Xeris Biopharma (NASDAQ:XERS) Stock Price Up 5.6% – Here’s What Happened

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS)’s stock price shot up 5.6% on Tuesday . The stock traded as high as $7.24 and last traded at $7.2850. Approximately 558,454 shares changed hands during trading, a decline of 69% from the average session volume of 1,822,623 shares. The stock had previously closed at $6.90.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wall Street Zen raised Xeris Biopharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 7th. Weiss Ratings lowered shares of Xeris Biopharma from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Finally, HC Wainwright restated a “buy” rating and issued a $10.00 price target on shares of Xeris Biopharma in a research report on Monday, March 2nd. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $10.80.

Xeris Biopharma Price Performance

The stock has a market cap of $1.24 billion, a P/E ratio of 120.08 and a beta of 0.78. The business has a 50-day simple moving average of $6.30 and a 200 day simple moving average of $6.57. The company has a current ratio of 2.12, a quick ratio of 1.50 and a debt-to-equity ratio of 17.00.

Xeris Biopharma (NASDAQ:XERS) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.01 earnings per share (EPS) for the quarter. Xeris Biopharma had a return on equity of 735.00% and a net margin of 3.81%.The company had revenue of $83.13 million during the quarter, compared to the consensus estimate of $79.83 million. On average, analysts forecast that Xeris Biopharma Holdings, Inc. will post 0.12 earnings per share for the current year.

Insider Activity

In other news, Director Dawn Halkuff sold 20,000 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $6.09, for a total transaction of $121,800.00. Following the completion of the sale, the director directly owned 95,000 shares in the company, valued at $578,550. This represents a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Beth Hecht sold 16,667 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $6.06, for a total transaction of $101,002.02. Following the sale, the insider owned 1,176,506 shares of the company’s stock, valued at approximately $7,129,626.36. This trade represents a 1.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 127,335 shares of company stock worth $766,733. 4.35% of the stock is owned by insiders.

Institutional Trading of Xeris Biopharma

A number of institutional investors have recently bought and sold shares of the company. UBS Group AG raised its position in shares of Xeris Biopharma by 682.4% in the 3rd quarter. UBS Group AG now owns 1,782,734 shares of the company’s stock worth $14,511,000 after acquiring an additional 1,554,869 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Xeris Biopharma by 13.8% during the 4th quarter. Vanguard Group Inc. now owns 11,186,677 shares of the company’s stock valued at $87,815,000 after purchasing an additional 1,358,760 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in Xeris Biopharma by 67.5% during the second quarter. Qube Research & Technologies Ltd now owns 3,089,771 shares of the company’s stock worth $14,429,000 after purchasing an additional 1,245,188 shares during the period. Goldman Sachs Group Inc. grew its stake in Xeris Biopharma by 75.4% during the first quarter. Goldman Sachs Group Inc. now owns 2,790,014 shares of the company’s stock worth $15,317,000 after purchasing an additional 1,199,435 shares during the period. Finally, Granahan Investment Management LLC increased its holdings in Xeris Biopharma by 249.4% in the fourth quarter. Granahan Investment Management LLC now owns 1,223,404 shares of the company’s stock worth $9,604,000 after purchasing an additional 873,236 shares in the last quarter. Institutional investors 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.