Corient Private Wealth LP bought a new position in shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS – Free Report) during the second quarter, according to its most recent filing with the SEC. The fund bought 184,126 shares of the company’s stock, valued at approximately $1,458,000.
Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Xeris Biopharma in the 2nd quarter worth about $115,042,000. Legal & General Group Plc purchased a new stake in Xeris Biopharma during the second quarter worth about $15,941,000. Parkman Healthcare Partners LLC bought a new stake in Xeris Biopharma in the second quarter worth about $14,316,000. UBS Group AG raised its position in Xeris Biopharma by 682.4% in the third quarter. UBS Group AG now owns 1,782,734 shares of the company’s stock worth $14,511,000 after acquiring an additional 1,554,869 shares during the period. Finally, Bank of America Corp DE purchased a new position in Xeris Biopharma in the second quarter valued at about $11,065,000. 42.75% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Xeris Biopharma from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings cut shares of Xeris Biopharma from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Finally, Barclays upped their price objective on Xeris Biopharma from $9.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, August 20th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $12.00.
Insider Transactions at Xeris Biopharma
In other news, insider Steven Pieper sold 27,600 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $8.52, for a total value of $235,152.00. Following the sale, the insider owned 1,366,053 shares of the company’s stock, valued at $11,638,771.56. The trade was a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Beth Hecht sold 16,666 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $8.49, for a total transaction of $141,494.34. Following the sale, the insider owned 1,127,796 shares in the company, valued at $9,574,988.04. The trade was a 1.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 224,998 shares of company stock worth $1,847,219 over the last quarter. Corporate insiders own 4.35% of the company’s stock.
Xeris Biopharma Trading Up 0.1%
Shares of XERS opened at $8.59 on Friday. The business has a 50-day moving average of $8.39 and a 200 day moving average of $6.97. Xeris Biopharma Holdings, Inc. has a fifty-two week low of $5.25 and a fifty-two week high of $10.08. The firm has a market cap of $1.57 billion, a P/E ratio of -78.09 and a beta of 0.70. The company has a debt-to-equity ratio of 17.00, a quick ratio of 1.02 and a current ratio of 1.45.
Xeris Biopharma (NASDAQ:XERS – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.19). The firm had revenue of $92.10 million during the quarter, compared to the consensus estimate of $90.12 million. Xeris Biopharma had a negative net margin of 5.12% and a positive return on equity of 338.21%. As a group, research analysts forecast that Xeris Biopharma Holdings, Inc. will post 0.07 EPS for the current year.
Xeris Biopharma Company Profile
Xeris Biopharma is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies for endocrine and orphan diseases. The company’s proprietary formulation platform is designed to enable liquid stability of drugs that traditionally require reconstitution before injection. By eliminating the need for on-site mixing and simplifying administration, Xeris aims to improve patient safety, adherence, and convenience in high-need therapeutic areas.
The company’s flagship product, Gvoke, is a ready-to-use liquid glucagon autoinjector and prefilled syringe that has been approved by the U.S.
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