Xeris Biopharma (NASDAQ:XERS) Shares Up 5.4% – What’s Next?

Shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) were up 5.4% during trading on Thursday . The company traded as high as $5.64 and last traded at $5.5850. Approximately 765,476 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 2,008,487 shares. The stock had previously closed at $5.30.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on XERS. Weiss Ratings raised shares of Xeris Biopharma from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday, March 4th. Barclays started coverage on shares of Xeris Biopharma in a research note on Monday, December 8th. They issued an “overweight” rating and a $9.00 price objective for the company. HC Wainwright restated a “buy” rating and issued a $10.00 target price on shares of Xeris Biopharma in a research report on Monday, March 2nd. Finally, Wall Street Zen upgraded shares of Xeris Biopharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 7th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.80.

Xeris Biopharma Stock Performance

The company has a fifty day moving average price of $6.57 and a two-hundred day moving average price of $7.38. The company has a debt-to-equity ratio of 16.10, a current ratio of 2.19 and a quick ratio of 1.57. The company has a market capitalization of $959.57 million, a P/E ratio of -561.94 and a beta of 0.61.

Xeris Biopharma (NASDAQ:XERS) last announced its quarterly earnings results on Monday, March 2nd. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. The firm had revenue of $85.81 million during the quarter, compared to analysts’ expectations of $86.00 million. Xeris Biopharma had a net margin of 0.19% and a negative return on equity of 5.33%. Equities analysts forecast that Xeris Biopharma Holdings, Inc. will post -0.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Xeris Biopharma news, insider Beth Hecht sold 16,667 shares of Xeris Biopharma stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $7.43, for a total transaction of $123,835.81. Following the transaction, the insider directly owned 1,308,103 shares of the company’s stock, valued at approximately $9,719,205.29. The trade was a 1.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Patrick Shannon, Jr. sold 24,907 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $7.08, for a total value of $176,341.56. Following the completion of the sale, the insider directly owned 2,705,346 shares of the company’s stock, valued at approximately $19,153,849.68. The trade was a 0.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 89,908 shares of company stock valued at $648,515 in the last three months. Insiders own 6.47% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of XERS. Calamos Advisors LLC acquired a new position in shares of Xeris Biopharma in the 3rd quarter valued at about $1,116,000. Voya Investment Management LLC grew its stake in Xeris Biopharma by 866.6% during the third quarter. Voya Investment Management LLC now owns 400,079 shares of the company’s stock worth $3,257,000 after purchasing an additional 358,689 shares during the period. Divisadero Street Capital Management LP acquired a new stake in Xeris Biopharma during the third quarter worth approximately $3,308,000. Squarepoint Ops LLC increased its holdings in Xeris Biopharma by 1,679.1% in the second quarter. Squarepoint Ops LLC now owns 284,567 shares of the company’s stock worth $1,329,000 after purchasing an additional 268,572 shares in the last quarter. Finally, Granahan Investment Management LLC acquired a new position in Xeris Biopharma in the third quarter valued at approximately $2,850,000. Institutional investors and hedge funds own 42.75% of the company’s stock.

About Xeris Biopharma

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.