According to a recent report by Bloomberg Ratings, &Xencor, Inc. (NASDAQ:XNCR) has received a consensus rating of “Buy” from twelve research firms that are currently covering the stock. Of these twelve analysts, eleven have recommended buying the stock, while one has given a strong buy recommendation to the company. This positive sentiment is reflected in the average 1-year price objective of $44.20 among brokerages that have issued reports on the stock in the past year.
The confidence in Xencor is not only shared by research firms but also by institutional investors and hedge funds who have made notable changes to their positions in the business. For instance, CWM LLC increased its position in Xencor shares by 57.7% during the second quarter and now owns 1,440 shares worth $36,000 after purchasing an additional 527 shares. Quadrant Capital Group LLC also grew its position in Xencor by 19.5% in the fourth quarter and now owns 2,606 shares worth $68,000 after purchasing an additional 426 shares.
Tower Research Capital LLC TRC saw a significant increase of 48.4% in its position during the first quarter with 2,438 shares worth $68,000 after purchasing an additional 795 shares. Point72 Asset Management L.P., on the other hand, acquired a new position with Xencor during the fourth quarter valued at approximately $73,000.
Lastly, Dark Forest Capital Management LP witnessed remarkable growth of approximately 568.5% during the first quarter with its ownership of Xencor stocks increasing to 3,369 shares worth $94,000 after purchasing an additional 2,865 shares.
Xencor’s core focus is on developing engineered monoclonal antibody and cytokine therapeutics for patients suffering from cancer and autoimmune diseases. Among its notable products are Sotrovimab, which targets the SARS-CoV-2 virus, and Ultomiris, used in the treatment of paroxysmal nocturnal hemoglobinuria and atypical hemolytic uremic syndrome. Additionally, Xencor offers Monjuvi as a treatment option for patients with relapsed or refractory diffuse large B-cell lymphoma.
With a consensus “Buy” rating and a strong portfolio of innovative therapeutics, Xencor is positioned to make significant strides in the biopharmaceutical industry. As investors and analysts alike recognize its potential, there is growing optimism surrounding the company’s future prospects.
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Xencor’s Performance and Analyst Attention Spark Speculation
In recent times, Xencor (NASDAQ:XNCR) has attracted significant attention from analysts, leading to a flurry of reports analyzing the company’s performance and potential. Among these reports, Wedbush reaffirmed its “outperform” rating for Xencor on August 4th, along with a price objective of $37.00. Conversely, StockNews.com downgraded the stock from a “hold” rating to a “sell” rating on August 25th. Adding to the mix, Piper Sandler increased their target price for Xencor shares from $42.00 to $45.00 on August 7th.
When the market opened on Friday, September 22nd, Xencor stock began trading at $20.35. It is worth noting that the company has recorded a fifty-day simple moving average of $22.85 and a two-hundred-day simple moving average of $25.68 in recent periods. Interestingly, during this time frame, Xencor experienced a considerable fluctuation in stock prices, ranging from a one-year low of $20.14 to a one-year high of $38.20.
As we delve deeper into the financials of Xencor Inc., we find that it currently holds a market capitalization of approximately $1.23 billion while sporting a negative P/E ratio of -9.51 and an intriguing beta value of 0.72.
On Thursday, August 3rd, Xencor announced its quarterly earnings data which featured an impressive performance for the biopharmaceutical company. The reported earnings per share (EPS) stood at ($0.37) for the quarter, surpassing analysts’ consensus estimates by $0.54 as they had predicted ($0.91) EPS instead.
Additional figures revealed that Xencor faced negative net margins amounting to 112.46% and encountered an unfavorable return on equity, reaching -18.14%. However, the silver lining was evident in the company’s revenue for the quarter, which totaled $45.52 million. This result notably surpassed the consensus estimate of $26.25 million, showcasing a remarkable 50.9% increase on a year-over-year basis. Comparatively, Xencor had posted ($0.57) EPS during the same quarter of the previous year.
Given these figures and recent developments within the industry, equities research analysts are keeping a watchful eye on Xencor’s performance as they forecast that the company will post negative earnings per share (-2.87 EPS) for the current fiscal year.
As with any investment decision, it is crucial for investors to thoroughly analyze multiple factors including analyst reports, stock prices, historical data, and financials before drawing any conclusions or making investment choices. With Xencor gaining significant attention in recent times, it remains to be seen how its future unfolds and whether it will surpass market expectations.
Note: The referenced date in this article is September 22, 2023.
