(XNCR) Xencor - NASDAQ
Sector: Healthcare | Industry: Biotechnology | Exchange: NASDAQ (USA) | Market Cap: 937m USD | Total Return: 79.2% in 12m
Avg Turnover: 9.74M
Qual. Beats: -1
Rev. Trend: -21.5%
Qual. Beats: -1
Warnings
Interest Coverage Ratio -5.1 is critical
Altman Z'' 0.84 < 1.0 - financial distress zone
Extended 1w Volatile
Tailwinds
No distinct edge detected
Xencor, Inc. (NASDAQ: XNCR) is a clinical-stage biopharmaceutical company headquartered in Pasadena, California, founded in 1997. The company focuses on the discovery and development of engineered antibody therapeutics for the treatment of cancer and autoimmune diseases, and is classified in the GICS Health Care / Biotechnology sub-industry with a small-cap market capitalization of approximately $937 million.
The companys pipeline is broad and diversified, spanning multiple antibody formats including bispecific T-cell engagers, bispecific antibodies targeting tumor antigens, and Fc-engineered antibodies. Clinical candidates target a range of indications such as renal cell carcinoma, ovarian cancer, prostate cancer, B-cell malignancies, Crohns disease, ulcerative colitis, rheumatoid arthritis, and idiopathic inflammatory myopathies. Several programs are being advanced in collaboration with larger pharmaceutical partners including Novartis, Johnson & Johnson, and Astellas, indicating a partnership-driven development model that helps share clinical risk and funding obligations.
As a clinical-stage biotech, Xencor has not yet established a self-sustaining commercial revenue base from its own approved products. Companies in this segment typically rely on a combination of out-licensed royalties, milestone payments from collaborators, and periodic capital markets financing to fund ongoing research and clinical trials, with revenue often lumpy and dependent on partnership events rather than recurring product sales.
- Obexelimab and Xaluritamig Phase II data readouts approach
- Novartis J&J Astellas partnerships generate milestone payments
- Cash runway remains tight amid rising clinical-stage R&D burn
| Net Income: -172.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.04 > 0.02 and ΔFCF/TA 13.81 > 1.0 |
| NWC/Revenue: 420.5% < 20% (prev 314.8%; Δ 105.7% < -1%) |
| CFO/TA -0.25 > 3% & CFO -186.5m > Net Income -172.4m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 6.57 > 1.5 & < 3 |
| Outstanding Shares: last quarter (75.2m) vs 12m ago 2.14% < -2% |
| Gross Margin: 36.15% > 18% (prev 16.37%; Δ 19.78% > 0.5%) |
| Asset Turnover: 11.86% > 50% (prev 15.20%; Δ -3.34% > 0%) |
| Interest Coverage Ratio: -5.08 > 6 (EBIT TTM -142.0m / Interest Expense TTM 28.0m) |
| A: 0.56 (Total Current Assets 482.9m - Total Current Liabilities 73.5m) / Total Assets 736.8m |
| B: -1.26 (Retained Earnings -924.9m / Total Assets 736.8m) |
| C: -0.17 (EBIT TTM -142.0m / Avg Total Assets 820.8m) |
| D: 2.33 (Book Value of Equity 515.6m / Total Liabilities 221.2m) |
| Altman-Z'' = 0.84 = B |
| DSRI: 0.45 (Receivables 12.0m/37.8m, Revenue 97.4m/137.5m) |
| GMI: 0.45 (GM 16.37% / 36.15%) |
| AQI: 0.71 (AQ_t 0.22 / AQ_t-1 0.32) |
| SGI: 0.71 (Revenue 97.4m / 137.5m) |
| TATA: 0.02 (NI -172.4m - CFO -186.5m) / TA 736.8m) |
| Beneish M = -4.36 (Cap -4..+1) = AAA |
As of June 27, 2026, the stock is trading at USD 15.05 with a total of 1,981,661 shares traded. Over the past week, the price has changed by +19.07%, over one month by +29.41%, over three months by +22.26% and over the past year by +79.17%.
