Xencor (XNCR) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Xencor (NASDAQ:XNCR) from a hold rating to a buy rating in a research report sent to investors on Saturday. Zacks Investment Research currently has $44.00 price target on the biopharmaceutical company’s stock.

According to Zacks, “Xencor Inc. is a clinical-stage biopharmaceutical company. It develops antibodies for the treatment of autoimmune diseases, asthma and allergic diseases, and cancer. Xencor Inc. is based in Monrovia, California. “

Several other analysts also recently issued reports on the company. Cantor Fitzgerald reissued an overweight rating on shares of Xencor in a research note on Friday, November 23rd. BidaskClub raised Xencor from a hold rating to a buy rating in a research note on Friday, November 23rd. Wedbush reissued an outperform rating and set a $42.00 target price on shares of Xencor in a research note on Monday, October 8th. BTIG Research assumed coverage on Xencor in a research note on Monday, September 10th. They set a buy rating and a $56.00 target price on the stock. Finally, Canaccord Genuity lifted their target price on Xencor from $38.00 to $45.00 and gave the company a buy rating in a research note on Wednesday, August 8th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $41.57.

Shares of XNCR opened at $42.01 on Friday. Xencor has a 12-month low of $19.89 and a 12-month high of $48.38.

Xencor (NASDAQ:XNCR) last issued its earnings results on Monday, November 5th. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.52) by $0.57. The business had revenue of $29.04 million for the quarter. On average, research analysts anticipate that Xencor will post -1.53 earnings per share for the current year.

In other Xencor news, insider Paul A. Foster sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $46.03, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder John S. Stafford III sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $48.05, for a total value of $48,050.00. The disclosure for this sale can be found here. Company insiders own 4.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN grew its holdings in Xencor by 5.4% during the 3rd quarter. Wells Fargo & Company MN now owns 25,710 shares of the biopharmaceutical company’s stock valued at $1,002,000 after buying an additional 1,310 shares in the last quarter. Tocqueville Asset Management L.P. boosted its holdings in shares of Xencor by 19.0% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 9,400 shares of the biopharmaceutical company’s stock worth $348,000 after purchasing an additional 1,500 shares during the period. Public Employees Retirement Association of Colorado boosted its holdings in shares of Xencor by 64.7% in the 3rd quarter. Public Employees Retirement Association of Colorado now owns 4,404 shares of the biopharmaceutical company’s stock worth $172,000 after purchasing an additional 1,730 shares during the period. Swiss National Bank boosted its holdings in shares of Xencor by 2.3% in the 3rd 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 period. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in shares of Xencor by 16.3% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 15,127 shares of the biopharmaceutical company’s stock worth $560,000 after purchasing an additional 2,116 shares during the period. Institutional investors and hedge funds own 82.23% of the company’s stock.

Xencor Company Profile

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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