In a report released today, Alethia Young from Cantor Fitzgerald reiterated a Buy rating on Xencor Inc (XNCR), with a price target of $40. The company’s shares opened today at $33.99.
Young observed:
“. We reiterate our Overweight rating and $40 12-month price target. We expect today’s partial clinical hold on the XmAb14045 lead bi- specific program will raise concern around the program. The stock is trading down today, but we think it remains too early to read to the bispecific platform based on two relatively dissimilar deaths. We include our views and color from mgmnt. The two deaths prompting the partial FDA hold were clinically different but occurred close together temporally. One death occurred after cytokine release syndrome (CRS) after the first dose. The patient withdrew consent for management after initial CRS treatment.”
According to TipRanks.com, Young is a 4-star analyst with an average return of 5.3% and a 48.3% 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 $46, which is a 35.3% upside from current levels. In a report issued on February 5, Piper Jaffray also reiterated a Buy rating on the stock with a $52 price target.
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The company has a one-year high of $48.38 and a one-year low of $24.14. Currently, Xencor Inc has an average volume of 179.2K.
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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.
