Xeris Pharmaceuticals (XERS) Downgraded to Sell at Zacks Investment Research

Xeris Pharmaceuticals (NASDAQ:XERS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

According to Zacks, “Xeris Pharmaceuticals, Inc. produces peptides, proteins, antibodies, molecules, auto-injectors, multi-dose pens and infusion pumps to treat endocrine and metabolic diseases. The company’s proprietary formulation technologies consist of XeriSol (TM) and XeriJect(TM). Xeris Pharmaceuticals, Inc. is based in Chicago, United States. “

A number of other research analysts also recently commented on the company. Mizuho assumed coverage on Xeris Pharmaceuticals in a research note on Monday, July 16th. They set a “buy” rating on the stock. Jefferies Financial Group assumed coverage on Xeris Pharmaceuticals in a research note on Monday, July 16th. They set a “buy” rating and a $23.00 price objective on the stock. Royal Bank of Canada assumed coverage on Xeris Pharmaceuticals in a research note on Monday, July 16th. They set an “outperform” rating and a $24.00 price objective on the stock. Finally, Leerink Swann assumed coverage on Xeris Pharmaceuticals in a research note on Monday, July 16th. They set an “outperform” rating and a $24.00 price objective on the stock. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Xeris Pharmaceuticals currently has an average rating of “Buy” and an average price target of $23.67.

Shares of NASDAQ XERS traded up $0.04 on Friday, hitting $18.55. The company had a trading volume of 34,135 shares, compared to its average volume of 85,916. Xeris Pharmaceuticals has a 12-month low of $15.75 and a 12-month high of $27.98.

Xeris Pharmaceuticals (NASDAQ:XERS) last issued its quarterly earnings results on Monday, August 13th. The company reported ($3.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($2.19). The company had revenue of $0.82 million during the quarter, compared to analysts’ expectations of $0.30 million. On average, research analysts anticipate that Xeris Pharmaceuticals will post -8.36 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Citadel Advisors LLC acquired a new stake in Xeris Pharmaceuticals in the 2nd quarter valued at approximately $214,000. BlackRock Inc. acquired a new stake in Xeris Pharmaceuticals in the 2nd quarter valued at approximately $475,000. Dean Capital Investments Management LLC acquired a new stake in Xeris Pharmaceuticals in the 2nd quarter valued at approximately $563,000. Millennium Management LLC acquired a new stake in Xeris Pharmaceuticals in the 2nd quarter valued at approximately $1,898,000. Finally, Granahan Investment Management Inc. MA acquired a new stake in Xeris Pharmaceuticals in the 2nd quarter valued at approximately $2,481,000. Hedge funds and other institutional investors own 45.89% of the company’s stock.

About Xeris Pharmaceuticals

Xeris Pharmaceuticals, Inc, a specialty pharmaceutical company, develops and commercializes ready-to-use injectable and infusible drug formulations. Its proprietary XeriSol and XeriJect formulation technologies allow for the subcutaneous and intramuscular delivery of highly-concentrated, ready-to-use formulations of peptides, proteins, antibodies, and small molecules using commercially available syringes, auto-injectors, multi-dose pens, and infusion pumps.

Read More: Earnings Per Share

Get a free copy of the Zacks research report on Xeris Pharmaceuticals (XERS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Xeris Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xeris Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply