Cantor Fitzgerald reiterated their buy rating on shares of Xencor (NASDAQ:XNCR) in a report released on Tuesday morning. They currently have a $40.00 price objective on the biopharmaceutical company’s stock.
“: We reiterate our Overweight rating and are adjusting our PT to $40 from $37 for XNCR stock. We believe the company’s Fc-engineering know-how will produce abundant drug candidates with which to populate XNCR’s proprietary pipeline as well as partnering opportunities as needed. As with most so-called technology platform companies, we believe proof of concept/commercial potential would compel investors to ascribe some value to assets the identity/ characteristics of which have not yet been revealed.”,” Cantor Fitzgerald’s analyst commented.
XNCR has been the subject of a number of other reports. BidaskClub cut Xencor from a buy rating to a hold rating in a research note on Friday, September 7th. BTIG Research started coverage on Xencor in a research note on Monday, September 10th. They issued a buy rating and a $56.00 price objective for the company. Wedbush reaffirmed an outperform rating and issued a $42.00 price objective on shares of Xencor in a research note on Monday, October 8th. Canaccord Genuity lifted their price objective on Xencor from $38.00 to $45.00 and gave the company a buy rating in a research note on Wednesday, August 8th. Finally, Zacks Investment Research raised Xencor from a hold rating to a buy rating and set a $47.00 price objective for the company in a research note on Friday, August 10th. Two equities 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 stock. The stock currently has a consensus rating of Buy and an average price target of $41.13.
Xencor (NASDAQ:XNCR) last issued its quarterly earnings data on Monday, November 5th. The biopharmaceutical company reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.52) by $0.57. The firm had revenue of $29.04 million during the quarter. As a group, analysts expect that Xencor will post -1.85 EPS for the current year.
In other news, insider Edgardo Baracchini, Jr. sold 50,000 shares of the company’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $40.16, for a total transaction of $2,008,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder John S. Stafford III sold 1,000 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $48.05, for a total value of $48,050.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 127,341 shares of company stock valued at $5,390,865. Insiders own 4.70% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Swiss National Bank boosted its position in shares of 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 acquiring an additional 2,000 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Xencor by 5.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 251,155 shares of the biopharmaceutical company’s stock valued at $9,787,000 after purchasing an additional 12,320 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Xencor by 5.4% in the 3rd quarter. Wells Fargo & Company MN now owns 25,710 shares of the biopharmaceutical company’s stock valued at $1,002,000 after purchasing an additional 1,310 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in shares of Xencor by 64.7% in the 3rd quarter. Public Employees Retirement Association of Colorado now owns 4,404 shares of the biopharmaceutical company’s stock valued at $172,000 after purchasing an additional 1,730 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Xencor by 16.7% in the 3rd quarter. First Trust Advisors LP now owns 75,007 shares of the biopharmaceutical company’s stock valued at $2,923,000 after purchasing an additional 10,759 shares during the last quarter. 83.03% of the stock is owned by institutional investors and hedge funds.
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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