Xencor price target lowered to $27 from $29 at Truist
Truist lowered the firm's price target on Xencor to $27 from $29 and keeps a Buy rating on the shares as part of a broader research note updating the firm's models and previewing Q2 earnings in Biotech. The firm is anticipating a rebound from a traditionally softer start to the year, with strength in Q2 prints for commercial franchises within its coverage, the analyst tells investors in a research note. Truist adds that it sees a robust catalyst calendar, supported by sector optimism and deal activity, as drivers for the recent momentum across the sector.
Truist lowered the firm's price target on Xencor to $27 from $29 and keeps a Buy rating on the shares as part of a broader research note updating the firm's models and previewing Q2 earnings in Biotech.
The firm is anticipating a rebound from a traditionally softer start to the year, with strength in Q2 prints for commercial franchises within its coverage, the analyst tells investors in a research note.
Truist adds that it sees a robust catalyst calendar, supported by sector optimism and deal activity, as drivers for the recent momentum across the sector.