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The latest update is out from Xencor ( (XNCR) ).
On March 2, 2026, Alexion Pharmaceuticals, Inc., licensee of Xencor’s XmAb Fc technology for Ultomiris, told Xencor it would no longer pay royalties on U.S. sales of the drug, while continuing to pay royalties on sales outside the United States. Xencor disputes Alexion’s position, is evaluating its options, and had previously forecast an additional $100 million to $120 million in U.S. Ultomiris royalties through 2028 tied to a recently issued U.S. patent.
Following the change in royalty expectations, Xencor updated its financial guidance but maintained that, based on current plans, it expects to end 2026 with $380 million to $400 million in cash, cash equivalents and marketable debt securities. The company said this liquidity should be sufficient to fund its research and development programs and operations into mid-2028, suggesting a solid near- to medium-term operating runway despite the U.S. Ultomiris royalty dispute.
The most recent analyst rating on (XNCR) stock is a Hold with a $11.50 price target. To see the full list of analyst forecasts on Xencor stock, see the XNCR Stock Forecast page.
Spark’s Take on XNCR Stock
According to Spark, TipRanks’ AI Analyst, XNCR is a Neutral.
The score is primarily weighed down by weak financial performance (revenue collapse to $0 in 2025, large ongoing losses, and significant cash burn), partially offset by a relatively strong balance sheet with low-to-moderate leverage. Technical indicators are mixed but lean weak (negative MACD and below key medium-term averages), and valuation is constrained by losses (negative P/E) with no dividend yield data.
To see Spark’s full report on XNCR stock, click here.
More about Xencor
Xencor, Inc. is a clinical-stage biopharmaceutical company specializing in engineered antibodies for treating cancer and autoimmune diseases. The company’s XmAb technology underpins more than 20 clinical-stage candidates and several partnered, marketed medicines, reflecting a business model that combines proprietary drug development with licensing of its antibody engineering platforms.
Average Trading Volume: 707,972
Technical Sentiment Signal: Sell
Current Market Cap: $881.5M
See more data about XNCR stock on TipRanks’ Stock Analysis page.