Cantor Fitzgerald Reiterates a Buy Rating on Xencor Inc (XNCR)

By Austin Angelo

In a report issued on May 10, Alethia Young from Cantor Fitzgerald reiterated a Buy rating on Xencor Inc (XNCRResearch Report), with a price target of $40. The company’s shares closed on Friday at $35.64.

Young noted:

“. We reiterate our Overweight rating and 12-month price target of $40. Xencor reported 1Q 2019 earnings and offered a Business Update. No Ultromaris royalties were booked because they are booked ~1-2 quarters in arrears vs. Alexion. The company did have $112M in revenue from February’s Genentech deal, resulting in positive EPS for the quarter. Ultromaris and MOR208 revenues remain fast-approaching, near-term revenue opportunities. Alexion (ALXN: NC) reported $25M in Ultromaris sales in 1Q 2019. Xencor receives a low-single-digit royalty on these revenues; we model a 2% royalty.”

According to TipRanks.com, Young is a 4-star analyst with an average return of 5.9% and a 45.5% success rate. Young covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical Inc., Spectrum Pharmaceuticals, and Vertex Pharmaceuticals.

Xencor Inc has an analyst consensus of Moderate Buy, with a price target consensus of $40.33.

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The company has a one-year high of $48.38 and a one-year low of $27.75. Currently, Xencor Inc has an average volume of 231.4K.

Based on the recent corporate insider activity of 16 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.