Xencor Receives Upgrade by StockNews.com to Hold Status Amid Analyst Reviews

On a notable Friday, Xencor NASDAQ:XNCR, a clinical-stage biopharmaceutical company specializing in antibody and cytokine therapies for cancer and autoimmune diseases, received an upgraded rating from StockNews.com. The research analysts shifted their stance on Xencor, elevating the stock from a "sell" to a "hold" recommendation. This adjustment comes amidst a series of analytic reports pertaining to the company’s future potentials and performance.

Analyst Perspectives on Xencor

The analysts at Royal Bank of Canada recently adjusted their target price for Xencor from $36.00 down to $32.00, yet maintained an "outperform" rating. Piper Sandler, on the other hand, elevated their target price from $42.00 to $45.00. Meanwhile, Guggenheim lowered their projected price point from $40.00 to $34.00 but still recommended a "buy" rating. Similarly, Wedbush Securities also trimmed their target from $37.00 to $36.00, notwithstanding their "outperform" rating in place.

With an assortment of evaluations from different analysts, Xencor has managed to accumulate an average rating of "Moderate Buy" with a consensus target price of $41.56, according to MarketBeat.com data.

Financial Highlights and Stock Performance

Xencor experienced an opening stock price of $17.06 on the Friday in question. The stock's 50-day simple moving average stood at $19.35, with the 200-day simple moving average at $23.17. Xencor’s market valuation reached $1.04 billion, featuring a price-to-earnings (P/E) ratio at -8.57 and a beta of 0.70. The company’s shares touched a year-long low at $16.49 and a peak of $38.20.

For its recent quarterly earnings, Xencor reported an earnings per share (EPS) of -$0.40, surpassing consensus estimates by $0.37. Its quarterly revenue amounted to $59.16 million, doubling the expected $30.01 million. These figures represent a substantial 116.7% increase year-over-year. Based on analyst forecasts, Xencor is expected to post an EPS of -$2.11 for the current fiscal year.

Institutional Investments in Xencor

Several institutional investors have altered their stakes in Xencor. BlackRock Inc. NYSE:BLK, a leading investment management corporation, increased its holdings by 0.5%, resulting in 9,385,217 owned shares valued at approximately $250,396,000. State Street Corporation NYSE:STT, a prominent financial services entity, also enhanced its position by 3.9%, equating to 3,280,168 shares at an estimated value of $91,484,000.

About Xencor

Xencor, Inc. NASDAQ:XNCR is headquartered in Monrovia, California and remains at the forefront of engineering monoclonal antibodies and cytokines for therapeutic use. Its product pipeline includes Sotrovimab for SARS-CoV-2, Ultomiris for blood disorders, and Monjuvi for B-cell lymphoma treatments.

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