Xencor, Inc.

NasdaqGM:XNCR Stock Report

Market Cap: US$831.9m

Xencor Future Growth

Future criteria checks 2/6

Xencor is forecast to grow earnings and revenue by 6.2% and 34.5% per annum respectively while EPS is expected to grow by 13% per annum.

Key information

6.2%

Earnings growth rate

13.01%

EPS growth rate

Biotechs earnings growth25.2%
Revenue growth rate34.5%
Future return on equityn/a
Analyst coverage

Good

Last updated11 May 2026

Recent future growth updates

Analysis Article • Nov 10

Xencor, Inc. (NASDAQ:XNCR) Just Reported And Analysts Have Been Cutting Their Estimates

Shareholders of Xencor, Inc. ( NASDAQ:XNCR ) will be pleased this week, given that the stock price is up 11% to...

Recent updates

Analysis Article • May 11

These Analysts Just Made A Huge Downgrade To Their Xencor, Inc. (NASDAQ:XNCR) EPS Forecasts

One thing we could say about the analysts on Xencor, Inc. ( NASDAQ:XNCR ) - they aren't optimistic, having just made a...
Narrative Update • May 02

XNCR: Refined Q4 Assumptions And Regulatory Shifts Will Drive Future Repricing

Analysts have kept Xencor's fair value estimate steady at $43.00, while modestly adjusting assumptions for discount rate, revenue growth, profit margin, and future P/E after recent research. This research includes a $1 price target increase to $27 from $26.00, alongside a downgrade based on expectations for fewer near term catalysts.
Narrative Update • Apr 18

XNCR: Mixed Catalyst Outlook And Regulatory Shifts Will Shape Future Repricing

Analysts have increased their price target on Xencor by $1 to $27, citing updated models after the Q4 report, even as some see limited near term catalysts to significantly change the story. Analyst Commentary Recent research on Xencor reflects a more cautious tone, with some high profile firms highlighting limited catalysts and execution risk, even as models are refreshed following the Q4 report.
Narrative Update • Apr 03

XNCR: T Cell Engagers And Mixed Catalyst Outlook Will Shape Multi Year Repricing

Narrative Update The analyst fair value estimate for Xencor has been reset from $18.00 to $13.00 as analysts factor in a lack of near term, needle moving catalysts highlighted in recent research, along with updated models following the Q4 report and sector wide reassessments of U.S. biopharmaceutical valuations. Analyst Commentary Recent Street research on Xencor reflects a mix of views, and the reset in fair value has been driven mainly by more cautious commentary around the near term outlook and the timing of impactful catalysts.
Narrative Update • Mar 20

XNCR: Sector Tailwinds And T Cell Engagers Will Drive Multi Year Repricing

Analysts have nudged their Xencor models after recent sector-wide updates and the latest Q4 report, with Street price targets moving into a roughly $20 to $27 range. The internal fair value anchor in this framework holds near $18, reflecting tempered revenue and margin assumptions offset by supportive biopharma sentiment.
Narrative Update • Mar 06

XNCR: Reset Pipeline Milestones And Sector Tailwinds Will Drive Repricing

Analysts have raised their Xencor fair value estimate from $40.00 to $43.00, reflecting refreshed models and higher Street price targets, including recent moves to $27 and $20, supported by updated company assumptions and broader biotech sector drivers cited in recent research. Analyst Commentary Recent Street research on Xencor points to a more constructive stance on the stock, with bullish analysts revisiting their models after the latest quarterly update and broader sector checks.
Narrative Update • Feb 20

XNCR: T Cell Engagers In Solid Tumors Will Drive Multi Year Repricing

Analysts raised their Xencor price target to $20 from $17, citing an improving environment for U.S. biotech funding and deal activity, as well as greater market recognition of recent positive data catalysts. Analyst Commentary Recent commentary around Xencor frames the higher US$20 price target within a broader reassessment of U.S. biopharmaceutical names.
Analysis Article • Feb 13

Xencor, Inc. (NASDAQ:XNCR) Shares Could Be 28% Below Their Intrinsic Value Estimate

Key Insights Xencor's estimated fair value is US$16.09 based on 2 Stage Free Cash Flow to Equity Xencor's US$11.62...
Narrative Update • Feb 06

XNCR: Constructive Biopharma Backdrop Will Support Future Oncology Upside

Narrative Update Analysts have nudged their 12 month price target for Xencor higher from US$17 to US$20, citing a more constructive backdrop for U.S. biopharmaceuticals, improving access to capital, supportive M&A activity, and recent positive data catalysts now being reflected in valuations. Analyst Commentary Recent commentary around Xencor centers on how it fits into a broader recovery in U.S. biopharmaceuticals, with the new US$20 price target reflecting both improved sector conditions and ongoing uncertainty about how durable these supports will be.
Narrative Update • Jan 23

