XNCR Stock Analysis: Xencor | NASDAQ
Biotechnology | NASDAQ, USA | Market Cap: 1.699m USD | 12M Return: 104.1% | US98401F1057 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 31.8M
Qual. Beats: 1
Rev. Trend: -52.0%
Qual. Beats: 1
Warnings
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Xencor, Inc. (XNCR) is a clinical-stage biopharmaceutical company based in Pasadena, California, that engineers monoclonal and bispecific antibodies for cancer and autoimmune diseases. The company was incorporated in 1997 and is listed on NASDAQ, with a small-cap market valuation of approximately $1.77 billion. Its commercial products include Ultomiris (licensed to Alexion/AstraZeneca) and Monjuvi (co-developed with MorphoSys/Incyte), while the bulk of its value is tied to a deep pipeline of wholly owned and partnered drug candidates, including Plamotamab, Obexelimab, and Xaluritamig. The company also licenses its XmAb Fc technology platform to partners such as Novartis, Astellas (ASP2138), and Johnson & Johnson, providing a diversified source of potential milestone and royalty revenue.
As a clinical-stage biotech, Xencor generates modest product-related revenue but typically operates at a net loss, with cash runway funded historically through a mix of equity offerings, partnerships, and milestone payments. The XmAb platform - which modifies the Fc region of antibodies to fine-tune immune engagement, half-life, and stability - is a central element of the business model and underpins both internal programs and external collaborations across therapeutic areas including oncology, infectious disease, and rare immune disorders.
- Plamotamab and XmAb942 Phase 1 data readouts in autoimmune diseases
- Obexelimab BLA filing progress in IgG4-related disease
- Royalty revenue from Ultomiris and Monjuvi drives operating margins
- Pipeline reprioritization reduces cash burn and extends runway
- ASTRO partnership milestones for XmAb819 and Xaluritamig advance
| Net Income: -163.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.03 > 0.02 and ΔFCF/TA 11.34 > 1.0 |
| NWC/Revenue: 420.4% < 20% (prev 254.1%; Δ 166.4% < -1%) |
| CFO/TA -0.28 > 3% & CFO -205.8m > Net Income -163.3m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 6.39 > 1.5 & < 3 |
| Outstanding Shares: last quarter (75.9m) vs 12m ago 2.13% < -2% |
| Gross Margin: 89.99% > 18% (prev 30.17%; Δ 59.82% > 0.5%) |
| Asset Turnover: 13.09% > 50% (prev 18.67%; Δ -5.58% > 0%) |
| Interest Coverage Ratio: -4.94 > 6 (EBIT TTM -133.8m / Interest Expense TTM 27.1m) |
| A: 0.61 (Total Current Assets 523.2m - Total Current Liabilities 81.9m) / Total Assets 725.0m |
| B: -1.31 (Retained Earnings -946.6m / Total Assets 725.0m) |
| C: -0.17 (EBIT TTM -133.8m / Avg Total Assets 802.2m) |
| D: 2.27 (Book Value of Equity 503.2m / Total Liabilities 221.7m) |
| Altman-Z'' = 1.00 = BB |
| DSRI: 1.39 (Receivables 42.2m/47.6m, Revenue 105.0m/164.2m) |
| GMI: 0.34 (GM 30.17% / 89.99%) |
| AQI: 0.52 (AQ_t 0.16 / AQ_t-1 0.31) |
| SGI: 0.64 (Revenue 105.0m / 164.2m) |
| TATA: 0.06 (NI -163.3m - CFO -205.8m) / TA 725.0m) |
| Beneish M = -3.85 (Cap -4..+1) = AAA |
As of October 25, 2026, the stock is trading at USD 25.18 with a total of 1,458,064 shares traded. Over the past week, the price has changed by +10.20%, over one month by +3.79%, over three months by +28.93% and over the past year by +104.05%.
