Xeris Biopharma (NASDAQ:XERS) Shares Up 8.4% on Insider Buying Activity

Shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) traded up 8.4% on Tuesday following insider buying activity. The stock traded as high as $4.70 and last traded at $4.77. 437,729 shares changed hands during trading, a decline of 78% from the average session volume of 1,978,886 shares. The stock had previously closed at $4.40.

Specifically, insider Kevin Mcculloch bought 25,000 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The stock was purchased at an average cost of $4.38 per share, with a total value of $109,500.00. Following the transaction, the insider now directly owns 1,708,585 shares in the company, valued at $7,483,602.30. This trade represents a 1.48% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Wall Street Analyst Weigh In

XERS has been the topic of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 target price (up from $6.60) on shares of Xeris Biopharma in a report on Friday, March 7th. Oppenheimer lifted their price objective on shares of Xeris Biopharma from $6.00 to $7.00 and gave the company an “outperform” rating in a research note on Friday, May 9th. Leerink Partners increased their target price on shares of Xeris Biopharma from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Friday, March 7th. Wall Street Zen downgraded Xeris Biopharma from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Finally, Craig Hallum boosted their target price on Xeris Biopharma from $5.00 to $6.50 and gave the company a “buy” rating in a report on Friday, March 7th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $6.25.

Xeris Biopharma Price Performance

The stock has a market cap of $737.36 million, a price-to-earnings ratio of -10.48 and a beta of 0.71. The company’s 50 day moving average is $4.55 and its 200 day moving average is $4.14.

Xeris Biopharma (NASDAQ:XERS) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $57.80 million for the quarter, compared to analyst estimates of $57.61 million. Sell-side analysts predict that Xeris Biopharma Holdings, Inc. will post -0.41 earnings per share for the current year.

Institutional Trading of Xeris Biopharma

Institutional investors have recently bought and sold shares of the company. Rhumbline Advisers raised its stake in shares of Xeris Biopharma by 4.3% during the 4th quarter. Rhumbline Advisers now owns 180,964 shares of the company’s stock worth $613,000 after buying an additional 7,408 shares during the last quarter. Principal Financial Group Inc. raised its position in Xeris Biopharma by 10.5% during the fourth quarter. Principal Financial Group Inc. now owns 113,217 shares of the company’s stock worth $384,000 after acquiring an additional 10,748 shares during the last quarter. Ieq Capital LLC lifted its holdings in shares of Xeris Biopharma by 24.5% in the fourth quarter. Ieq Capital LLC now owns 67,715 shares of the company’s stock valued at $230,000 after purchasing an additional 13,322 shares in the last quarter. Sunpointe LLC acquired a new stake in shares of Xeris Biopharma in the fourth quarter valued at approximately $71,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Xeris Biopharma during the 4th quarter worth approximately $45,000. 42.75% of the stock is currently owned by hedge funds and other institutional investors.

About Xeris Biopharma

Xeris Biopharma Holdings, Inc, a biopharmaceutical company, engages in developing and commercializing therapies in Illinois. The company offers Gvoke, a ready-to-use liquid-stable glucagon for the treatment of severe hypoglycemia pediatric and adult patients; Keveyis, a therapy for the treatment of hyperkalemic, hypokalemic, and related variants of primary periodic paralysis; and Recorlev, a cortisol synthesis inhibitor proved for the treatment of endogenous hypercortisolemia in adult patients with Cushing's syndrome.