XNCR: T Cell Engagers And TL1A Pipeline Will Drive Multi Year Repricing

Analysts have nudged their price targets on Xencor higher to a range of US$20 to US$42, pointing to positive recent data readouts, a more constructive view on the T cell engager and TL1A pipeline, and a generally more supportive biotech funding backdrop. Analyst Commentary Recent Street research on Xencor clusters around a more constructive view of its T cell engager and TL1A programs, but opinions are not uniformly bullish.
Narrative Update • Jan 08

XNCR: T Cell Engager Pipeline Progress Will Drive Multi Year Repricing Potential

Narrative Update Analysts have lifted their Xencor fair value estimate from US$8.67 to US$18.00. This change reflects higher Street price targets in the US$20 to US$42 range and growing confidence in the company's T cell engager pipeline following recent data updates and conference presentations.
Seeking Alpha • Jan 01

Xencor: Fortress Balance Sheet Bodes Well For XmAb819 And XmAb942

Summary XNCR pairs a wholly owned antibody pipeline with XmAb platform partnerships. This way, they get milestones, licensing revenue, and royalties. This approach lets them partially fund their internal R&D. But on top of that, XNCR has ample liquid resources it can tap into as needed. XNCR’s lead immunology asset XmAb942 is in Phase 2b for ulcerative colitis. And this candidate could help validate their ability to advance late-stage assets internally. Management also believes that RCC spending is concentrated in a few branded therapies. This could prove an interesting opportunity for their platform. Thus, I feel XNCR offers compelling upside potential with its drug candidates for long-term investors, despite its inherent early-stage and partner risks. Read the full article on Seeking Alpha
Narrative Update • Dec 18

XNCR: Advancing T Cell Engagers Will Drive Future Oncology Upside

We are nudging our Xencor fair value estimate slightly higher to $28.25 from $28.00, reflecting analysts' increased price targets and improved sentiment around the company's T cell engager and TL1A antibody programs following encouraging early stage data and clearer late stage development visibility. Analyst Commentary Recent Street research reflects a constructive but still risk balanced view on Xencor, with multiple firms lifting price targets as they factor in stronger T cell engager data and growing conviction in the TL1A program, while still highlighting execution and clinical readout risks that could impact long term value realization.
Narrative Update • Dec 04

XNCR: Advancing T Cell Engager Pipeline Will Drive Future Upside Potential

Xencor's analyst price target has inched higher to about $28.00 from roughly $27.91, as analysts factor in stronger long term value from the company's advancing T cell engager and TL1A antibody programs, despite modest tweaks to growth and margin assumptions. Analyst Commentary Recent Street research reflects a generally improving stance on Xencor, with several bullish analysts lifting price targets as confidence grows in the company’s T cell engager and TL1A programs, while more cautious voices continue to emphasize execution and clinical risk.
Analysis Article • Nov 25

There's No Escaping Xencor, Inc.'s (NASDAQ:XNCR) Muted Revenues Despite A 27% Share Price Rise

Xencor, Inc. ( NASDAQ:XNCR ) shares have continued their recent momentum with a 27% gain in the last month alone...
Narrative Update • Nov 20

XNCR: Advancing Late-Stage Antibody Programs Will Drive Upside Into 2025

The analyst price target for Xencor edged higher to $27.91 from $27.64 after analysts cited improved revenue growth outlook and progress across key clinical programs. Analyst Commentary Recent Street research on Xencor reflects a range of views, with several analysts updating their models and outlooks following new data from clinical programs and company updates.
Narrative Update • Nov 05

XNCR: Positive Early Oncology Data Will Accelerate Future Upside Potential

Xencor's analyst price target has increased from $25.73 to $27.64, with analysts citing positive pipeline updates and an improved outlook on novel oncology programs as drivers of the higher valuation. Analyst Commentary Analyst sentiment on Xencor has shifted notably in recent months, reflecting emerging data from clinical studies and evolving perspectives on the company's future growth potential.
Narrative Update • Oct 22

Analysts Weigh Xencor Pipeline Progress as Price Targets Inch Higher on Positive Data

The analyst price target for Xencor has increased modestly, rising by $0.18 per share as analysts cite encouraging initial data for its XmAb819 therapy and a slightly improved outlook on pipeline progress, despite ongoing development challenges. Analyst Commentary Recent Street research provides a mixed outlook on Xencor, reflecting both optimism around its emerging therapies and caution due to the company's ongoing development challenges and market execution risks.
Narrative Update • Oct 08

