Xeris Biopharma (NASDAQ:XERS) Trading 5.8% Higher – Still a Buy?

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) shares traded up 5.8% during mid-day trading on Tuesday . The company traded as high as $8.84 and last traded at $8.8550. 791,879 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 1,892,608 shares. The stock had previously closed at $8.37.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Xeris Biopharma from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $10.80.

Xeris Biopharma Stock Performance

The company’s 50-day simple moving average is $6.65 and its 200-day simple moving average is $6.64. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 147.43 and a beta of 0.62. The company has a current ratio of 2.12, a quick ratio of 1.50 and a debt-to-equity ratio of 17.00.

Xeris Biopharma (NASDAQ:XERS) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.01 EPS for the quarter. Xeris Biopharma had a net margin of 3.81% and a return on equity of 735.00%. The company had revenue of $83.13 million for the quarter, compared to analyst estimates of $79.83 million. On average, analysts expect that Xeris Biopharma Holdings, Inc. will post 0.12 EPS for the current year.

Insider Activity

In other news, insider Beth Hecht sold 16,667 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $6.06, for a total transaction of $101,002.02. Following the completion of the transaction, the insider directly owned 1,176,506 shares in the company, valued at $7,129,626.36. This trade represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin Mcculloch sold 90,000 shares of Xeris Biopharma stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $8.03, for a total value of $722,700.00. Following the completion of the transaction, the insider directly owned 1,691,126 shares in the company, valued at approximately $13,579,741.78. This represents a 5.05% decrease in their ownership of the stock. 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. In the last three months, insiders sold 206,500 shares of company stock worth $1,463,405. 4.35% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Xeris Biopharma by 13.8% in the 4th quarter. Vanguard Group Inc. now owns 11,186,677 shares of the company’s stock valued at $87,815,000 after buying an additional 1,358,760 shares during the period. Geode Capital Management LLC boosted its holdings in Xeris Biopharma by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 4,275,989 shares of the company’s stock worth $33,571,000 after acquiring an additional 135,815 shares in the last quarter. State Street Corp boosted its holdings in Xeris Biopharma by 10.1% in the fourth quarter. State Street Corp now owns 4,116,924 shares of the company’s stock worth $32,318,000 after acquiring an additional 378,595 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in Xeris Biopharma by 6.0% in the third quarter. Qube Research & Technologies Ltd now owns 3,274,834 shares of the company’s stock valued at $26,657,000 after acquiring an additional 185,063 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in Xeris Biopharma by 75.4% in the first quarter. Goldman Sachs Group Inc. now owns 2,790,014 shares of the company’s stock valued at $15,317,000 after acquiring an additional 1,199,435 shares during the period. Institutional investors own 42.75% of the company’s stock.

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.