Xeris Biopharma (NASDAQ:XERS) Reaches New 52-Week High – Here’s Why

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS – Get Free Report) shares reached a new 52-week high on Tuesday. The company traded as high as $11.42 and last traded at $10.95, with a volume of 4,340,782 shares changing hands. The stock had previously closed at $10.31.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on XERS shares. Leerink Partners upped their price objective on shares of Xeris Biopharma from $12.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday, September 10th. Barclays raised their target price on Xeris Biopharma from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, October 6th. Wall Street Zen upgraded Xeris Biopharma from a “hold” rating to a “buy” rating in a research note on Saturday, September 19th. Finally, Weiss Ratings cut Xeris Biopharma from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $13.20.

Get Our Latest Research Report on XERS

Xeris Biopharma Stock Up 6.2%

The stock has a market cap of $2.00 billion, a PE ratio of -99.55 and a beta of 0.53. The company has a current ratio of 1.45, a quick ratio of 1.02 and a debt-to-equity ratio of 17.00. The business has a 50-day moving average price of $8.94 and a 200-day moving average price of $7.68.

Xeris Biopharma (NASDAQ:XERS – Get Free Report) last released its quarterly earnings results 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 company had revenue of $92.10 million during the quarter, compared to analyst estimates 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, analysts forecast that Xeris Biopharma Holdings, Inc. will post 0.07 earnings per share for the current year.

Insider Buying and Selling at Xeris Biopharma

In other Xeris Biopharma news, insider Beth Hecht sold 16,666 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $9.41, for a total transaction of $156,827.06. Following the transaction, the insider directly owned 1,111,130 shares of the company’s stock, valued at $10,455,733.30. This trade represents a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin McCulloch sold 25,000 shares of Xeris Biopharma stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $10.00, for a total transaction of $250,000.00. Following the completion of the sale, the insider owned 1,614,208 shares in the company, valued at approximately $16,142,080. This trade represents a 1.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 134,998 shares of company stock valued at $1,202,666 over the last ninety days. Corporate insiders own 4.35% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Vilga Financial Planning LLC purchased a new position in Xeris Biopharma in the 3rd quarter valued at about $10,134,000. Walleye Capital LLC acquired a new stake in Xeris Biopharma in the 2nd quarter worth about $4,841,000. Legal & General Group Plc purchased a new stake in Xeris Biopharma during the 2nd quarter worth approximately $15,941,000. Canada Pension Plan Investment Board purchased a new stake in Xeris Biopharma during the 2nd quarter worth approximately $1,736,000. Finally, Bank of America Corp DE purchased a new stake in Xeris Biopharma during the 2nd quarter worth approximately $11,065,000. Institutional investors and hedge funds own 42.75% of the company’s stock.

Xeris Biopharma Company Profile

(Get Free Report)

Xeris Biopharma, Inc is a specialty pharmaceutical company focused on developing and commercializing therapies for patients with endocrinology, gastroenterology, and related rare or chronic conditions. The company uses proprietary formulation technologies designed to deliver medicines that are difficult to formulate or administer through conventional methods, including its XeriSol and XeriJect platforms.

Xeris’ commercial portfolio includes Gvoke, a ready-to-use glucagon injection used to treat severe hypoglycemia; Keveyis (dichlorphenamide), a treatment for primary periodic paralysis; and Recorlev (levoketoconazole), an oral therapy for endogenous hypercortisolemia associated with Cushing’s syndrome.

Further Reading

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