Xencor (NASDAQ:XNCR) Given New $33.00 Price Target at Wells Fargo & Company

Xencor (NASDAQ:XNCR) had its target price decreased by Wells Fargo & Company from $37.00 to $33.00 in a report issued on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the biopharmaceutical company’s stock.

Other research analysts have also recently issued research reports about the stock. Piper Sandler upgraded shares of Xencor from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $20.00 to $30.00 in a research report on Monday, December 2nd. JPMorgan Chase & Co. boosted their target price on Xencor from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. StockNews.com cut Xencor from a “hold” rating to a “sell” rating in a report on Wednesday. Wedbush reissued an “outperform” rating and set a $38.00 price objective on shares of Xencor in a report on Thursday, November 7th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $34.00 target price (up previously from $32.00) on shares of Xencor in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.38.

Xencor Price Performance

Shares of XNCR stock opened at $15.36 on Friday. Xencor has a 52 week low of $14.18 and a 52 week high of $27.24. The stock has a market capitalization of $1.07 billion, a PE ratio of -4.80 and a beta of 0.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.23 and a current ratio of 6.23. The stock’s fifty day moving average is $19.61 and its 200-day moving average is $20.64.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported ($0.62) EPS for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.19. Xencor had a negative net margin of 232.77% and a negative return on equity of 30.92%. The firm had revenue of $52.79 million for the quarter, compared to analyst estimates of $17.14 million. Equities research analysts expect that Xencor will post -3.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other Xencor news, Director Alan Bruce Montgomery sold 1,421 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $27.03, for a total value of $38,409.63. Following the sale, the director now directly owns 9,140 shares in the company, valued at approximately $247,054.20. This trade represents a 13.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.23% of the company’s stock.

Institutional Trading of Xencor

Large investors have recently made changes to their positions in the company. Sterling Capital Management LLC lifted its holdings in Xencor by 732.4% during the fourth quarter. Sterling Capital Management LLC now owns 1,182 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 1,040 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Xencor during the fourth quarter worth about $34,000. GAMMA Investing LLC lifted its holdings in shares of Xencor by 31.0% during the 4th quarter. GAMMA Investing LLC now owns 2,147 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 508 shares in the last quarter. KBC Group NV grew its position in shares of Xencor by 63.5% in the 3rd quarter. KBC Group NV now owns 3,123 shares of the biopharmaceutical company’s stock valued at $63,000 after purchasing an additional 1,213 shares during the period. Finally, Quarry LP increased its stake in Xencor by 111.4% during the 3rd quarter. Quarry LP now owns 4,000 shares of the biopharmaceutical company’s stock worth $80,000 after purchasing an additional 2,108 shares in the last quarter.

About Xencor

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.