Xencor price target lowered to $26 from $31 at Wedbush

Wedbush analyst David Nierengarten lowered the firm’s price target on Xencor (XNCR) to $26 from $31 and keeps an Outperform rating on the shares following quarterly results. The firm notes the nearest data catalyst for shares is initial data for XmAb819 in ccRCC, expected at a medical meeting in Q4 2025. XmAb541 continues in dose escalation for CLDN6+ tumors, with identification of target dose levels anticipated later this year. The Phase 2 XENITH-UC study evaluating TL1A mAb XmAb942 is now underway, enrolling moderate to severe ulcerative colitis patients who progressed on at least one prior conventional or advanced therapy, Wedbush adds.