Xeris Biopharma (NASDAQ:XERS) Shares Gap Down – Should You Sell?

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $9.87, but opened at $8.40. Xeris Biopharma shares last traded at $8.0630, with a volume of 2,744,939 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on XERS. Leerink Partners increased their target price on Xeris Biopharma from $7.00 to $9.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. Oppenheimer upped their price target on shares of Xeris Biopharma from $8.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Zacks Research downgraded shares of Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. HC Wainwright initiated coverage on shares of Xeris Biopharma in a research note on Tuesday, August 12th. They set a “buy” rating and a $10.00 target price for the company. Finally, Wall Street Zen lowered shares of Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a research note on Saturday. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $8.92.

Xeris Biopharma Stock Performance

The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -74.29 and a beta of 0.21. The company’s 50 day simple moving average is $8.39 and its 200 day simple moving average is $6.37.

Xeris Biopharma (NASDAQ:XERS) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.02. The company had revenue of $67.71 million during the quarter, compared to the consensus estimate of $64.58 million. Sell-side analysts predict that Xeris Biopharma Holdings, Inc. will post -0.41 EPS for the current year.

Insider Transactions at Xeris Biopharma

In other Xeris Biopharma news, Director Dawn Halkuff sold 42,500 shares of the company’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $7.28, for a total value of $309,400.00. Following the completion of the sale, the director directly owned 115,000 shares of the company’s stock, valued at approximately $837,200. This represents a 26.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey W. Sherman sold 42,232 shares of Xeris Biopharma stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $7.92, for a total transaction of $334,477.44. Following the completion of the transaction, the director directly owned 219,188 shares in the company, valued at $1,735,968.96. This represents a 16.15% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 207,732 shares of company stock valued at $1,550,437. Company insiders own 6.47% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP boosted its stake in shares of Xeris Biopharma by 10.3% during the 3rd quarter. GSA Capital Partners LLP now owns 68,716 shares of the company’s stock worth $559,000 after acquiring an additional 6,394 shares in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Xeris Biopharma in the 3rd quarter valued at $204,000. Baader Bank Aktiengesellschaft purchased a new position in Xeris Biopharma in the 3rd quarter worth about $230,000. Essex Investment Management Co. LLC raised its holdings in Xeris Biopharma by 3.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 750,034 shares of the company’s stock worth $6,105,000 after buying an additional 24,260 shares during the period. Finally, Jacksonville Wealth Management LLC purchased a new stake in Xeris Biopharma during the third quarter valued at about $138,000. Institutional investors own 42.75% of the company’s stock.

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.