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Xencor (XNCR) Moves 14.3% Higher: Will This Strength Last?

Zacks Equity Research
·2 min read

Xencor (XNCR) shares rallied 14.3% in the last trading session to close at $23.93. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.7% loss over the past four weeks.

The rise in share price can be attributed to positive investor expectations for the company’s pipeline targeting cancer and autoimmune diseases. Xencor’s lead pipeline candidate is vudalimab, which is being developed in separate mid-stage studies for prostate cancer and metastatic lung cancer.

This biotech developing antibodies for severe autoimmune/allergic diseases and cancer is expected to post quarterly loss of $0.76 per share in its upcoming report, which represents a year-over-year change of +25.5%. Revenues are expected to be $23.6 million, up 24.5% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

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For Xencor, the consensus EPS estimate for the quarter has been revised 0.9% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on XNCR going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Xencor is part of the Zacks Medical - Drugs industry. Calliditas Therapeutics AB Sponsored ADR (CALT), another stock in the same industry, closed the last trading session 6.9% higher at $19.94. CALT has returned -6.2% in the past month.

For Calliditas Therapeutics , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.14. This represents a change of +79.1% from what the company reported a year ago. Calliditas Therapeutics currently has a Zacks Rank of #3 (Hold).

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Xencor, Inc. (XNCR) : Free Stock Analysis Report

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Zacks Investment Research