Xencor (XNCR) Rating Increased to Buy at Zacks Investment Research

Xencor (NASDAQ:XNCR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage currently has a $42.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.90% from the company’s current price.

According to Zacks, “Xencor Inc. is a clinical-stage biopharmaceutical company. It develops antibodies for the treatment of autoimmune diseases, asthma and allergic diseases, and cancer. Xencor Inc. is based in Monrovia, California. “

A number of other research analysts also recently weighed in on XNCR. BidaskClub downgraded Xencor from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 31st. Piper Jaffray Companies reissued an “overweight” rating on shares of Xencor in a report on Tuesday, August 7th. Canaccord Genuity raised their price objective on Xencor from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, August 8th. BTIG Research assumed coverage on Xencor in a research note on Monday, September 10th. They issued a “buy” rating and a $56.00 price objective on the stock. Finally, Wedbush reaffirmed an “outperform” rating and issued a $42.00 price objective on shares of Xencor in a research note on Monday, October 8th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $41.29.

XNCR stock opened at $37.20 on Thursday. Xencor has a fifty-two week low of $19.50 and a fifty-two week high of $48.38. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of -35.43 and a beta of 1.73.

Xencor (NASDAQ:XNCR) last posted its earnings results on Monday, November 5th. The biopharmaceutical company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.57. The firm had revenue of $29.04 million during the quarter. On average, equities research analysts forecast that Xencor will post -1.53 EPS for the current year.

In other news, insider Paul A. Foster sold 40,000 shares of the firm’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $46.03, for a total value of $1,841,200.00. Following the transaction, the insider now owns 44,952 shares of the company’s stock, valued at $2,069,140.56. The transaction was disclosed in a 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 firm’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. 4.70% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can bought a new stake in Xencor during the 2nd quarter valued at approximately $232,000. First Trust Advisors LP bought a new stake in Xencor during the 2nd quarter valued at approximately $2,378,000. Northern Trust Corp raised its stake in Xencor by 22.3% during the 2nd quarter. Northern Trust Corp now owns 588,155 shares of the biopharmaceutical company’s stock valued at $21,768,000 after purchasing an additional 107,128 shares during the period. Metropolitan Life Insurance Co. NY raised its stake 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 valued at $560,000 after purchasing an additional 2,116 shares during the period. Finally, California Public Employees Retirement System bought a new stake in Xencor during the 2nd quarter valued at approximately $1,832,000. 82.23% of the stock is currently owned by institutional investors.

About Xencor

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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