IBD Biologics And TL1A Programs Will Forge New Paths

Analysts have raised their price target for Xencor from $24.10 to $25.55 per share. This reflects moderate optimism despite concerns around limited near-term catalysts and extended development timelines described in recent research commentary.
Analysis Article • Sep 25

There's No Escaping Xencor, Inc.'s (NASDAQ:XNCR) Muted Revenues Despite A 31% Share Price Rise

Xencor, Inc. ( NASDAQ:XNCR ) shareholders have had their patience rewarded with a 31% share price jump in the last...
Analysis Article • Sep 18

Health Check: How Prudently Does Xencor (NASDAQ:XNCR) Use Debt?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Narrative Update • Aug 22

IBD Biologics And TL1A Programs Will Forge New Paths

Analysts have reduced their price target for Xencor to $25.20 amid optimism for key pipeline assets but tempered by concerns over limited data, lack of near-term catalysts, and execution speed. Analyst Commentary Stock price seen as undervaluing Xencor's three main business pillars: IBD franchise led by '942, immunology efforts led by plamotamab, and the oncology bispecific platform.
Analysis Article • Aug 06

Xencor, Inc.'s (NASDAQ:XNCR) Price Is Right But Growth Is Lacking

NasdaqGM:XNCR 1 Year Share Price vs Fair Value Explore Xencor's Fair Values from the Community and select yours With a...
User avatar
New Narrative • Jul 06

IBD Biologics And TL1A Programs Will Forge New Paths

Differentiated drug design and flexible development platform position Xencor for increased patient adoption, operational efficiency, and attractive long-term profitability.
Analysis Article • Apr 26

Is Xencor (NASDAQ:XNCR) A Risky Investment?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Analysis Article • Mar 30

Xencor, Inc. (NASDAQ:XNCR) Shares May Have Slumped 27% But Getting In Cheap Is Still Unlikely

To the annoyance of some shareholders, Xencor, Inc. ( NASDAQ:XNCR ) shares are down a considerable 27% in the last...
Analysis Article • Feb 04

Some Confidence Is Lacking In Xencor, Inc. (NASDAQ:XNCR) As Shares Slide 27%

Xencor, Inc. ( NASDAQ:XNCR ) shares have had a horrible month, losing 27% after a relatively good period beforehand...
Seeking Alpha • Jan 30

Xencor: Substantial Promise, Slow Progress

Summary Today, I revisit Xencor, Inc., a developmental biotech concern for the first time since 2017. The company is advancing a diverse pipeline that consists of both licensed and wholly owned candidates. Xencor has a strong cash position, projecting $707 million in cash and marketable securities by year-end, bolstered by a recent $200 million secondary offering. Xencor's pipeline has some significant promise, but progress has been notably slow over the years. An updated analysis around Xencor follows in the paragraphs below. Read the full article on Seeking Alpha
Analysis Article • Dec 31

Is Xencor (NASDAQ:XNCR) Using Too Much Debt?

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Analysis Article • Dec 03

Xencor, Inc.'s (NASDAQ:XNCR) 26% Share Price Surge Not Quite Adding Up

Despite an already strong run, Xencor, Inc. ( NASDAQ:XNCR ) shares have been powering on, with a gain of 26% in the...
Analysis Article • Nov 10

Xencor, Inc. (NASDAQ:XNCR) Just Reported And Analysts Have Been Cutting Their Estimates

Shareholders of Xencor, Inc. ( NASDAQ:XNCR ) will be pleased this week, given that the stock price is up 11% to...
Seeking Alpha • Sep 12

Xencor: Vudalimab Development Along With Hidden Gem Candidate

Summary Monotherapy and combination dose cohort data from the phase 2 study, using vudalimab for the treatment of patients with mCRPC, expected 1st half of 2025. The global metastatic castrate-resistant prostate cancer treatment market size is projected to reach $20.70 billion by 2031. XmAb942 is a candidate in the company's pipeline which has the potential to become the best in class anti-TL1A inhibitor for the treatment of autoimmune disorders like UC and CD. The global market for inflammatory bowel disease is expected to cross $30 billion by 2031. Read the full article on Seeking Alpha
Analysis Article • Sep 12

Xencor, Inc.'s (NASDAQ:XNCR) 34% Share Price Surge Not Quite Adding Up

Xencor, Inc. ( NASDAQ:XNCR ) shareholders are no doubt pleased to see that the share price has bounced 34% in the last...
Analysis Article • Sep 06

Calculating The Fair Value Of Xencor, Inc. (NASDAQ:XNCR)

Key Insights The projected fair value for Xencor is US$16.92 based on 2 Stage Free Cash Flow to Equity With US$16.32...
Analysis Article • Jul 13

