XNCR

Healthcare

Xencor, Inc. · Biotechnology · $840M

UQS Score — Balanced Preset
27.6
Poor

Xencor, Inc. scores 27.6/100 using the Balanced preset.

UQS vs Healthcare Sector
XNCR
27.6
Sector avg
32.4
Quality
Weak
Moat
Weak
Growth
Weak
Risk
Strong
Valuation
Elevated

What is Xencor, Inc.?

Xencor is a clinical-stage biopharmaceutical company focused on engineering monoclonal antibodies and cytokine therapeutics. Its programs target cancer and autoimmune diseases, with several candidates in active clinical trials across multiple indications.

Xencor generates revenue primarily through licensing its proprietary XmAb technology platform to partners, while advancing its own pipeline of engineered antibody candidates. The company has contributed to approved therapies — including Ultomiris and Monjuvi — through partnerships, and continues to develop bispecific antibodies and cytokine candidates internally. Its business model blends milestone and royalty income from collaborators with direct clinical development of wholly-owned programs.

Founded in 2013 and headquartered in Pasadena, California.

  • XmAb bispecific antibody platform licensed to pharma partners
  • Vudalimab — bispecific antibody in Phase II for prostate cancer
  • Plamotamab — tumor-targeted antibody in Phase I for lymphoma
  • XmAb564 — Phase I candidate targeting autoimmune diseases
  • Tidutamab — Phase II candidate for neuroendocrine tumors

Is XNCR a Good Stock to Buy?

UQS Score rates XNCR as Poor overall, reflecting meaningful challenges across several fundamental dimensions.

The Risk pillar stands out as the clearest positive — Xencor carries a balance sheet profile that provides a degree of financial runway uncommon for clinical-stage biotechs. This offers some buffer as the company advances multiple pipeline candidates through costly trials.

The Quality and Moat pillars both register as Weak, pointing to limited durable competitive advantages and earnings power at this stage. The Valuation pillar reads as Elevated, suggesting the current market price may already reflect optimistic pipeline assumptions.

See the exact pillar breakdown and full financial metrics by signing up for a Pro membership at UQS Score. Sign up free →

Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.

Does XNCR pay dividends?

No — Xencor, Inc. does not currently pay a dividend.

Xencor does not pay a dividend, which is typical for clinical-stage biopharmaceutical companies. Capital is directed toward funding clinical trials, platform development, and partnership activities rather than shareholder distributions. Investors in XNCR are generally positioned for potential pipeline-driven value creation rather than income.

When does XNCR report earnings?

Xencor reports earnings on a quarterly cadence, consistent with US-listed public companies.

As a clinical-stage company, Xencor's quarterly results are shaped largely by collaboration revenue, milestone payments, and research expenditures rather than product sales. Fluctuations in reported figures often reflect the timing of partner milestones or trial-related costs.

For the most recent quarter's results, visit Xencor's investor relations page directly.

XNCR Price History

-67.2% over 5Y

Monthly close, adjusted for stock splits and dividend reinvestment.

Return Calculator

What if I invested in Xencor, Inc.?

$
Today it would be worth
$3,036
That's a -69.6% total return, or -21.2% annualized.

Based on Xencor, Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.

XNCR Long-term Outlook

Xencor's Growth pillar registers as Neutral, reflecting a pipeline with meaningful optionality but no near-term commercial catalyst that is clearly de-risked. The Strong Risk pillar suggests the company has sufficient financial resources to sustain operations through key trial readouts. However, the Elevated Valuation pillar indicates that the market may already be pricing in favorable outcomes, leaving limited margin for error if clinical data disappoint.

Growth drivers

  • Potential milestone and royalty income from XmAb platform partnerships
  • Clinical advancement of bispecific antibody candidates into later-stage trials
  • Expansion of autoimmune pipeline alongside oncology programs

Key risks

  • Clinical trial failures could significantly impair pipeline value
  • Elevated valuation leaves little room for negative data surprises
  • Dependence on partner decisions and external collaboration timelines

XNCR vs Peers

Xencor operates in a competitive clinical-stage biotech landscape alongside several peers pursuing antibody-based and complement-targeted therapies.

JANXXNCR scores higher
Janux Therapeutics, Inc.

Janux focuses on its TRACTr and TRACIr platforms for T-cell engaging bispecifics, competing directly in the engineered antibody space with a narrower oncology focus.

OMERXNCR scores lower
Omeros Corporation

Omeros pursues complement system and MASP-2 inhibition targets, giving it a distinct mechanistic profile compared to Xencor's XmAb-based approach.

FTREXNCR scores lower
Fortrea Holdings Inc.

Fortrea operates as a contract research organization, supporting clinical trials rather than developing its own pipeline — a different business model within the broader healthcare services space.

Frequently Asked Questions

What does Xencor do?

Xencor is a clinical-stage biopharmaceutical company that engineers monoclonal antibodies and cytokine therapeutics. It develops treatments for cancer and autoimmune diseases through its proprietary XmAb technology platform, which it also licenses to larger pharmaceutical partners in exchange for milestones and royalties.

Does XNCR pay dividends?

No, Xencor does not currently pay a dividend. As a clinical-stage company, it reinvests available capital into research, clinical trials, and platform development. Income-focused investors should be aware that distributions are not part of Xencor's current capital allocation strategy.

When does XNCR report earnings?

