Xeris Biopharma (NASDAQ:XERS) Shares Gap Up – Still a Buy?

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $7.21, but opened at $7.62. Xeris Biopharma shares last traded at $8.0170, with a volume of 1,501,902 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently commented on XERS shares. HC Wainwright reiterated a “buy” rating and set a $10.00 price objective on shares of Xeris Biopharma in a research note on Friday, November 7th. Wall Street Zen cut Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 8th. Oppenheimer reiterated an “outperform” rating and set a $18.00 price target on shares of Xeris Biopharma in a research note on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Xeris Biopharma in a research note on Wednesday, October 8th. Finally, Zacks Research lowered Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Xeris Biopharma presently has an average rating of “Moderate Buy” and a consensus target price of $9.50.

Xeris Biopharma Stock Up 10.5%

The stock has a market cap of $1.32 billion, a PE ratio of -78.94 and a beta of 0.50. The business has a 50 day moving average price of $7.43 and a 200 day moving average price of $7.14.

Xeris Biopharma (NASDAQ:XERS) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.01). The business had revenue of $74.38 million during the quarter, compared to the consensus estimate of $74.19 million. On average, research analysts predict that Xeris Biopharma Holdings, Inc. will post -0.41 earnings per share for the current fiscal year.

Insider Activity

In other Xeris Biopharma news, insider John Patrick Shannon, Jr. sold 24,907 shares of the company’s 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 transaction, the insider owned 2,705,346 shares in the company, valued at approximately $19,153,849.68. This represents a 0.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Barbara-Jean A. Bormann-Kennedy sold 15,000 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $7.09, for a total value of $106,350.00. Following the sale, the director owned 142,500 shares in the company, valued at $1,010,325. This trade represents a 9.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 248,550 shares of company stock valued at $1,797,672. 6.47% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Xeris Biopharma

A number of large investors have recently bought and sold shares of the business. Cetera Investment Advisers boosted its position in Xeris Biopharma by 3.9% during the second quarter. Cetera Investment Advisers now owns 46,332 shares of the company’s stock worth $216,000 after purchasing an additional 1,735 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Xeris Biopharma by 7.6% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 32,167 shares of the company’s stock worth $150,000 after buying an additional 2,264 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Xeris Biopharma by 7.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 54,472 shares of the company’s stock valued at $254,000 after buying an additional 3,562 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Xeris Biopharma by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,982 shares of the company’s stock valued at $461,000 after acquiring an additional 3,594 shares during the period. Finally, Federated Hermes Inc. grew its stake in Xeris Biopharma by 0.5% in the 2nd quarter. Federated Hermes Inc. now owns 691,381 shares of the company’s stock valued at $3,229,000 after acquiring an additional 3,598 shares during the period. Institutional investors and hedge funds own 42.75% of the company’s stock.

Xeris Biopharma Company Profile

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.