Xencor’s Growth Potential and Strategic Positioning Justify Buy Rating and $38 Price Target

Canaccord Genuity analyst John Newman maintained a Buy rating on Xencor (XNCR – Research Report) today and set a price target of $38.00.

John Newman’s rating is based on several compelling factors that highlight Xencor’s potential for growth and innovation. The promising Phase 1 data for XmAb942, particularly its pharmacokinetic and safety profile, suggests a significant advantage over similar products due to its extended half-life and tolerability. This differentiation is crucial as it allows for a more convenient dosing schedule, which could improve patient adherence and reduce the treatment burden.
Furthermore, Xencor’s robust pipeline, which includes both oncology and autoimmune assets, underscores its strategic position in the biotechnology sector. The company’s Xtend and bispecific T-cell engager platforms have demonstrated efficacy and safety across various indications, reinforcing the long-term value potential. These factors collectively support Newman’s Buy rating and the price target of $38, reflecting confidence in Xencor’s future performance and market position.

In another report released today, Piper Sandler also reiterated a Buy rating on the stock with a $30.00 price target.

Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of XNCR in relation to earlier this year.