Xencor reports on a standard quarterly schedule. Because it is a clinical-stage company, results often hinge on collaboration revenue timing and trial costs rather than product sales. Check Xencor's investor relations page for the most current reporting calendar.

Is XNCR a good stock to buy?

UQS Score rates XNCR as Poor overall. The Risk pillar is a relative strength, but Quality and Moat both register as Weak, and Valuation reads as Elevated. Investors should weigh the pipeline optionality against the current pricing and limited near-term commercial revenue. The full pillar breakdown is available to Pro members.

Is XNCR overvalued?

The UQS Valuation pillar for XNCR is rated Elevated, suggesting the stock may be pricing in optimistic pipeline outcomes relative to its current fundamental profile. Clinical-stage biotechs often carry premium valuations tied to future potential, which can compress if trial results disappoint.

How does XNCR compare to its competitors?

Compared to peers like Janux Therapeutics and Omeros, Xencor differentiates through its broad XmAb platform and established licensing partnerships. However, all three operate in high-risk clinical development environments. The UQS Score comparison for each peer is available on their respective pages.

What is XNCR's market cap bracket?

Xencor is classified as a small-cap company. This places it in a segment of the market that can offer higher growth potential but typically carries greater volatility and liquidity risk compared to large- or mega-cap peers in the healthcare sector.

Who founded Xencor?

Xencor was founded in 2013 and is headquartered in Pasadena, California. For detailed founding history and leadership background, Xencor's official about page and public filings provide comprehensive information.

Is XNCR a long-term quality investment?

As a long-term quality indicator, XNCR's UQS Score of Poor reflects current weaknesses in Quality and Moat that are common for pre-commercial biotechs. Long-term quality depends heavily on whether pipeline candidates achieve regulatory approval and generate durable revenue. The Risk pillar's strength does provide some financial stability in the interim.

What is the main competitive advantage of Xencor?

Xencor's primary differentiator is its XmAb engineering platform, which allows it to design antibodies with enhanced properties and license that technology to major pharmaceutical companies. This creates a royalty and milestone revenue stream that partially offsets the costs of its internal pipeline development.

What sector does XNCR belong to?

Xencor operates in the Healthcare sector, specifically within clinical-stage biopharmaceuticals. Its focus on engineered antibody therapeutics places it in a specialized niche that intersects oncology and immunology drug development.

Is XNCR a growth stock or value stock?

Based on its UQS profile, XNCR leans toward a growth-oriented positioning — its Growth pillar is Neutral and its Valuation pillar is Elevated, meaning the market is assigning a premium relative to current fundamentals. It does not exhibit the characteristics typically associated with value stocks.

Unlock Full XNCR Analysis

Sign in to unlock the detailed analysis behind the UQS Score.

  • View the complete five-pillar UQS Score breakdown
  • Access detailed financial metrics behind each pillar
  • Compare XNCR against sector peers side by side
  • Track pipeline-driven quality changes over time
  • Get the full analyst-grade view in one place
Analyze XNCR in Detail →

Pro Analysis

XNCR — Score History

2025303540Apr 2Apr 12Apr 22May 2May 12May 22May 24v5
Score changes· 3 most recent
DateUQSQualityMoatGrowthRiskValueChange
May 22, 202627.65.430.032.681.80.0-2.2
Apr 10, 202629.85.430.042.882.40.0-0.7
Apr 2, 202630.55.430.046.582.40.0

XNCR — Pillar Breakdown

Quality

5.4/100 (25%)

Xencor, Inc. currently shows below-average quality metrics, suggesting challenges with profitability.

Capital Efficiency (ROIC)Weak

How effectively capital is deployed to generate returns.

Return on EquityWeak

Profitability relative to shareholders' equity.

Operating ProfitabilityWeak

Ability to convert revenue into operating profit.

Net ProfitabilityWeak

Bottom-line profit as a share of revenue.

Gross Profit / AssetsWeak

Asset productivity — how much gross profit each dollar of assets generates.

Cash GenerationWeak

Free cash flow relative to market value.

Growth

32.6/100 (20%)

Xencor, Inc. faces growth headwinds with declining or stagnant revenue trends.

Recent Revenue TrendModerate

Revenue trajectory over the last twelve months.

3Y Revenue CAGRWeak

Compound annual revenue growth rate over 3 years.

EPS GrowthStrong

Year-over-year earnings per share growth.

Forward Revenue OutlookWeak

Analyst consensus for future revenue growth.

Risk

81.8/100 (15%)

Xencor, Inc. carries minimal financial risk with conservative leverage and strong solvency.

Financial LeverageStrong

Debt levels relative to earnings capacity.

Debt/EquityStrong

Total debt relative to shareholder equity.

Current RatioStrong

Short-term liquidity — ability to pay near-term obligations.

Interest CoverageWeak

Earnings capacity relative to interest payments.

Valuation

0.0/100 (15%)

Xencor, Inc. appears expensively valued relative to its fundamentals and growth prospects.

Moat

30/100 (25%)

Xencor, Inc. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for XNCR.

Score Composition

Quality
5.4×25%1.4
Growth
32.6×20%6.5
Risk
81.8×15%12.3
Valuation
0.0×15%0.0
Moat
30.0×25%7.5
Total
27.6Poor

Financial Data

More Stock Analysis

How is the XNCR UQS Score Calculated?

The UQS (Unified Quality Score) for Xencor, Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.

Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.

Moat (25%) assesses Xencor, Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.

Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.

Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.

Valuation (15%) measures whether Xencor, Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.

Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.