Xeris Biopharma (NASDAQ:XERS) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Xeris Biopharma (NASDAQ:XERS) from a hold rating to a buy rating in a research note released on Saturday morning,Wall Street Zen reports.

Other equities analysts have also issued reports about the stock. Weiss Ratings lowered shares of Xeris Biopharma from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Barclays lifted their target price on shares of Xeris Biopharma from $9.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, August 20th. Finally, Leerink Partners upped their price target on shares of Xeris Biopharma from $12.00 to $16.00 and gave the company an “outperform” rating in a research note on Thursday, September 10th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Xeris Biopharma has a consensus rating of “Hold” and a consensus price target of $12.80.

Xeris Biopharma Stock Performance

XERS opened at $8.20 on Friday. Xeris Biopharma has a 12-month low of $5.25 and a 12-month high of $10.08. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -74.55 and a beta of 0.70. The business has a 50 day moving average of $8.33 and a 200-day moving average of $7.07. The company has a quick ratio of 1.02, a current ratio of 1.45 and a debt-to-equity ratio of 17.00.

Xeris Biopharma (NASDAQ:XERS) last posted its earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.19). Xeris Biopharma had a positive return on equity of 338.21% and a negative net margin of 5.12%.The business had revenue of $92.10 million for the quarter, compared to analyst estimates of $90.12 million. On average, equities research analysts expect that Xeris Biopharma will post 0.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Beth Hecht sold 16,666 shares of the firm’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 transaction, the insider directly owned 1,127,796 shares of the company’s stock, valued at approximately $9,574,988.04. This trade represents a 1.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 shares were sold at an average price of $8.03, for a total transaction of $722,700.00. Following the completion of the sale, the insider owned 1,691,126 shares of the company’s stock, valued at approximately $13,579,741.78. The trade was 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. Insiders have sold a total of 224,998 shares of company stock worth $1,847,219 in the last quarter. Corporate insiders own 4.35% of the company’s stock.

Hedge Funds Weigh In On Xeris Biopharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Xeris Biopharma during the 2nd quarter valued at $115,042,000. Wellington Management Group LLP increased its position in shares of Xeris Biopharma by 8.9% in the second quarter. Wellington Management Group LLP now owns 2,365,103 shares of the company’s stock worth $18,732,000 after purchasing an additional 193,749 shares during the period. Legal & General Group Plc bought a new position in shares of Xeris Biopharma in the second quarter worth $15,941,000. Parkman Healthcare Partners LLC acquired a new position in Xeris Biopharma in the second quarter valued at about $14,316,000. Finally, Algert Global LLC raised its stake in Xeris Biopharma by 50.6% in the second quarter. Algert Global LLC now owns 1,742,942 shares of the company’s stock valued at $13,804,000 after purchasing an additional 585,984 shares in the last quarter. 42.75% of the stock is owned by institutional investors and hedge funds.

Xeris Biopharma Company Profile

Xeris Biopharma Holdings, Inc (NASDAQ:XERS) is a specialty pharmaceutical company focused on developing and commercializing therapies using proprietary formulation and drug-delivery technologies. Its platforms, including XeriSol and XeriJect, are designed to enable liquid or ready-to-use formulations of medicines that may otherwise require refrigeration, reconstitution, or administration by a healthcare professional.

The company’s commercial products include Gvoke, a ready-to-use glucagon injection for the treatment of severe hypoglycemia; Keveyis (dichlorphenamide), an oral therapy for primary periodic paralysis; and Recorlev (levoketoconazole), an oral treatment for endogenous hypercortisolemia in adults with Cushing’s syndrome.