Raymond James Upgrades Xencor, Inc. (XNCR) to Outperform
- Wall Street rises as big banks kick off earnings season
- JPMorgan (JPM) Reports a Q1 Beat on Revenue and Profit Fueled by Release of $5.2 Billion Reserved for Bad Loans; Shares Slightly Down
- Coinbase (COIN) direct listing IPO reference price set at $250
- Federal Bureau of Prisons says Ponzi schemer Bernard Madoff has passed away
- Goldman Sachs (GS) Q1 EPS Nearly Doubles Wall Street's View as Investment Banking Excels Amid SPAC and IPO Frenzy
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Raymond James analyst Dane Leone upgraded Xencor, Inc. (NASDAQ: XNCR) from Market Perform to Outperform with a price target of $58.00.
The analyst comments "We are upgrading our recommendation of Xencor from Market Perform to Outperform and establishing a $58 price target. Our thesis is predicated on three key points: 1) combination of plamotamab plus Monjuvi creates a direct commercial angle within an increasingly crowded field of CD20 bispecific antibodies; 2) the XmAb306 (IL-15) program in partnership with Genentech is not currently reflected within valuation and could be nearing disclosure of initial clinical data during 2021; and 3) the validated protein engineering platform funded by royalties provides capital efficient optionality for earlier programs within oncology and immunology. The historical overhang on the stock has centered around the internal pipeline and willingness to move ahead as a clinical stage biotech, both of which we anticipate being removed as headwinds during 2021."
Shares of Xencor, Inc. closed at $48.35 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: JPMorgan Upgrades JetBlue Airways (JBLU) to Overweight
- UPDATE: KeyBanc Starts Denbury Inc. (DEN) at Overweight as the Only E&P with Negative Carbon Footprint
- UPDATE: JPMorgan Upgrades Southwest (LUV) to Neutral
Create E-mail Alert Related CategoriesAnalyst Comments, Hot Comments, Hot Upgrades, Upgrades
Related EntitiesRaymond James
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!