JP Morgan Chase & Co. Raises Price Target on Xencor to $21

JP Morgan Chase & Co. has upgraded its price target for Xencor (NASDAQ:XNCR) from $14 to $21, indicating a potential downside of over 20% from the stock's current price.

The upgrade comes as JPMorgan Chase & Co.'s brokerage currently maintains a 'neutral' rating on Xencor's stock. This is not the only analyst to raise its price target for Xencor; Raymond James Financial has also increased its target from $40 to $46, giving the company a 'strong-buy' rating.

Other analysts have also weighed in on Xencor's performance, with Weiss Ratings reissuing a 'sell (d-)' rating and Zacks Research raising its rating from 'strong sell' to 'hold'. Cantor Fitzgerald has lifted its target price to $44, giving the stock an 'overweight' rating, while Wedbush increased its target from $26 to $30, assigning an 'outperform' rating.

Xencor's current consensus rating is 'Moderate Buy', with a target price of $30.71 among analysts. The company's revenue was up 17.4% in the last quarter compared to the same period last year, while its earnings per share (EPS) beat analysts' estimates by $0.51.