Top 10 Stocks Under $10 That Could Triple

4. Xencor, Inc. (NASDAQ:XNCR)

Share Price: $8.55

Average Price Target Upside Potential According to Analysts: 209.22%

Number of Hedge Fund Holders: 32

Xencor, Inc. (NASDAQ:XNCR) is one of the top stocks under $10 that could triple. On August 21, RBC Capital reduced its price target for Xencor, Inc. (NASDAQ:XNCR) from $32 to $15 and maintained an Outperform rating.

Despite lowering the price target, the firm believes that the current share price does not reflect the full value of Xencor, Inc.’s (NASDAQ:XNCR) business.

RBC Capital pointed to key areas of the company’s business that it sees as underappreciated. These include XmAb942, a monospecific anti-TL1A antibody, which has the potential for class-leading potency, for patients with inflammatory bowel diseases (IBD). Other areas of work that RBC sees as underappreciated include the immunology program focused on plamotamab and a bispecific platform in oncology where upcoming ENPP3 data could help reduce risks.

The firm also noted some challenges for Xencor, Inc. (NASDAQ:XNCR). These include limited data available for its programs, fewer near-term growth drivers outside oncology, and the need to advance development quickly.

Despite lowering the price target and acknowledging these concerns, RBC Capital suggested that it would still buy Xencor, Inc. (NASDAQ:XNCR).

Xencor, Inc. (NASDAQ:XNCR) is a clinical-stage biopharmaceutical company focused on developing engineered antibodies for cancer and autoimmune diseases.