Sumitomo Mitsui Financial Group stock analysts initiated a hedge on the shares of Xencor (NASDAQ:XNCR) in a note released Friday to investors, Briefing.com reports. The company has set an “outperform” rating and a price target of $60.00 on shares of the biopharmaceutical company. Sumitomo Mitsui Financial Group’s target price suggests a potential upside of 72.27% from the company’s previous close.
Other equity research analysts have also recently published research reports on the company. BTIG Research reaffirmed a “buy” rating on Xencor shares in a Tuesday, November 9 research report. Guggenheim lowered its price target on Xencor from $57.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, September 28. Zacks Investment Research upgraded Xencor from a “buy” to a “hold” rating in a Friday, November 12 research note. Piper Sandler lowered its price target on Xencor from $75.00 to $71.00 and set an “overweight” rating for the company in a Tuesday, Nov. 9 research note. Finally, HC Wainwright began coverage of Xencor in a research note on Wednesday, December 15. They issued a “buy” rating and a price target of $61.00 for the company. One financial analyst has assigned the stock a sell rating, one has assigned a hold rating and nine have assigned the stock a buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $53.40.
The NASDAQ XNCR opened at $34.83 on Friday. The company has a market capitalization of $2.04 billion, a PE ratio of -348.30 and a beta of 0.76. The stock’s 50-day simple moving average is $37.40 and its 200-day simple moving average is $35.63. Xencor has a 1-year low of $30.12 and a 1-year high of $58.35.
Xencor Inc (NASDAQ:XNCR) last reported results on Monday, November 8. The biopharmaceutical company reported ($0.69) EPS for the quarter, beating the Zacks consensus estimate of ($0.75) by $0.06. Xencor posted a negative return on equity of 0.68% and a negative net margin of 2.53%. The company posted revenue of $19.68 million for the quarter, versus a consensus estimate of $17.63 million. In the same quarter of the previous year, the company had earned a profit per share of ($0.22). Research analysts expect Xencor to post an EPS of 0.62 for the current fiscal year.
Separately, CMO Allen Yang sold 3,664 shares of the company in a trade on Friday, December 17. The stock was sold at an average price of $36.62, for a total transaction of $134,175.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. Insiders own 3.68% of the shares of the company.
Several institutional investors have recently bought and sold shares of the company. Baillie Gifford & Co. increased its equity stake in Xencor by 2,227.8% in the 4th quarter. Baillie Gifford & Co. now owns 29,307 shares of the biopharmaceutical company valued at $1,176,000 after purchasing an additional 28,048 shares in the last quarter. Segall Bryant & Hamill LLC increased its equity stake in Xencor by 2.7% in the third quarter. Segall Bryant & Hamill LLC now owns 93,656 shares of the biopharmaceutical company valued at $3,059,000 after buying 2,483 additional shares in the last quarter. Hudson Bay Capital Management LP increased its equity stake in Xencor by 32.6% in the third quarter. Hudson Bay Capital Management LP now owns 126,000 shares of the biopharmaceutical company valued at $4,115,000 after buying an additional 31,000 shares in the last quarter. Comerica Bank increased its stake in Xencor by 97.2% during the 3rd quarter. Comerica Bank now owns 107,212 shares of the biopharmaceutical company valued at $3,744,000 after acquiring 52,848 additional shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Xencor by 0.6% during the third quarter. Bank of New York Mellon Corp now owns 579,802 shares of the biopharmaceutical company valued at $18,936,000 after acquiring 3,393 additional shares in the last quarter. 98.16% of the shares are held by institutional investors and hedge funds.
Xencor Company Profile
Xencor, Inc is engaged in the development of therapeutic monoclonal antibodies designed to treat serious and life-threatening diseases. Its proprietary technology platform, XmAb, is used to create next-generation candidate antibodies designed to treat autoimmune and allergic diseases, cancer and other conditions.
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