Analyst Etzer Darout of BMO Capital reiterated a Buy rating on Xencor (XNCR – Research Report), with a price target of $34.00.
Etzer Darout’s rating is based on Xencor’s strategic focus on advancing its internal pipeline, particularly in the fields of autoimmune and oncology. The company is making significant progress with its XmAb942 and XmAb819 programs, targeting inflammatory bowel disease and renal cell carcinoma, respectively. These initiatives demonstrate Xencor’s commitment to developing potentially best-in-class therapies with improved potency and dosing schedules.
Additionally, Xencor’s robust financial position, with a cash runway extending into 2028, supports its ongoing research and development efforts. The company’s ability to leverage its technology platform through out-licensing deals further enhances its growth potential. These factors, combined with a durable royalty stream and multiple clinical programs, provide a strong foundation for expected share appreciation over the next 12-18 months.
In another report released today, Piper Sandler also reiterated a Buy rating on the stock with a $30.00 price target.
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