Xeris Pharmaceuticals (NASDAQ:XERS) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Xeris Pharmaceuticals (NASDAQ:XERS) from a hold rating to a buy rating in a research note issued to investors on Saturday morning, Zacks.com reports. They currently have $6.00 target price on the stock.

According to Zacks, “Xeris Pharmaceuticals, Inc. produces peptides, proteins, antibodies, molecules, auto-injectors, multi-dose pens and infusion pumps to treat endocrine and metabolic diseases. The company’s proprietary formulation technologies consist of XeriSol (TM) and XeriJect(TM). Xeris Pharmaceuticals, Inc. is based in Chicago, United States. “

XERS has been the topic of several other research reports. Mizuho reissued a buy rating and set a $14.00 price target on shares of Xeris Pharmaceuticals in a research report on Tuesday, May 26th. ValuEngine raised shares of Xeris Pharmaceuticals from a buy rating to a strong-buy rating in a research report on Saturday, May 30th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $12.50.

Shares of XERS opened at $2.68 on Friday. Xeris Pharmaceuticals has a 52-week low of $1.42 and a 52-week high of $12.94. The company has a quick ratio of 4.72, a current ratio of 4.82 and a debt-to-equity ratio of 2.16. The firm’s fifty day moving average is $4.60 and its two-hundred day moving average is $4.39. The stock has a market cap of $94.35 million, a PE ratio of -0.58 and a beta of 2.10.

Xeris Pharmaceuticals (NASDAQ:XERS) last announced its earnings results on Thursday, May 7th. The company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $0.03. The company had revenue of $1.68 million for the quarter, compared to analysts’ expectations of $1.82 million. Xeris Pharmaceuticals had a negative net margin of 3,100.00% and a negative return on equity of 323.82%. As a group, research analysts anticipate that Xeris Pharmaceuticals will post -3.06 earnings per share for the current year.

In other Xeris Pharmaceuticals news, insider Paul R. Edick purchased 33,000 shares of the business’s stock in a transaction on Friday, May 8th. The shares were bought at an average cost of $3.54 per share, for a total transaction of $116,820.00. Following the completion of the purchase, the insider now directly owns 95,493 shares of the company’s stock, valued at $338,045.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Patrick Shannon, Jr. purchased 22,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were acquired at an average price of $3.55 per share, for a total transaction of $78,100.00. Following the completion of the purchase, the insider now directly owns 117,493 shares of the company’s stock, valued at $417,100.15. The disclosure for this purchase can be found here. 5.95% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of XERS. Marshall Wace LLP purchased a new stake in shares of Xeris Pharmaceuticals during the first quarter worth approximately $245,000. Marshall Wace North America L.P. purchased a new stake in shares of Xeris Pharmaceuticals during the first quarter worth approximately $71,000. FMR LLC increased its stake in shares of Xeris Pharmaceuticals by 29.9% during the first quarter. FMR LLC now owns 2,963,018 shares of the company’s stock worth $29,749,000 after buying an additional 682,050 shares during the period. California Public Employees Retirement System purchased a new stake in shares of Xeris Pharmaceuticals during the fourth quarter worth approximately $301,000. Finally, State Street Corp increased its stake in shares of Xeris Pharmaceuticals by 7.3% during the fourth quarter. State Street Corp now owns 500,401 shares of the company’s stock worth $3,528,000 after buying an additional 33,950 shares during the period. Institutional investors own 62.48% of the company’s stock.

Xeris Pharmaceuticals Company Profile

Xeris Pharmaceuticals, Inc, a specialty pharmaceutical company, develops and commercializes ready-to-use injectable and infusible drug formulations. Its proprietary XeriSol and XeriJect formulation technologies allow for the subcutaneous and intramuscular delivery of highly-concentrated, ready-to-use formulations of peptides, proteins, antibodies, and small molecules using commercially available syringes, auto-injectors, multi-dose pens, and infusion pumps.

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