Xencor (NASDAQ:XNCR) Price Target Cut to $18.00 by Analysts at JPMorgan Chase & Co.

Xencor (NASDAQ:XNCR - Get Free Report) had its price objective dropped by JPMorgan Chase & Co. from $20.00 to $18.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the biopharmaceutical company's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 28.57% from the company's current price.

XNCR has been the subject of a number of other reports. Cantor Fitzgerald increased their target price on shares of Xencor from $40.00 to $42.00 and gave the company an "overweight" rating in a research report on Thursday. Weiss Ratings reissued a "sell (d-)" rating on shares of Xencor in a research report on Tuesday, October 14th. Royal Bank Of Canada increased their target price on shares of Xencor from $18.00 to $19.00 and gave the company an "outperform" rating in a research report on Thursday. Wedbush reissued an "outperform" rating and set a $26.00 target price on shares of Xencor in a research report on Thursday. Finally, Barclays raised shares of Xencor from an "underweight" rating to an "overweight" rating and increased their target price for the company from $6.00 to $23.00 in a research report on Wednesday, October 29th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $25.67.

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Xencor Stock Performance

NASDAQ:XNCR traded down $0.37 on Thursday, hitting $14.00. The stock had a trading volume of 1,060,735 shares, compared to its average volume of 881,994. Xencor has a 1 year low of $6.92 and a 1 year high of $27.24. The firm's fifty day simple moving average is $11.47 and its two-hundred day simple moving average is $9.64. The stock has a market cap of $998.52 million, a P/E ratio of -5.83 and a beta of 0.99.

Xencor (NASDAQ:XNCR - Get Free Report) last released its earnings results on Wednesday, November 5th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, beating analysts' consensus estimates of ($0.72) by $0.64. Xencor had a negative net margin of 121.52% and a negative return on equity of 25.75%. The firm had revenue of $21.00 million during the quarter, compared to the consensus estimate of $29.73 million. During the same period in the prior year, the firm earned ($0.71) EPS. The company's revenue was up 18.0% compared to the same quarter last year. Equities research analysts predict that Xencor will post -3.68 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in Xencor by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 348,726 shares of the biopharmaceutical company's stock valued at $3,710,000 after purchasing an additional 8,581 shares during the period. Invesco Ltd. boosted its holdings in Xencor by 44.3% in the 1st quarter. Invesco Ltd. now owns 656,201 shares of the biopharmaceutical company's stock valued at $6,982,000 after purchasing an additional 201,456 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Xencor by 89.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 726,734 shares of the biopharmaceutical company's stock valued at $7,732,000 after purchasing an additional 344,088 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Xencor during the 1st quarter worth $1,655,000. Finally, Y Intercept Hong Kong Ltd lifted its holdings in shares of Xencor by 93.0% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 95,745 shares of the biopharmaceutical company's stock worth $753,000 after acquiring an additional 46,140 shares during the last quarter.

Xencor Company Profile

Xencor, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of engineered monoclonal antibody and cytokine therapeutics to treat patients with cancer and autoimmune diseases. The company provides Sotrovimab that targets the SARS-CoV-2 virus; Ultomiris for the treatment of patients with paroxysmal nocturnal hemoglobinuria and atypical hemolytic uremic syndrome; and Monjuvi for the treatment of patients with relapsed or refractory diffuse large B-cell lymphoma.

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