Xencor Inc (XNCR) fair value: what the stock is really worth
As of Nov 10, 2026: fair value (intrinsic value) of Xencor Inc stock $25.45, price $39.39, that is 35.4% below the price, quality 45 out of 100. Rating: strongly overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.
How to read this chart
60‑month range $7.00 – $43.44 · fair‑value band $19.08 – $31.81 · the $39.39 price screens above the $25.45 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.
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Xencor, Inc., a clinical-stage biopharmaceutical company, focuses on the discovery and development of engineered antibodies for the treatment of cancer and autoimmune diseases.
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The company provides Ultomiris to treat patients with atypical hemolytic uremic syndrome, generalized myasthenia gravis, and neuromyelitis optica spectrum disororder; and Monjuvi for the treatment of patients with relapsed or refractory diffuse large B-cell lymphoma.
It also develops XmAb819, a bispecific antibody to treat renal cell carcinoma; XmAb541, which is in Phase I for the treatment of ovarian cancer; XmAb808, a bispecific antibody that binds to the broadly expressed tumor antigen; XmAb942, which is in clinical development for patients with Crohn's disease and ulcerative colitis; Plamotamab, a bispecific T-cell, which is in Phase Ib study to treat rheumatoid arthritis; and XmAb657 for patients with idiopathic inflammatory myopathies.
Further, the company develops Xaluritamig, a bispecific T-cell engager that treats prostate cancer; ASP2138 to treat gastric, gastroesophageal junction, and pancreatic cancers; JNJ-9401 to treat metastatic castration-resistant prostate cancer; Obexelimab, an antibody to treat patients with autoimmune diseases; Tobevibart, a treatment for chronic hepatitis Delta; Zaltenibart to treat paroxysmal nocturnal hemoglobinuria and other alternative pathway disorders; Teropavimab and zinlirvimab to treat human immunodeficiency virus; Novartis, an antibody drug candidate that uses XmAb Fc technologies; and JNJ-1493 to treat B-cell malignancies.
The company was incorporated in 1997 and is headquartered in Pasadena, California.
Stock analysis
Xencor Inc (XNCR) currently trades at $39.39, while our estimate is $25.45, 35% below the price, so the stock looks overvalued today.
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Valuation
None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.
Scenario range: $19.08 (bear) to $31.81 (bull), the price of $39.39 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 45/100 (below-average quality), in the Healthcare sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Xencor Inc reported revenue of $126M in FY2025 versus $275M in FY2021, a compound −17.8%/yr. Reported net income was −$91.9M in FY2025.
Key figures
Market cap $3.0B Mid · P/S ratio 24.8 · EPS (TTM) $−2.16 · Net margin −73.2% · Return on equity −29.1% · Return on assets (EBIT) −11.6% (5-year average) · Operating margin −72.4% · Revenue (TTM) $105M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 12 out of 100 (low confidence).
What moves the price
The share trades at its 52-week high and 278% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −7% fair-value upside, at −35%, XNCR screens richer than that median.
Fair Value
Bear$19.08Fair Value $25.45Bull$31.81
Price $39.39 · Downside -35.4%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.
Quality Score breakdown
Overall quality45/100
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Profitability5
How much profit the company makes from its sales and capital
Quality Growth65
Are margins and returns getting better?
Cashflow22
Do the profits arrive as real cash?
Financial strength78
Debt, balance sheet and risk of trouble
Investment97
Does it invest with discipline instead of growing at any price?
Low Volatility40
How calm the share price moves, does not count
Price momentum100
Price momentum of the last 3 to 12 months, does not count
In the last 6 months, 5 officers or directors sold shares worth $379,135 and none bought.
SaleEllen FeigalDirector6,843 shares at $13.06$89,370Jun 18, 202610b5-1 plan
SaleKevin Charles GormanDirector7,527 shares at $12.31$92,657Jun 15, 202610b5-1 plan
SaleRichard J RanieriDirector5,474 shares at $12.31$67,385Jun 15, 202610b5-1 plan
SaleAlan Bruce MontgomeryDirector5,064 shares at $12.31$62,338Jun 15, 202610b5-1 plan
SaleKurt A GustafsonDirector5,474 shares at $12.31$67,385Jun 15, 202610b5-1 plan
SaleBart Jan CornelissenSR. VICE PRESIDENT & CFO2× since Mar 5, 2026: 6,016 shares, avg. $11.85$71,319Apr 10, 2026
SaleBassil I DahiyatPRESIDENT & CEO, Director3× since Dec 19, 2025: 142,611 shares, avg. $14.85$2.1MMar 6, 2026
SaleJohn R DesjarlaisSR. VICE PRESIDENT & CSO3× since Dec 19, 2025: 82,650 shares, avg. $15.23$1.3MMar 6, 2026
SaleCelia EckertSVP, GENERAL COUNSEL2× since Mar 3, 2026: 6,503 shares, avg. $11.34$73,722Mar 6, 2026
Plus 8 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.12/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+13.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−8.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.5%
Start year 2020 (pandemic). Over 10 years: +16.3% a year
Revenue growth 14 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+23.1%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−62.6% (2020) → −141.4% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
News mood ⓘNews mood, the average tone of recent news (94 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Negative
Recent news coverage is more negative than average.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Biotechnology · 849 stocks
Beats the industry median on 3/9 measures
Overall it trails its industry peers.
