Xencor Inc. (XNCR)
NASDAQ:XNCR
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Xencor
(NASDAQ:XNCR)
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Rating:49Neutral
Price Target:
$15.00
▲(14.85% Upside)
Action:Reiterated
Date:06/19/26
The score is held back primarily by weak financial performance, including declining TTM revenue, very large losses, and significant negative free cash flow. Technicals are a moderate positive with improving momentum and the stock trading above key short- to mid-term moving averages, but valuation remains challenging due to ongoing losses (negative P/E) and no dividend yield provided.
Positive Factors
Antibody engineering platform
Xencor's proprietary XmAb and Xtend Fc engineering create differentiated antibody candidates with higher potency and extended half-life. As a durable competitive advantage, the platform supports repeatable molecule design, attracts partners, and underpins licensing and milestone revenue potential over multiple programs.
Negative Factors
Declining revenue trend
A 22.5% TTM revenue decline indicates weakening partner or recognized revenue and reduces internally available resources to fund R&D. For a clinical-stage biotech, prolonged top-line contraction increases reliance on external financing, which can delay programs, elevate dilution risk, and constrain strategic optionality over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Antibody engineering platform
Xencor's proprietary XmAb and Xtend Fc engineering create differentiated antibody candidates with higher potency and extended half-life. As a durable competitive advantage, the platform supports repeatable molecule design, attracts partners, and underpins licensing and milestone revenue potential over multiple programs.
Read all positive factors
Xencor (XNCR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.12B
Dividend YieldN/A
Average Volume (3M)765.42K
Price to Earnings (P/E)―
Beta (1Y)1.56
Revenue Growth-23.48%
EPS Growth25.73%
CountryUS
Employees250
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-2.29
Shares Outstanding74,141,594
10 Day Avg. Volume876,689
30 Day Avg. Volume765,420
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)1.79
Price to Sales (P/S)9.05
P/FCF Ratio-8.22
Enterprise Value/Market Cap0.99
Enterprise Value/Revenue11.39
Enterprise Value/Gross Profit31.50
Enterprise Value/Ebitda-8.42
Forecast
1Y Price Target
$24.30Price Target Upside86.06% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering11
EPS Forecast (FY)-3.88
Revenue Forecast (FY)$77.44M
Xencor Business Overview & Revenue Model
Company Description
Xencor Inc., a biopharmaceutical firm headquartered in Monrovia, California, and established in 1997, operates as a clinical-stage entity. Its central mission involves the discovery and sophisticated engineering of monoclonal antibody and cytokine...
How the Company Makes Money
Xencor makes money primarily through collaboration and licensing arrangements in which it provides access to its antibody engineering technologies and/or specific drug candidates to partners. Under these agreements, revenue is typically generated ...
Xencor Earnings Call Summary
Earnings Call Date:Feb 27, 2024
(Q4-2023)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The earnings call presented a positive outlook with significant pipeline progress and a strong financial position. However, safety concerns with vudalimab and a strategic pause on XmAb564 development were noted.Positive Updates
Strong Financial Position
Xencor ended 2023 with $697 million, providing runway into 2027 due to robust milestone and royalty revenues.
Negative Updates
Safety Concerns with Vudalimab
One case of Grade 5 immune-related hepatitis was reported, raising safety considerations for the treatment.
Read all updates
Q4-2023 Updates
Positive
Negative
Strong Financial Position
Xencor ended 2023 with $697 million, providing runway into 2027 due to robust milestone and royalty revenues.
