Xencor (XNCR) Receives Buy Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their buy rating on shares of Xencor (NASDAQ:XNCR) in a report published on Tuesday. Cantor Fitzgerald currently has a $40.00 price target on the biopharmaceutical company’s stock.

“: We reiterate our Overweight rating and are adjusting our PT to $40 from $37 for XNCR stock. We believe the company’s Fc-engineering know-how will produce abundant drug candidates with which to populate XNCR’s proprietary pipeline as well as partnering opportunities as needed. As with most so-called technology platform companies, we believe proof of concept/commercial potential would compel investors to ascribe some value to assets the identity/ characteristics of which have not yet been revealed.”,” Cantor Fitzgerald’s analyst wrote.

A number of other research analysts have also recently commented on the company. BTIG Research started coverage on Xencor in a research report on Monday, September 10th. They issued a buy rating and a $56.00 price target on the stock. BidaskClub upgraded Xencor from a hold rating to a buy rating in a research report on Thursday, September 20th. Wedbush restated an outperform rating and issued a $42.00 price target on shares of Xencor in a research report on Monday, October 8th. Piper Jaffray Companies restated an overweight rating on shares of Xencor in a research report on Tuesday, August 7th. Finally, Zacks Investment Research upgraded Xencor from a hold rating to a buy rating and set a $47.00 price target on the stock in a research report on Friday, August 10th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $41.13.

Shares of NASDAQ XNCR traded down $1.84 during mid-day trading on Tuesday, reaching $37.88. The company had a trading volume of 184,118 shares, compared to its average volume of 253,280. Xencor has a one year low of $19.50 and a one year high of $48.38.

Xencor (NASDAQ:XNCR) last issued its quarterly earnings results on Monday, November 5th. The biopharmaceutical company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.52) by $0.57. The company had revenue of $29.04 million during the quarter. As a group, equities analysts anticipate that Xencor will post -1.69 EPS for the current year.

In other Xencor news, major shareholder John S. Stafford III sold 1,000 shares of Xencor stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $48.05, for a total value of $48,050.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul A. Foster sold 40,000 shares of Xencor stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $46.03, for a total value of $1,841,200.00. Following the completion of the transaction, the insider now owns 44,952 shares in the company, valued at approximately $2,069,140.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 127,341 shares of company stock worth $5,390,865. Company insiders own 4.70% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC grew its holdings in shares of Xencor by 0.4% during the third quarter. FMR LLC now owns 8,373,916 shares of the biopharmaceutical company’s stock worth $326,331,000 after purchasing an additional 30,163 shares during the last quarter. Artal Group S.A. grew its holdings in shares of Xencor by 25.0% during the third quarter. Artal Group S.A. now owns 500,000 shares of the biopharmaceutical company’s stock worth $19,485,000 after purchasing an additional 100,000 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Xencor by 1.0% during the third quarter. BlackRock Inc. now owns 4,051,683 shares of the biopharmaceutical company’s stock worth $157,896,000 after purchasing an additional 40,528 shares during the last quarter. Swiss National Bank grew its holdings in shares of Xencor by 2.3% during the third quarter. Swiss National Bank now owns 87,300 shares of the biopharmaceutical company’s stock worth $3,402,000 after purchasing an additional 2,000 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Xencor by 5.2% during the third quarter. JPMorgan Chase & Co. now owns 251,155 shares of the biopharmaceutical company’s stock worth $9,787,000 after purchasing an additional 12,320 shares during the last quarter. Hedge funds and other institutional investors own 83.03% of the company’s stock.

About Xencor

Xencor, Inc, a clinical stage biopharmaceutical company, focuses on the discovery and development of engineered monoclonal antibody 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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Analyst Recommendations for Xencor (NASDAQ:XNCR)

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