Does Xencor (NASDAQ:XNCR) Have A Healthy Balance Sheet?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analysis Article • Jun 16

Lacklustre Performance Is Driving Xencor, Inc.'s (NASDAQ:XNCR) Low P/S

You may think that with a price-to-sales (or "P/S") ratio of 7.8x Xencor, Inc. ( NASDAQ:XNCR ) is a stock worth...
Analysis Article • Mar 27

Is Xencor (NASDAQ:XNCR) Weighed On By Its Debt Load?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Analysis Article • Feb 27

There's No Escaping Xencor, Inc.'s (NASDAQ:XNCR) Muted Revenues Despite A 29% Share Price Rise

Despite an already strong run, Xencor, Inc. ( NASDAQ:XNCR ) shares have been powering on, with a gain of 29% in the...
Seeking Alpha • Feb 03

Xencor: Standing Out With XmAb Technology

Summary Xencor demonstrates strong YoY revenue growth through achieved milestones with major industry partners. The strategic sale of royalty interests strengthens Xencor's balance sheet and provides flexibility for future strategic moves. Xencor's pipeline developments and clinical trials show a focus on promising therapies in oncology and autoimmune diseases. Read the full article on Seeking Alpha
Analysis Article • Jan 05

Xencor, Inc.'s (NASDAQ:XNCR) Business And Shares Still Trailing The Industry

You may think that with a price-to-sales (or "P/S") ratio of 9.3x Xencor, Inc. ( NASDAQ:XNCR ) is a stock worth...
Analysis Article • Nov 13

Xencor, Inc. (NASDAQ:XNCR) Analysts Just Cut Their EPS Forecasts Substantially

One thing we could say about the analysts on Xencor, Inc. ( NASDAQ:XNCR ) - they aren't optimistic, having just made a...
Analysis Article • Nov 10

Companies Like Xencor (NASDAQ:XNCR) Are In A Position To Invest In Growth

There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although Amazon.com...
Analysis Article • Aug 08

Party Time: Brokers Just Made Major Increases To Their Xencor, Inc. (NASDAQ:XNCR) Earnings Forecasts

Shareholders in Xencor, Inc. ( NASDAQ:XNCR ) may be thrilled to learn that the analysts have just delivered a major...

Earnings and Revenue Growth Forecasts

NasdaqGM:XNCR - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/2028124-288-265-2418
12/31/2027110-288-274-24413
12/31/202673-307-266-25413
3/31/202697-172-189-187N/A
12/31/2025126-92-138-135N/A
9/30/2025150-131-138-133N/A
6/30/2025147-171-137-131N/A
3/31/2025127-208-171-162N/A
12/31/2024110-233-212-202N/A
9/30/2024109-213-143-134N/A
6/30/2024150-191-143-133N/A
3/31/2024172-146-115-104N/A
12/31/2023175-133-99-78N/A
9/30/2023145-119-151-121N/A
6/30/2023113-128-136-94N/A
3/31/202398-140-64-12N/A
12/31/2022165-55-1924N/A
9/30/20222973072111N/A
6/30/2022289224573N/A
3/31/2022327109219N/A
12/31/202127583-33-17N/A
9/30/2021163-4-75-62N/A
6/30/202117924-42-26N/A
3/31/2021124-64-58-44N/A
12/31/2020123-69-19-5N/A
9/30/202084-83-55-42N/A
6/30/202071-80-55-44N/A
3/31/202077-618093N/A
12/31/201915727N/A64N/A
9/30/201916536N/A67N/A
6/30/201917249N/A63N/A
3/31/201915339N/A-74N/A
12/31/201841-70N/A-80N/A
9/30/201859-45N/A-70N/A
6/30/201830-71N/A-63N/A
3/31/201843-53N/A-47N/A
12/31/201746-38N/A-34N/A
9/30/201722-55N/A-43N/A
6/30/201730-40N/A95N/A
3/31/20178415N/A98N/A
12/31/201610945N/A95N/A
9/30/201610340N/A107N/A
6/30/20169938N/A12N/A
3/31/201634-18N/A14N/A
12/31/201528-18N/A27N/A
9/30/201512-27N/A25N/A
6/30/20159-23N/A-20N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: XNCR is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: XNCR is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: XNCR is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: XNCR's revenue (34.5% per year) is forecast to grow faster than the US market (11.7% per year).

High Growth Revenue: XNCR's revenue (34.5% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if XNCR's Return on Equity is forecast to be high in 3 years time

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/18 07:53
End of Day Share Price 2026/05/15 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Xencor, Inc. is covered by 24 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Peter LawsonBarclays
Etzer DaroutBarclays
Zhiqiang ShuBerenberg