Xencor (XNCR) Price Target Raised to $44.00 at Wedbush

Xencor (NASDAQ:XNCR) had its target price increased by stock analysts at Wedbush from $42.00 to $44.00 in a report issued on Friday. The brokerage presently has an “outperform” rating on the biopharmaceutical company’s stock. Wedbush’s price target suggests a potential upside of 14.37% from the stock’s previous close.

A number of other equities analysts have also recently commented on XNCR. Zacks Investment Research raised shares of Xencor from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Friday, August 10th. BidaskClub cut shares of Xencor from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. BTIG Research assumed coverage on shares of Xencor in a report on Monday, September 10th. They set a “buy” rating and a $56.00 price objective for the company. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $40.00 price objective on shares of Xencor in a report on Tuesday, November 6th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Xencor presently has an average rating of “Buy” and a consensus price target of $41.86.

XNCR stock opened at $38.47 on Friday. Xencor has a 12 month low of $19.89 and a 12 month high of $48.38. The stock has a market cap of $2.22 billion, a P/E ratio of -36.64 and a beta of 1.79.

Xencor (NASDAQ:XNCR) last released its quarterly earnings results on Monday, November 5th. The biopharmaceutical company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.57. The firm had revenue of $29.04 million for the quarter. As a group, analysts predict that Xencor will post -1.53 earnings per share for the current year.

In related news, insider Paul A. Foster sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $46.03, for a total transaction of $1,841,200.00. Following the completion of the transaction, the insider now owns 44,952 shares in the company, valued at approximately $2,069,140.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder John S. Stafford III sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $48.05, for a total transaction of $48,050.00. The disclosure for this sale can be found here. Insiders own 4.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN grew its position in Xencor by 5.4% during the 3rd quarter. Wells Fargo & Company MN now owns 25,710 shares of the biopharmaceutical company’s stock worth $1,002,000 after purchasing an additional 1,310 shares during the last quarter. Tocqueville Asset Management L.P. grew its position in Xencor by 19.0% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 9,400 shares of the biopharmaceutical company’s stock worth $348,000 after purchasing an additional 1,500 shares during the last quarter. Public Employees Retirement Association of Colorado grew its position in Xencor by 64.7% during the 3rd quarter. Public Employees Retirement Association of Colorado now owns 4,404 shares of the biopharmaceutical company’s stock worth $172,000 after purchasing an additional 1,730 shares during the last quarter. Swiss National Bank grew its position in Xencor by 2.3% during the 3rd quarter. Swiss National Bank now owns 87,300 shares of the biopharmaceutical company’s stock worth $3,402,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its position in Xencor by 16.3% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 15,127 shares of the biopharmaceutical company’s stock worth $560,000 after purchasing an additional 2,116 shares during the last quarter. Hedge funds and other institutional investors own 82.17% of the company’s stock.

Xencor Company Profile

Xencor, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of engineered monoclonal antibody therapeutics to treat severe and life threatening diseases with unmet medical needs. It develops its antibody product candidates to treat autoimmune and allergic diseases, cancer, and other conditions.

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