After Piper Jaffray and Wedbush gave Xencor Inc (NASDAQ: XNCR) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Alethia Young reiterated a Buy rating on Xencor Inc yesterday and set a price target of $40. The company’s shares closed yesterday at $30.66, close to its 52-week low of $27.57.
Young noted:
“. We reiterate our Overweight rating and $40 price target after XNCR’s 4Q print. We learned on the call that it will move forward with a partner for obexlimab for further development. We think that is a reasonable conclusion so the company can focus on its oncology pipeline. For our thesis, we remain focused on the company generating proof-of-concept with wholly owned and early stage oncology assets like SSTR2xCD3, PD-1xCTLA4, and CD20xCD3. Also, we expect Ultromaris to generate modest near-term revenues along with MOR208, which could be on market by 2020.”
According to TipRanks.com, Young is a 4-star analyst with an average return of 5.5% and a 48.8% success rate. Young covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Vertex Pharmaceuticals, and Sarepta Therapeutics.
Currently, the analyst consensus on Xencor Inc is a Strong Buy with an average price target of $46.33, which is a 51.1% upside from current levels. In a report released yesterday, Piper Jaffray also reiterated a Buy rating on the stock with a $56 price target.
See today’s analyst top recommended stocks >>
Based on Xencor Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $3.15 million. In comparison, last year the company had a GAAP net loss of $11.84 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
