Analyst Etzer Darout of BMO Capital maintained a Buy rating on Xencor (XNCR – Research Report), retaining the price target of $34.00.
Etzer Darout has given his Buy rating due to a combination of factors, including Xencor’s strategic shift towards prioritizing its internal T-cell engager programs and the company’s substantial cash reserves. The T-cell engagers, namely XmAb819, XmAb808, and XmAb541, target challenging solid tumors and have shown promise, with XmAb541 already entering Phase 1 clinical trials. Xencor’s financial position is robust with approximately $646.7 million in cash and equivalents, providing financial stability and a substantial runway into 2027, which mitigates investor risk and supports ongoing research and development efforts.
Additionally, Darout’s confidence in Xencor is bolstered by the company’s recent advancements and external validations. For instance, Ultomiris, which utilizes Xencor’s Xtend Fc Domain, received an additional indication approval, underscoring the platform’s potential. Furthermore, promising activity was observed in an investigational antibody that also leverages the Xtend Fc technology. These achievements, combined with a diversified pipeline and the potential for out-licensing deals, create a favorable setup for the company. Darout anticipates that the company’s shares are likely to appreciate based on positive developments expected within the next 12 to 18 months.
In another report released yesterday, Canaccord Genuity also maintained a Buy rating on the stock with a $38.00 price target.
XNCR’s price has also changed dramatically for the past six months – from $16.530 to $23.540, which is a 42.41% increase.
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Xencor (XNCR) Company Description:
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. The company was founded by Bassil I. Dahiyat and Stephen L. Mayo in August 1997 and is headquartered in Monrovia, CA.
