Xencor (XNCR) Downgraded to “Hold” at BidaskClub

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BidaskClub lowered shares of Xencor (NASDAQ:XNCR) from a buy rating to a hold rating in a report released on Friday.

Several other analysts have also issued reports on XNCR. Zacks Investment Research lowered Xencor from a buy rating to a hold rating in a research note on Friday, May 11th. ValuEngine raised Xencor from a buy rating to a strong-buy rating in a research note on Tuesday, May 22nd. BTIG Research initiated coverage on Xencor in a research note on Thursday, June 7th. They issued a buy rating and a $56.00 target price for the company. Piper Jaffray Companies reaffirmed an overweight rating on shares of Xencor in a research note on Tuesday, August 7th. Finally, Canaccord Genuity upped their target price on Xencor from $38.00 to $45.00 and gave the stock a buy rating in a research note on Wednesday, August 8th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $40.38.

Shares of XNCR stock traded down $0.04 during trading on Friday, hitting $38.40. The company had a trading volume of 161,149 shares, compared to its average volume of 156,058. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of -36.57 and a beta of 1.61. Xencor has a 52 week low of $18.97 and a 52 week high of $44.88.

Xencor (NASDAQ:XNCR) last posted its quarterly earnings data on Monday, August 6th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.48) by $0.02. Xencor had a negative net margin of 137.35% and a negative return on equity of 20.32%. equities analysts anticipate that Xencor will post -2.24 earnings per share for the current fiscal year.

In other news, insider Bassil I. Dahiyat sold 50,000 shares of the stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $40.51, for a total transaction of $2,025,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John J. Kuch sold 25,000 shares of the stock in a transaction that occurred on Wednesday, June 13th. The shares were sold at an average price of $41.64, for a total value of $1,041,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 566,651 shares of company stock valued at $22,763,811. 4.70% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in XNCR. Redmile Group LLC boosted its stake in shares of Xencor by 137.2% during the first quarter. Redmile Group LLC now owns 3,204,343 shares of the biopharmaceutical company’s stock valued at $96,066,000 after purchasing an additional 1,853,449 shares during the period. BVF Inc. IL bought a new position in shares of Xencor during the first quarter valued at approximately $27,042,000. BlackRock Inc. raised its holdings in shares of Xencor by 28.5% during the second quarter. BlackRock Inc. now owns 4,011,155 shares of the biopharmaceutical company’s stock valued at $148,452,000 after acquiring an additional 889,181 shares in the last quarter. PointState Capital LP bought a new position in shares of Xencor during the first quarter valued at approximately $14,300,000. Finally, Artal Group S.A. raised its holdings in shares of Xencor by 200.0% during the first quarter. Artal Group S.A. now owns 300,000 shares of the biopharmaceutical company’s stock valued at $8,994,000 after acquiring an additional 200,000 shares in the last quarter. 83.08% of the stock is owned by hedge funds and other institutional investors.

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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