Cantor Fitzgerald analyst Alethia Young reiterated a Buy rating on Xencor Inc (XNCR) today and set a price target of $40. The company’s shares opened today at $32.50.
“. We reiterate our Overweight rating and $40 price target. We think Xencor’s collaboration and license agreement with Astellas (ALPMF, NC) marks another source of platform validation and pipeline income for the company. Xencor will develop and characterize bispecific candidates against an Astellas-selected oncology target. We do not know whether Astellas has chosen to develop a CD3 engaging bispecific but we view the agreement as another point of support to the the ongoing partial clinical hold on XmAb14045. From speaking to the company, the substantial high-single to low-double digit royalty is one of the highest for this type of technology access deal.”
According to TipRanks.com, Young is a 5-star analyst with an average return of 8.8% and a 50.9% success rate. Young covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Vertex Pharmaceuticals, and Sarepta Therapeutics.
Xencor Inc has an analyst consensus of Moderate Buy, with a price target consensus of $40.
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Based on Xencor Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $18.2 million. In comparison, last year the company had a GAAP net loss of $29.49 million.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of XNCR in relation to earlier this year.
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Xencor, Inc. engages in the development of engineered monoclonal antibody therapeutics to treat severe and life-threatening diseases. Its proprietary technology platform, XmAb, is used to create next-generation antibody product candidates designed to treat autoimmune and allergic diseases, cancer, and other conditions.