Xencor (NASDAQ:XNCR) Announces Quarterly Earnings Results

Xencor (NASDAQ:XNCR) announced its quarterly earnings data on Monday. The biopharmaceutical company reported ($1.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.25), Briefing.com reports. The business had revenue of $16.96 million during the quarter, compared to analyst estimates of $21.13 million. Xencor had a negative net margin of 82.23% and a negative return on equity of 20.29%. The company’s revenue for the quarter was down 62.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.37) EPS.

Xencor Trading Up 0.4 %

Shares of XNCR stock opened at $17.85 on Wednesday. The company has a market capitalization of $1.10 billion, a P/E ratio of -8.15 and a beta of 0.69. The company has a current ratio of 7.08, a quick ratio of 7.08 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $20.25 and its two-hundred day moving average is $21.24. Xencor has a twelve month low of $16.49 and a twelve month high of $26.84.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. BMO Capital Markets restated an “outperform” rating and set a $32.00 price target on shares of Xencor in a report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 target price on shares of Xencor in a research note on Tuesday. Wedbush reaffirmed an “outperform” rating and set a $34.00 price target (down from $36.00) on shares of Xencor in a report on Thursday, June 13th. BTIG Research cut their target price on Xencor from $56.00 to $38.00 and set a “buy” rating on the stock in a research report on Tuesday, April 16th. Finally, Raymond James reduced their price objective on shares of Xencor from $58.00 to $40.00 and set a “strong-buy” rating for the company in a research report on Friday, June 14th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.44.

Insider Transactions at Xencor

In other Xencor news, VP John R. Desjarlais sold 36,329 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $18.32, for a total value of $665,547.28. Following the transaction, the vice president now directly owns 192,319 shares of the company’s stock, valued at approximately $3,523,284.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.23% 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 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.