Cantor Fitzgerald Sticks to Its Buy Rating for Xencor Inc (XNCR)


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 $37.50.

Young commented:

“we reiterate our Overweight rating and $40 Price Target. We believe that this announcement continues to show the value of their platform in a world where bi-specifics are becoming more important. Xencor announced a new partnership with Genentech on XmAb24306, which is a preclinical bispecific targeting IL-15 and IL-15 alpha and a 2 year research program to discover new IL-15 candidates. XNCR is up 5% in early trading. We think this deal continues to validate Xencor’s platform and gives them greater cash flexibility while still having their own portfolio of assets to develop.”

According to TipRanks.com, Young is a 4-star analyst with an average return of 5.0% and a 47.4% success rate. Young covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Sarepta Therapeutics, and Puma Biotechnology.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Xencor Inc with a $46 average price target.

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The company has a one-year high of $48.38 and a one-year low of $20.89. Currently, Xencor Inc has an average volume of 186.4K.

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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.

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