Xeris Pharmaceuticals (NASDAQ:XERS) Shares Up 7.2%

Xeris Pharmaceuticals Inc (NASDAQ:XERS) shares shot up 7.2% during mid-day trading on Friday . The company traded as high as $11.75 and last traded at $11.59, 117,900 shares changed hands during trading. A decline of 45% from the average session volume of 213,337 shares. The stock had previously closed at $10.81.

A number of research firms have recently issued reports on XERS. Royal Bank of Canada set a $18.00 price target on Xeris Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Mizuho reissued a “buy” rating and set a $27.00 price target on shares of Xeris Pharmaceuticals in a research report on Thursday, July 25th.

The company has a current ratio of 6.00, a quick ratio of 6.00 and a debt-to-equity ratio of 0.39. The business has a 50-day moving average price of $11.66 and a 200-day moving average price of $10.88. The firm has a market cap of $316.56 million, a P/E ratio of -2.32 and a beta of -0.40.

Xeris Pharmaceuticals (NASDAQ:XERS) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.34). Xeris Pharmaceuticals had a negative return on equity of 107.65% and a negative net margin of 4,876.50%. The firm had revenue of $0.31 million for the quarter, compared to the consensus estimate of $0.20 million. On average, equities analysts anticipate that Xeris Pharmaceuticals Inc will post -4.72 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Bank of Montreal Can bought a new stake in Xeris Pharmaceuticals during the second quarter valued at about $26,000. Tower Research Capital LLC TRC bought a new stake in Xeris Pharmaceuticals during the second quarter valued at about $42,000. BNP Paribas Arbitrage SA bought a new stake in Xeris Pharmaceuticals during the first quarter valued at about $43,000. Marshall Wace North America L.P. bought a new stake in Xeris Pharmaceuticals during the first quarter valued at about $71,000. Finally, Susquehanna International Group LLP bought a new stake in Xeris Pharmaceuticals during the second quarter valued at about $118,000. 59.53% of the stock is currently owned by institutional investors.

About Xeris Pharmaceuticals (NASDAQ:XERS)

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.

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