Valuation
Quality Score45 · Above median
Fair Value upside−35.4% · Below median
Profitability
Return on assets−10.5% · Above median
Net margin (12 months)−155.6% · Bottom 25%
Operating margin (12 months)−72.4% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)17.5% · Above median
Balance sheet
Debt / equity0.12× · Above median
Valuation Multiplesvs Biotechnology median · lower = cheaper
P/B4.70× · Pricier than median
P/S (12 months)28.47× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)88· sector 0
PAST (return on equity)0· sector 0
HEALTH (low debt)94· sector 96
DIVIDEND (yield)0· sector 20
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Xencor Inc Fair Value". https://www.fairvalue-calculator.com/stock/XNCR
Frequently asked questions
Is Xencor Inc (XNCR) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is $25.45 versus a price of $39.39, about 35% lower (overvalued).
What is the fair value of XNCR?
Our estimate for Xencor Inc is $25.45 (as of Nov 10, 2026), built from audited fundamentals. The current price: $39.39.
What is the quality score of XNCR?
Xencor Inc has a Quality Score of 45/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Xencor Inc (XNCR)?
Our calculated price target is the estimate of $25.45 (as of Nov 10, 2026). Cautious scenario $19.08, optimistic scenario $31.81. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Xencor Inc stock forecast for 2026?
Our estimate puts fair value at $25.45, about 35% lower versus a price of $39.39 (overvalued). Cautious scenario $19.08, optimistic scenario $31.81. The calculation is refreshed regularly with new filings.
What is the revenue of Xencor Inc (XNCR)?
Xencor Inc reported trailing-twelve-month revenue of about $105M (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Xencor Inc (XNCR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Xencor Inc it is $25.45 per share (as of Nov 10, 2026), against a price of $39.39.
Is Xencor Inc stock overvalued or undervalued in 2026?
As of Nov 10, 2026, XNCR trades above its calculated fair value: price $39.39, fair value $25.45, a gap of about −35% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of XNCR?
No. The price is what the market pays today ($39.39); the fair value is what the company's own numbers justify ($25.45). For Xencor Inc the two are $13.94 per share apart. That gap is exactly why we show both numbers side by side.
How much is Xencor Inc worth?
The market values Xencor Inc at about $3.0B (market capitalisation, as of Nov 10, 2026). Per share that is $39.39; our models calculate a fair value of $25.45 per share.
What do the bullish and bearish scenarios say about XNCR?
Our models span a range for Xencor Inc: cautious scenario $19.08, base $25.45, optimistic $31.81 per share (as of Nov 10, 2026, price $39.39). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Xencor Inc (XNCR)?
Balance-sheet figures for Xencor Inc (as of Nov 10, 2026): return on equity −29.1%, debt of 0.12 per unit of equity. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is XNCR from its 52-week high?
Xencor Inc trades at $39.39, at its 52-week high of $39.39 and 278% above the low of $10.41 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of $25.45 is for.
Which stocks are comparable to Xencor Inc?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Moderna, Inc, Regeneron Pharmaceuticals, Inc, CSL Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Xencor Inc stock attractive at the current price?
The data as of Nov 10, 2026: price $39.39, calculated fair value $25.45 (−35%), Quality Score 45/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Xencor Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Xencor Inc (XNCR)?
The closing price on Nov 10, 2026 was $39.39. Our estimate is $25.45, about 35% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Xencor Inc right now?
The price sits above even our optimistic bull case ($31.81). The favourable scenario is already priced in. Weak quality (45/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of Xencor Inc
How large is the market capitalisation of Xencor Inc (XNCR)?
The market capitalisation of Xencor Inc is $3.0B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Xencor Inc (XNCR)?
The price-to-sales ratio of Xencor Inc is 24.8 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Xencor Inc (XNCR)?
Earnings per share at Xencor Inc are $−2.16. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Xencor Inc (XNCR)?
The net margin of Xencor Inc is −73.2% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Xencor Inc (XNCR)?
The return on equity (ROE) of Xencor Inc is −29.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Xencor Inc (XNCR)?
On an EBIT basis the return on assets of Xencor Inc is −11.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Xencor Inc (XNCR)?
The operating margin of Xencor Inc is −72.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Xencor Inc (XNCR)?
Revenue at Xencor Inc is growing +17.5% versus a year earlier (3y avg −8.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Xencor Inc (XNCR) generate?
The free cash flow of Xencor Inc is −$138M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Xencor Inc (XNCR) carry?
The net debt of Xencor Inc is $134M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Nov 10, 2026