Current recommended Stop Loss: 23.50 (which is 6.7% or 1.3 ATR below the current price).
Xencor has received a consensus analysts rating of 4.50. Therefore, it is recommended to buy XNCR.
- StrongBuy: 9
- Buy: 3
- Hold: 2
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 31.4 | 24.8% |
P/E Forward = 68.0272
P/S = 16.1849
P/B = 3.583
Revenue TTM = 105.0m USD
EBIT TTM = -133.8m USD
EBITDA TTM = -123.6m USD
Long Term Debt = 77.5m USD (from longTermDebt, last quarter)
Short Term Debt = 3.92m USD (from shortTermDebt, last quarter)
Debt = 146.7m USD (corrected: LT Debt 77.5m + ST Debt 3.92m) + Leases 65.2m
Net Debt = -309.8m USD (calculated: Debt 146.7m - CCE 456.5m)
Enterprise Value = 1.39b USD (1.70b + Debt 146.7m - CCE 456.5m)
Interest Coverage Ratio = -4.94 (Ebit TTM -133.8m / Interest Expense TTM 27.1m)
EV/FCF = -56.80x (Enterprise Value 1.39b / FCF TTM -24.5m)
FCF Yield = -1.76% (FCF TTM -24.5m / Enterprise Value 1.39b)
FCF Margin = -23.30% (FCF TTM -24.5m / Revenue TTM 105.0m)
Net Margin = -155.6% (Net Income TTM -163.3m / Revenue TTM 105.0m)
Gross Margin = 89.99% ((Revenue TTM 105.0m - Cost of Revenue TTM 10.5m) / Revenue TTM)
Gross Margin QoQ = none% (prev 43.16%)
Tobins Q-Ratio = 1.92 (Enterprise Value 1.39b / Total Assets 725.0m)
Interest Expense / Debt = 18.46% (Interest Expense 27.1m / Debt 146.7m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -105.7m (EBIT -133.8m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 5.54 (Total Current Assets 523.2m / Total Current Liabilities 94.5m)
Debt / Equity = 0.29 (Debt 146.7m / totalStockholderEquity, last quarter 503.2m)
Debt / EBITDA = 2.51 (negative EBITDA) (Net Debt -309.8m / EBITDA -123.6m)
Debt / FCF = 12.67 (negative FCF - burning cash) (Net Debt -309.8m / FCF TTM -24.5m)
Total Stockholder Equity = 569.9m (last 4 quarters mean from totalStockholderEquity)
RoA = -20.36% (Net Income -163.3m / Total Assets 725.0m)
RoE = -28.66% (Net Income TTM -163.3m / Total Stockholder Equity 569.9m)
RoCE = -20.66% (EBIT -133.8m / Capital Employed (Equity 569.9m + L.T.Debt 77.5m))
RoIC = -16.47% (negative operating profit) (NOPAT -105.7m / Invested Capital 641.8m)
WACC = 9.30% (E(1.70b)/V(1.85b) * Re(8.84%) + D(146.7m)/V(1.85b) * Rd(18.46%) * (1-Tc(0.21)))
Discount Rate = 8.84% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 87.21 | Cagr: 10.00%
[DCF] Fair Price = unknown (Cash Flow -24.5m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 1.03 | # QB: 1
Revenue Correlation: -52.04 | Revenue CAGR: -11.42% | SUE: 1.51 | # QB: 1
EPS current Quarter (2026-09-30): EPS=-0.40 | Chg30d=+0.00% | Revisions=+62% | Analysts=12
EPS current Year (2026-12-31): EPS=-3.15 | Chg30d=+0.00% | Revisions=+50% | GrowthEPS=-154.1% | GrowthRev=+14.1%
EPS next Year (2027-12-31): EPS=-3.56 | Chg30d=-0.21% | Revisions=-50% | GrowthEPS=-12.8% | GrowthRev=-15.1%
[Analyst] Revisions Ratio: +41% (up=14, down=5)