Piper Jaffray Cos. started coverage on shares of Xencor Inc. (NASDAQ:XNCR) in a report published on Tuesday. The firm issued an overweight rating and a $35.00 target price on the biopharmaceutical company’s stock.
Other research analysts also recently issued reports about the stock. Canaccord Genuity set a $27.00 price objective on shares of Xencor and gave the company a buy rating in a research note on Monday, September 12th. Wedbush reissued an outperform rating and set a $27.00 target price on shares of Xencor in a report on Monday, September 12th. Zacks Investment Research cut shares of Xencor from a buy rating to a hold rating in a report on Wednesday, August 31st. Finally, Leerink Swann reissued an outperform rating and set a $18.00 target price on shares of Xencor in a report on Wednesday, June 29th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $25.14.
Shares of Xencor (NASDAQ:XNCR) opened at 23.27 on Tuesday. The company’s 50-day moving average is $22.92 and its 200 day moving average is $17.35. The firm has a market capitalization of $952.88 million, a price-to-earnings ratio of 24.73 and a beta of 2.11. Xencor has a 52 week low of $9.89 and a 52 week high of $26.50.
Xencor (NASDAQ:XNCR) last posted its quarterly earnings data on Tuesday, August 2nd. The biopharmaceutical company reported $1.13 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $1.31. Xencor had a net margin of 39.07% and a return on equity of 22.53%. The firm had revenue of $66 million for the quarter, compared to the consensus estimate of $7.43 million. Analysts anticipate that Xencor will post $0.56 EPS for the current fiscal year.
In related news, major shareholder John S. Stafford III sold 96,828 shares of the stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $21.73, for a total value of $2,104,072.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Bassil I. Dahiyat sold 45,886 shares of the stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $22.06, for a total transaction of $1,012,245.16. Following the completion of the sale, the insider now directly owns 365,321 shares in the company, valued at approximately $8,058,981.26. The disclosure for this sale can be found here. 4.03% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Primecap Management Co. CA boosted its stake in Xencor by 9.7% in the second quarter. Primecap Management Co. CA now owns 5,192,895 shares of the biopharmaceutical company’s stock worth $98,613,000 after buying an additional 460,900 shares during the period. Deerfield Management Co. boosted its position in Xencor by 175.9% in the first quarter. Deerfield Management Co. now owns 3,467,512 shares of the biopharmaceutical company’s stock valued at $46,534,000 after buying an additional 2,210,900 shares during the last quarter. BlackRock Fund Advisors boosted its position in Xencor by 8.0% in the second quarter. BlackRock Fund Advisors now owns 1,362,421 shares of the biopharmaceutical company’s stock valued at $25,872,000 after buying an additional 100,933 shares during the last quarter. Vanguard Group Inc. boosted its position in Xencor by 17.3% in the second quarter. Vanguard Group Inc. now owns 1,343,701 shares of the biopharmaceutical company’s stock valued at $25,517,000 after buying an additional 197,814 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Xencor by 6.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 622,507 shares of the biopharmaceutical company’s stock valued at $11,821,000 after buying an additional 40,187 shares during the last quarter. 67.44% of the stock is currently owned by institutional investors and hedge funds.
Xencor, Inc is a clinical-stage biopharmaceutical company. The Company is focused on discovering and developing engineered monoclonal antibodies to treat severe and life threatening diseases. Its segment is related to the development of pharmaceutical products. It uses its XmAb technology platform to create antibody product candidates designed to treat autoimmune and allergic diseases, cancer and other conditions.
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