Xeris Biopharma (NASDAQ:XERS) Sets New 1-Year High – Time to Buy?

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS)’s share price reached a new 52-week high during mid-day trading on Tuesday. The stock traded as high as $10.09 and last traded at $10.0250, with a volume of 1423038 shares changing hands. The stock had previously closed at $9.83.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Barclays upped their target price on shares of Xeris Biopharma from $9.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, August 20th. Weiss Ratings downgraded shares of Xeris Biopharma from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Wall Street Zen upgraded shares of Xeris Biopharma from a “hold” rating to a “buy” rating in a research note on Saturday, September 19th. Finally, Leerink Partners increased their price objective on shares of Xeris Biopharma from $12.00 to $16.00 and gave the company an “outperform” rating in a report on Thursday, September 10th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $12.80.

Xeris Biopharma Trading Down 4.2%

The company has a quick ratio of 1.02, a current ratio of 1.45 and a debt-to-equity ratio of 17.00. The stock’s 50 day moving average is $8.43 and its 200-day moving average is $7.26. The company has a market cap of $1.74 billion, a PE ratio of -86.91 and a beta of 0.70.

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). The business had revenue of $92.10 million during the quarter, compared to the consensus estimate of $90.12 million. Xeris Biopharma had a positive return on equity of 338.21% and a negative net margin of 5.12%. As a group, sell-side analysts anticipate that Xeris Biopharma Holdings, Inc. will post 0.07 EPS for the current year.

Insiders Place Their Bets

In related news, insider Steven Pieper sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $8.50, for a total value of $42,500.00. Following the completion of the sale, the insider directly owned 1,356,053 shares in the company, valued at $11,526,450.50. This trade represents a 0.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Beth Hecht sold 16,666 shares of Xeris Biopharma stock in a transaction on Tuesday, September 1st. The stock was 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 $9,574,988.04. The trade was a 1.46% 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 143,332 shares of company stock valued at $1,240,691 over the last ninety days. 4.35% of the stock is owned by insiders.

Hedge Funds Weigh In On Xeris Biopharma

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Xeris Biopharma during the 2nd quarter valued at $115,042,000. Legal & General Group Plc purchased a new stake in shares of Xeris Biopharma during the second quarter valued at $15,941,000. Parkman Healthcare Partners LLC purchased a new position in Xeris Biopharma in the 2nd quarter worth about $14,316,000. Bank of America Corp DE bought a new stake in Xeris Biopharma during the 2nd quarter valued at about $11,065,000. Finally, Granahan Investment Management LLC grew its stake in Xeris Biopharma by 249.4% in the 4th quarter. Granahan Investment Management LLC now owns 1,223,404 shares of the company’s stock worth $9,604,000 after acquiring an additional 873,236 shares in the last quarter. 42.75% of the stock is currently owned by institutional investors.

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.