After Piper Jaffray and Canaccord Genuity assigned a Buy rating to Xencor Inc in the last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst William Tanner reiterated a Buy rating on Xencor Inc (NASDAQ: XNCR) today and set a price target of $37. The company’s shares opened today at $30.47.
Tanner noted:
“XmAb5871 may be most important asset to keep an eye on. The MAb is designed to reduce B cell activity, a function that may be desirable for treating conditions such as IgG4 related disease (IgG4-RD) and systemic lupus erythematosus (SLE). By the end of 2018, release of top-line data from a Phase 2 trial in SLE and initiation of pivotal testing in IgG4-RD are expected. We believe the IgG4-RD indication is addressable by XNCR but, if effective in SLE, we wonder whether the company might need a commercialization partner.”
According to TipRanks.com, Tanner is a 4-star analyst with an average return of 7.6% and a 50.6% success rate. Tanner covers the Healthcare sector, focusing on stocks such as Synergy Pharmaceuticals Inc, Supernus Pharmaceuticals, and Intra-Cellular Therapies.
Currently, the analyst consensus on Xencor Inc is Strong Buy and the average price target is $37, representing a 21.4% upside.
In a report released today, Canaccord Genuity also maintained a Buy rating on the stock with a $38 price target.
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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 $11.84 million. In comparison, last year the company had a GAAP net loss of $14.64 million.
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2018, Edgardo Baracchini, the CBO of XNCR sold 40,000 shares for a total of $1,235,600.
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Xencor, Inc. is a clinical stage biopharmaceutical company, which develops monoclonal antibodies for the treatment of autoimmune diseases, asthma & allergic diseases and cancer. Its clinical sate XmAb technology is used for the treatment of IgG4-related disease; systemic lupus erythematosus; asthma & allergic diseases; acute myeloid leukemia; B-cell malignancies; and neuroendocrine tumors. The company was founded by Bassil I. Dahiyat and Stephen L. Mayo in August 1997 and is headquartered in Monrovia, CA.