Current recommended Stop Loss: 14.10 (which is 6.3% 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: 8
- Buy: 3
- Hold: 0
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 28.5 | 89.4% |
P/E Forward = 68.0272
P/S = 9.6256
P/B = 1.8175
Revenue TTM = 97.4m USD
EBIT TTM = -142.0m USD
EBITDA TTM = -131.7m USD
Long Term Debt = 82.1m USD (from longTermDebt, last quarter)
Short Term Debt = 30.4m USD (from shortTermDebt, last quarter)
Debt = 241.8m USD (from shortLongTermDebtTotal, last quarter) + Leases 66.6m
Net Debt = -203.2m USD (calculated: Debt 241.8m - CCE 444.9m)
Enterprise Value = 734.0m USD (937.1m + Debt 241.8m - CCE 444.9m)
Interest Coverage Ratio = -5.08 (Ebit TTM -142.0m / Interest Expense TTM 28.0m)
EV/FCF = -23.20x (Enterprise Value 734.0m / FCF TTM -31.6m)
FCF Yield = -4.31% (FCF TTM -31.6m / Enterprise Value 734.0m)
FCF Margin = -32.50% (FCF TTM -31.6m / Revenue TTM 97.4m)
Net Margin = -177.1% (Net Income TTM -172.4m / Revenue TTM 97.4m)
Gross Margin = 36.15% ((Revenue TTM 97.4m - Cost of Revenue TTM 62.2m) / Revenue TTM)
Gross Margin QoQ = 43.16% (prev 90.87%)
Tobins Q-Ratio = 1.00 (Enterprise Value 734.0m / Total Assets 736.8m)
Interest Expense / Debt = 11.56% (Interest Expense 28.0m / Debt 241.8m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -112.2m (EBIT -142.0m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 5.93 (Total Current Assets 482.9m / Total Current Liabilities 81.4m)
Debt / Equity = 0.47 (Debt 241.8m / totalStockholderEquity, last quarter 515.6m)
Debt / EBITDA = 1.54 (negative EBITDA) (Net Debt -203.2m / EBITDA -131.7m)
Debt / FCF = 6.42 (negative FCF - burning cash) (Net Debt -203.2m / FCF TTM -31.6m)
Total Stockholder Equity = 599.2m (last 4 quarters mean from totalStockholderEquity)
RoA = -21.01% (Net Income -172.4m / Total Assets 736.8m)
RoE = -28.77% (Net Income TTM -172.4m / Total Stockholder Equity 599.2m)
RoCE = -20.85% (EBIT -142.0m / Capital Employed (Equity 599.2m + L.T.Debt 82.1m))
RoIC = -16.29% (negative operating profit) (NOPAT -112.2m / Invested Capital 689.0m)
WACC = 10.51% (E(937.1m)/V(1.18b) * Re(10.87%) + D(241.8m)/V(1.18b) * Rd(11.56%) * (1-Tc(0.21)))
Discount Rate = 10.87% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 91.11 | Cagr: 9.90%
[DCF] Fair Price = unknown (Cash Flow -31.6m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -2.69 | # QB: -1
Revenue Correlation: -21.50 | Revenue CAGR: -4.72% | SUE: -1.15 | # QB: -1
EPS current Quarter (2026-06-30): EPS=-0.83 | Chg30d=-9.33% | Revisions=-14% | Analysts=11
EPS next Quarter (2026-09-30): EPS=-0.82 | Chg30d=-6.93% | Revisions=-14% | Analysts=11
EPS current Year (2026-12-31): EPS=-3.99 | Chg30d=+0.00% | Revisions=-62% | GrowthEPS=-222.1% | GrowthRev=-41.8%
EPS next Year (2027-12-31): EPS=-3.56 | Chg30d=+0.00% | Revisions=-47% | GrowthEPS=+10.9% | GrowthRev=+51.2%
[Analyst] Revisions Ratio: -62%