Xeris Biopharma (NASDAQ:XERS) Shares Gap Down – Here’s Why

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) shares gapped down prior to trading on Thursday . The stock had previously closed at $9.87, but opened at $8.40. Xeris Biopharma shares last traded at $8.0630, with a volume of 2,744,939 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Zacks Research cut shares of Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Wall Street Zen raised Xeris Biopharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 18th. Leerink Partners raised their target price on Xeris Biopharma from $7.00 to $9.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Xeris Biopharma in a report on Wednesday, October 8th. Finally, HC Wainwright assumed coverage on shares of Xeris Biopharma in a report on Tuesday, August 12th. They issued a “buy” rating and a $10.00 price target for the company. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $8.92.

Xeris Biopharma Stock Performance

The company has a market cap of $1.26 billion, a P/E ratio of -37.15 and a beta of 0.21. The stock has a 50-day moving average of $8.40 and a two-hundred day moving average of $6.34.

Xeris Biopharma (NASDAQ:XERS) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.02. The company had revenue of $67.71 million during the quarter, compared to analysts’ expectations of $64.58 million. As a group, sell-side analysts forecast that Xeris Biopharma Holdings, Inc. will post -0.41 EPS for the current fiscal year.

Insider Activity

In other news, Director Marla Persky sold 15,500 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $7.72, for a total transaction of $119,660.00. Following the completion of the transaction, the director directly owned 142,000 shares of the company’s stock, valued at approximately $1,096,240. This represents a 9.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey W. Sherman sold 42,232 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $7.92, for a total transaction of $334,477.44. Following the transaction, the director directly owned 219,188 shares of the company’s stock, valued at approximately $1,735,968.96. This trade represents a 16.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 207,732 shares of company stock valued at $1,550,437. 6.47% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Xeris Biopharma

A number of institutional investors have recently bought and sold shares of the stock. Cetera Investment Advisers raised its stake in Xeris Biopharma by 3.9% in the second quarter. Cetera Investment Advisers now owns 46,332 shares of the company’s stock worth $216,000 after buying an additional 1,735 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of Xeris Biopharma by 7.6% during the second quarter. China Universal Asset Management Co. Ltd. now owns 32,167 shares of the company’s stock valued at $150,000 after purchasing an additional 2,264 shares in the last quarter. R Squared Ltd increased its stake in shares of Xeris Biopharma by 27.7% during the first quarter. R Squared Ltd now owns 15,730 shares of the company’s stock valued at $86,000 after purchasing an additional 3,410 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Xeris Biopharma by 7.0% during the second quarter. The Manufacturers Life Insurance Company now owns 54,472 shares of the company’s stock valued at $254,000 after purchasing an additional 3,562 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Xeris Biopharma by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,982 shares of the company’s stock valued at $461,000 after purchasing an additional 3,594 shares in the last quarter. 42.75% of the stock is owned by institutional investors.

About Xeris Biopharma

Xeris Biopharma Holdings, Inc, a biopharmaceutical company, engages in developing and commercializing therapies in Illinois. The company offers Gvoke, a ready-to-use liquid-stable glucagon for the treatment of severe hypoglycemia pediatric and adult patients; Keveyis, a therapy for the treatment of hyperkalemic, hypokalemic, and related variants of primary periodic paralysis; and Recorlev, a cortisol synthesis inhibitor proved for the treatment of endogenous hypercortisolemia in adult patients with Cushing's syndrome.