Xencor (NASDAQ:XNCR) Downgraded by Guggenheim

Guggenheim downgraded shares of Xencor (NASDAQ:XNCR) from a buy rating to a neutral rating in a research report sent to investors on Wednesday, BenzingaRatingsTable reports.

A number of other research firms also recently issued reports on XNCR. ValuEngine upgraded shares of Xencor from a buy rating to a strong-buy rating in a report on Tuesday, July 2nd. Mizuho restated a buy rating and issued a $52.00 target price on shares of Xencor in a report on Monday, July 1st. Piper Jaffray Companies boosted their target price on shares of Xencor from $56.00 to $67.00 and gave the company an overweight rating in a report on Monday, July 8th. BidaskClub upgraded shares of Xencor from a hold rating to a buy rating in a research note on Wednesday. Finally, Cantor Fitzgerald reiterated a buy rating and set a $40.00 price objective on shares of Xencor in a research note on Sunday, May 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $45.57.

Xencor stock traded up $0.56 during trading on Wednesday, reaching $37.48. The company had a trading volume of 299,376 shares, compared to its average volume of 391,659. Xencor has a 12-month low of $27.75 and a 12-month high of $48.38. The business’s 50 day moving average price is $42.67. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of -28.61 and a beta of 1.39. The company has a quick ratio of 6.66, a current ratio of 8.27 and a debt-to-equity ratio of 0.02.

Xencor (NASDAQ:XNCR) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.15. Xencor had a net margin of 28.46% and a return on equity of 8.40%. The firm had revenue of $19.49 million during the quarter, compared to the consensus estimate of $7.58 million. Equities analysts expect that Xencor will post 0.06 earnings per share for the current year.

In other Xencor news, major shareholder John S. Stafford III acquired 12,641 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was bought at an average cost of $29.87 per share, for a total transaction of $377,586.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.33% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in shares of Xencor by 42.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 399,186 shares of the biopharmaceutical company’s stock worth $14,432,000 after purchasing an additional 119,347 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Xencor by 17.7% during the fourth quarter. Bank of America Corp DE now owns 32,333 shares of the biopharmaceutical company’s stock worth $1,169,000 after purchasing an additional 4,867 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Xencor by 8.8% during the fourth quarter. Legal & General Group Plc now owns 18,728 shares of the biopharmaceutical company’s stock worth $678,000 after purchasing an additional 1,517 shares in the last quarter. Amalgamated Bank acquired a new position in shares of Xencor during the fourth quarter worth $248,000. Finally, Norges Bank acquired a new position in shares of Xencor during the fourth quarter worth $28,271,000. Institutional investors own 83.54% of the company’s stock.

About Xencor

Xencor, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of engineered monoclonal antibody and other protein 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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