Xeris Biopharma (NASDAQ:XERS) Stock Jumps 9.2% – What’s Next?

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) was up 9.2% during trading on Monday. The stock traded as high as $9.80 and last traded at $9.9170. Approximately 1,032,657 shares changed hands during trading, a decline of 48% from the average session volume of 1,985,187 shares. The stock had previously closed at $9.08.

Analyst Upgrades and Downgrades

XERS has been the topic of a number of recent analyst reports. Barclays upped their price target on shares of Xeris Biopharma from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday. Weiss Ratings downgraded shares of Xeris Biopharma from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Leerink Partners upped their target price on shares of Xeris Biopharma from $12.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday, September 10th. Finally, Wall Street Zen raised Xeris Biopharma from a “hold” rating to a “buy” rating in a research note on Saturday, September 19th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Xeris Biopharma currently has a consensus rating of “Hold” and an average price target of $13.20.

Xeris Biopharma Stock Down 0.6%

The firm has a fifty day simple moving average of $8.54 and a 200 day simple moving average of $7.38. The company has a market cap of $1.84 billion, a PE ratio of -91.55 and a beta of 0.53. The company has a debt-to-equity ratio of 17.00, a quick ratio of 1.02 and a current ratio of 1.45.

Xeris Biopharma (NASDAQ:XERS) last issued its earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.19). Xeris Biopharma had a positive return on equity of 338.21% and a negative net margin of 5.12%.The firm had revenue of $92.10 million during the quarter, compared to analysts’ expectations of $90.12 million. Equities research analysts predict that Xeris Biopharma Holdings, Inc. will post 0.07 EPS for the current year.

Insiders Place Their Bets

In other news, insider Steven Pieper sold 5,000 shares of Xeris Biopharma stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $9.41, for a total value of $47,050.00. Following the completion of the transaction, the insider directly owned 1,351,053 shares of the company’s stock, valued at approximately $12,713,408.73. The trade was a 0.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Beth Hecht sold 16,666 shares of the stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $9.41, for a total transaction of $156,827.06. Following the sale, the insider owned 1,111,130 shares in the company, valued at approximately $10,455,733.30. This trade represents a 1.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 134,998 shares of company stock valued at $1,202,666 in the last quarter. Insiders own 4.35% of the company’s stock.

Institutional Investors Weigh In On Xeris Biopharma

A number of hedge funds have recently added to or reduced their stakes in XERS. Allworth Financial LP acquired a new stake in shares of Xeris Biopharma in the second quarter valued at approximately $34,000. KBC Group NV acquired a new position in Xeris Biopharma during the 1st quarter worth $27,000. State of Wyoming bought a new stake in shares of Xeris Biopharma during the second quarter valued at about $52,000. Integrated Wealth Concepts LLC acquired a new stake in Xeris Biopharma in the second quarter worth about $74,000. Finally, Kingsview Wealth Management LLC acquired a new stake in Xeris Biopharma in the second quarter worth about $79,000. 42.75% of the stock is currently owned by institutional investors.

Xeris Biopharma Company Profile

Xeris Biopharma, Inc is a specialty pharmaceutical company focused on developing and commercializing therapies for patients with endocrinology, gastroenterology, and related rare or chronic conditions. The company uses proprietary formulation technologies designed to deliver medicines that are difficult to formulate or administer through conventional methods, including its XeriSol and XeriJect platforms.

Xeris’ commercial portfolio includes Gvoke, a ready-to-use glucagon injection used to treat severe hypoglycemia; Keveyis (dichlorphenamide), a treatment for primary periodic paralysis; and Recorlev (levoketoconazole), an oral therapy for endogenous hypercortisolemia associated with Cushing’s syndrome.