Read all positive updates
Company Guidance
During Xencor's fourth-quarter 2023 earnings call, the company provided comprehensive guidance on its clinical pipeline and financial outlook. They highlighted a significant focus on the development of bispecific T-cell engagers for solid tumors, including XmAb819 and XmAb808, with ongoing Phase I studies in renal cell carcinoma and prostate cancer, respectively. Vudalimab, a key candidate, showed promising monotherapy results in heavily pre-treated metastatic castrate-resistant prostate cancer patients, with a RECIST response rate of 35% and a PSA90 rate of 25%. Financially, Xencor bolstered its balance sheet through the partial monetization of Ultomiris and Monjuvi royalties, ending 2023 with $697 million, ensuring operational runway until 2027. The company's 2024 priorities include advancing its solid tumor bispecific programs and selecting the next IND candidate, while maintaining a strategic focus on T-cell engager discovery and development.Xencor Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
64
Positive
Cash Flow
31
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 97.36M | 125.58M | 110.49M | 174.62M | 164.58M | 275.11M |
| Gross Profit | 35.20M | 115.06M | -117.19M | 174.62M | -34.98M | 82.60M |
| EBITDA | -131.66M | -46.98M | -186.17M | -101.96M | -45.70M | 90.14M |
| Net Income | -172.42M | -91.92M | -232.62M | -133.13M | -55.18M | 82.63M |
Balance Sheet | ||||||
| Total Assets | 736.85M | 875.50M | 951.95M | 952.69M | 846.27M | 838.21M |
| Cash, Cash Equivalents and Short-Term Investments | 444.95M | 547.73M | 497.77M | 593.73M | 623.06M | 334.11M |
| Total Debt | 175.16M | 187.75M | 231.95M | 83.43M | 59.63M | 33.97M |
| Total Liabilities | 221.21M | 239.91M | 277.92M | 283.56M | 118.77M | 104.71M |
| Stockholders Equity | 515.63M | 635.59M | 677.61M | 668.80M | 727.50M | 733.50M |
Cash Flow | ||||||
| Free Cash Flow | -188.84M | -138.27M | -208.28M | -96.37M | -18.92M | -32.83M |
| Operating Cash Flow | -186.53M | -135.12M | -202.19M | -77.93M | 24.48M | -16.85M |
| Investing Cash Flow | 152.99M | 139.99M | -7.87M | -110.56M | -119.72M | -46.25M |
| Financing Cash Flow | 7.93M | 8.23M | 197.15M | 188.72M | 5.70M | 43.04M |
Xencor Technical Analysis
Positive
13.06
Price Trends
12.37
Positive
12.18
Positive
13.02
Positive
Market Momentum
0.70
Negative
75.26
Negative
84.79
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For XNCR, the sentiment is Positive. The current price of 13.06 is above the 20-day moving average (MA) of 12.59, above the 50-day MA of 12.37, and above the 200-day MA of 13.02, indicating a bullish trend. The MACD of 0.70 indicates Negative momentum. The RSI at 75.26 is Negative, neither overbought nor oversold. The STOCH value of 84.79 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for XNCR.
Xencor Risk Analysis
Xencor disclosed 56 risk factors in its most recent earnings report. Xencor reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Xencor Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $1.61B | -8.57 | -44.72% | ― | -15.35% | 37.09% | |
57 Neutral | $428.51M | -1.48 | -128.53% | ― | 928.46% | -21.39% | |
55 Neutral | $5.21B | -866.82 | -1.78% | ― | -79.52% | -43.40% | |
52 Neutral | $4.04B | -11.82 | -43.94% | ― | 39.04% | 29.88% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $1.12B | -6.57 | -28.77% | ― | -23.48% | 25.73% | |
45 Neutral | $1.99B | -11.31 | -48.84% | ― | -83.20% | -439.48% |
* Healthcare Sector Average
XNCR
Xencor
15.05
7.19
91.48%
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RLAY
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MRVI
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Xencor Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Xencor Shareholders Approve Directors, Incentive Plan Amendments
Positive
Jun 18, 2026
At its June 16, 2026 annual meeting, Xencor, Inc. reported robust shareholder participation, with approximately 86.26% of outstanding common shares represented, and stockholders elected nine directors to serve until the 2027 meeting. Investors als...
Business Operations and StrategyProduct-Related Announcements
Xencor Highlights TL1A Autoimmune Portfolio and IBD Strategy
Positive
May 5, 2026
On May 5, 2026, Xencor held a conference call to discuss data on its TL1A-focused autoimmune portfolio, highlighting final Phase 1 results for XmAb942 in healthy participants and preclinical characterization of bispecific candidate XmAb412 present...
Business Operations and StrategyExecutive/Board Changes
Xencor Adopts Executive Severance Policy to Support Retention
Positive
Apr 27, 2026
On April 23, 2026, Xencor, Inc. adopted an Executive Severance Policy covering certain senior executives, including its named executive officers other than the chief executive. The policy provides that, if an eligible executive signs a participati...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.