopharmaceutical company’s stock worth $62,748,000 after purchasing an additional 1,858,440 shares in the last quarter. RTW Investments LP grew its holdings in shares of Xencor by 317.9% during the fourth quarter. RTW Investments LP now owns 2,402,883 shares of the biopharmaceutical company’s stock worth $55,218,000 after purchasing an additional 1,827,883 shares in the last quarter. BVF Inc. IL grew its holdings in shares of Xencor by 169.3% during the fourth quarter. BVF Inc. IL now owns 2,288,760 shares of the biopharmaceutical company’s stock worth $52,596,000 after purchasing an additional 1,438,760 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Xencor by 452.4% during the fourth quarter. Nuveen Asset Management LLC now owns 837,082 shares of the biopharmaceutical company’s stock worth $19,236,000 after purchasing an additional 685,557 shares in the last quarter. Finally, Finepoint Capital LP purchased a new position in shares of Xencor during the fourth quarter worth about $15,167,000.

About Xencor

Xencor, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of engineered monoclonal antibody and cytokine therapeutics to treat patients with cancer and autoimmune diseases. The company provides Sotrovimab that targets the SARS-CoV-2 virus; Ultomiris for the treatment of patients with paroxysmal nocturnal hemoglobinuria and atypical hemolytic uremic syndrome; and Monjuvi for the treatment of patients with relapsed or refractory diffuse large B-cell lymphoma.