Xencor (XNCR) AI Stock Analysis

• Market Cap: $1.18B
• Dividend Yield: N/A
• Average Volume (3M): 1.33M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.67
• Revenue Growth: 38.16%
• EPS Growth: 48.43%
• Country: US
• Employees: 250
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.08
• Shares Outstanding: 71,410,470
• 10 Day Avg. Volume: 1,564,719
• 30 Day Avg. Volume: 1,334,755
• PEG Ratio: -0.09
• Price to Book (P/B): 2.21
• Price to Sales (P/S): 13.53
• P/FCF Ratio: -7.18
• Enterprise Value/Market Cap: 0.30
• Enterprise Value/Revenue: 2.11
• Enterprise Value/Gross Profit: 2.18
• Enterprise Value/Ebitda: -5.15
• 1Y Price Target: $27.13
• Price Target Upside: 71.71% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 11
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 59 Neutral
• Price Target: $18.50 ▲(17.09% Upside)

Xencor's overall stock score is driven by strong technical analysis and positive corporate events, indicating potential growth in its oncology pipeline. However, financial performance and valuation concerns, particularly negative profitability and a negative P/E ratio, weigh down the score.

Positive Factors

Patent Extension

The extended patent protection for the Xtend Fc domain strengthens Xencor's competitive position, ensuring longer-term revenue from royalties.

Pipeline Progress

Successful Phase 1 results for XmAb819 and XmAb541 enhance Xencor's oncology pipeline, potentially leading to future revenue growth and market expansion.

Revenue Growth

Consistent revenue growth indicates strong demand for Xencor's technology and partnerships, supporting long-term business sustainability.

Negative Factors

Profitability Challenges

Ongoing profitability issues could hinder Xencor's ability to reinvest in R&D and limit financial flexibility, impacting long-term growth.

Cash Flow Issues

Weak cash flow performance may affect Xencor's liquidity and ability to fund operations and future projects, posing a risk to sustainability.

Revenue Miss

Missing revenue expectations highlights potential issues in execution or market conditions, which could affect investor confidence and future growth.

Xencor Business Overview & Revenue Model

Company Description

Xencor (XNCR) is a biopharmaceutical company focused on developing innovative antibody therapeutics for the treatment of cancer and autoimmune diseases. The company specializes in its proprietary XmAb technology platform, which enables the creation of next-generation monoclonal antibodies with enhanced efficacy and reduced side effects. Xencor's pipeline includes various clinical-stage candidates that target specific disease mechanisms, aiming to provide better treatment options for patients.

How the Company Makes Money

Xencor generates revenue primarily through partnerships and collaborations with other pharmaceutical companies, whereby it licenses its proprietary XmAb technology for the development of new therapeutics. These partnerships often involve upfront payments, milestone payments as the partnered products progress through clinical development, and royalties on future sales. In addition, Xencor may also receive research funding from partners to support the development of collaborative projects. The company's revenue model is heavily reliant on the success of its clinical trials and the commercialization of its partnered products.

Xencor Financial Statement Overview

Summary

Xencor's financial performance is mixed. While there is a positive revenue growth rate of 19.38%, the company struggles with profitability, as indicated by negative net profit and EBIT margins. The balance sheet is strong with low leverage, but cash flow issues persist, impacting liquidity.

Income Statement

Xencor's income statement shows a mixed performance. The company has experienced a positive revenue growth rate of 19.38% TTM, indicating potential growth. However, profitability metrics such as the net profit margin and EBIT margin are negative, reflecting ongoing challenges in achieving profitability. The gross profit margin remains high, suggesting efficient cost management at the gross level, but the negative net profit margin highlights significant expenses or losses further down the income statement.

Balance Sheet

The balance sheet reveals a relatively low debt-to-equity ratio of 0.11 TTM, indicating conservative leverage and a strong equity position. However, the return on equity is negative, suggesting that the company is not currently generating positive returns on its equity investments. The equity ratio is stable, reflecting a solid capital structure, but the negative ROE indicates challenges in profitability.

Cash Flow

Xencor's cash flow statement shows a decline in free cash flow growth by -18.63% TTM, which is concerning for future liquidity. The operating cash flow to net income ratio is negative, indicating that the company is not generating sufficient cash from operations relative to its net losses. The free cash flow to net income ratio is slightly above 1, suggesting some ability to cover net losses with free cash flow, but overall cash flow performance remains weak.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	167.36M	110.49M	174.62M	164.58M	275.11M	122.69M
Gross Profit	162.01M	110.49M	174.62M	164.58M	275.11M	-47.11M
EBITDA	-68.56M	-186.17M	-101.96M	-45.70M	90.14M	-71.00M
Net Income	-138.75M	-232.62M	-133.13M	-55.18M	82.63M	-69.33M
Balance Sheet
Total Assets	868.81M	951.95M	952.69M	846.27M	838.21M	703.24M
Cash, Cash Equivalents and Short-Term Investments	471.04M	497.77M	593.73M	623.06M	334.11M	603.00M
Total Debt	202.41M	231.95M	83.43M	59.63M	33.97M	11.63M
Total Liabilities	243.50M	277.92M	283.56M	118.77M	104.71M	130.80M
Stockholders Equity	625.32M	677.61M	668.80M	727.50M	733.50M	572.44M
Cash Flow
Free Cash Flow	-143.67M	-208.28M	-96.37M	-18.92M	-32.83M	-18.77M
Operating Cash Flow	-138.98M	-202.19M	-77.93M	24.48M	-16.85M	-5.00M
Investing Cash Flow	124.34M	-7.87M	-110.56M	-119.72M	-46.25M	100.19M
Financing Cash Flow	13.80M	197.15M	188.72M	5.70M	43.04M	18.04M

Xencor Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 15.80
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For XNCR, the sentiment is Neutral. The current price of 15.8 is below the 20-day moving average (MA) of 16.78, above the 50-day MA of 15.16, and above the 200-day MA of 10.86, indicating a neutral trend. The MACD of 0.46 indicates Positive momentum. The RSI at 47.42 is Neutral, neither overbought nor oversold. The STOCH value of 13.18 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for XNCR.

Xencor Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
STOK	70 Outperform	$1.92B	49.80	15.02%	―	1128.17%	―
DNTH	61 Neutral	$1.78B	-11.86	-28.57%	―	-42.64%	-39.78%
XNCR	59 Neutral	$1.18B	-8.90	-19.61%	―	38.16%	48.43%
RLAY	59 Neutral	$1.47B	-4.59	-41.14%	―	-16.50%	33.02%
AUTL	55 Neutral	$425.83M	-1.85	-60.52%	―	407.86%	30.35%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
MRVI	49 Neutral	$917.99M	-4.10	-41.06%	―	-30.56%	48.79%

Xencor Corporate Events

Xencor Reports Initial Results from Phase 1 Studies

On October 24, 2025, Xencor, Inc. held a conference call to discuss initial results from its ongoing Phase 1 dose-escalation study of XmAb819, a bispecific T-cell engager for advanced clear cell renal cell carcinoma. The company also shared early data from the Phase 1 study of XmAb541 for ovarian cancer and germ cell tumors. These developments highlight Xencor’s continued progress in its oncology pipeline, potentially enhancing its competitive position in the market by advancing novel therapeutic candidates.