Biopharma firm Xencor's Q2 revenue beats on royalty revenue, milestone payments

Xencor expects to end 2026 with $420 million to $440 million in cash and equivalents.

The company expects cash resources to fund operations through 2028.

Xencor anticipates multiple clinical data readouts in 2027 and beyond.

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy," 2 "hold" and no "sell" or "strong sell".

The average consensus recommendation for the biotechnology & medical research peer group is "buy".

Wall Street's median 12-month price target for Xencor, Inc. is $28.00, about 40.6% above its August 4 closing price of $19.92.

• Royalty revenue: Q2 revenue was boosted by $27.6 million in royalty revenue from Alexion, recognized after a settlement agreement resolved the U.S. Ultomiris royalty dispute.