Wall Street Zen Upgrades Xeris Biopharma (NASDAQ:XERS) to Buy

Xeris Biopharma (NASDAQ:XERS) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other research analysts have also recently issued reports about the company. Barclays upped their price objective on Xeris Biopharma from $9.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, August 20th. Weiss Ratings lowered Xeris Biopharma from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Finally, Leerink Partners boosted their target price on Xeris Biopharma from $12.00 to $16.00 and gave the company an “outperform” rating in a research note on Thursday, September 10th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $12.80.

Xeris Biopharma Price Performance

XERS opened at $8.20 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.45 and a debt-to-equity ratio of 17.00. Xeris Biopharma has a 12 month low of $5.25 and a 12 month high of $10.08. The company has a fifty day simple moving average of $8.33 and a 200 day simple moving average of $7.07. The stock has a market cap of $1.50 billion, a P/E ratio of -74.55 and a beta of 0.70.

Xeris Biopharma (NASDAQ:XERS) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.19). Xeris Biopharma had a negative net margin of 5.12% and a positive return on equity of 338.21%. The business had revenue of $92.10 million during the quarter, compared to analyst estimates of $90.12 million. On average, research analysts expect that Xeris Biopharma will post 0.07 EPS for the current year.

Insider Buying and Selling at Xeris Biopharma

In other news, insider Steven Pieper sold 5,000 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $8.50, for a total transaction of $42,500.00. Following the completion of the transaction, the insider directly owned 1,356,053 shares in the company, valued at $11,526,450.50. This represents a 0.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Beth Hecht sold 16,666 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $8.49, for a total value of $141,494.34. Following the completion of the transaction, the insider owned 1,127,796 shares of the company’s stock, valued at $9,574,988.04. The trade was a 1.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 224,998 shares of company stock worth $1,847,219. Insiders own 4.35% of the company’s stock.

Institutional Trading of Xeris Biopharma

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of Xeris Biopharma during the 2nd quarter worth approximately $115,042,000. Wellington Management Group LLP boosted its holdings in shares of Xeris Biopharma by 8.9% in the 2nd quarter. Wellington Management Group LLP now owns 2,365,103 shares of the company’s stock valued at $18,732,000 after buying an additional 193,749 shares during the last quarter. Legal & General Group Plc acquired a new stake in shares of Xeris Biopharma in the 2nd quarter valued at approximately $15,941,000. Parkman Healthcare Partners LLC acquired a new stake in shares of Xeris Biopharma in the 2nd quarter valued at approximately $14,316,000. Finally, Algert Global LLC grew its stake in shares of Xeris Biopharma by 50.6% in the second quarter. Algert Global LLC now owns 1,742,942 shares of the company’s stock valued at $13,804,000 after buying an additional 585,984 shares in the last quarter. Institutional investors own 42.75% of the company’s stock.

Xeris Biopharma Company Profile

Xeris Biopharma Holdings, Inc (NASDAQ:XERS) is a specialty pharmaceutical company focused on developing and commercializing therapies using proprietary formulation and drug-delivery technologies. Its platforms, including XeriSol and XeriJect, are designed to enable liquid or ready-to-use formulations of medicines that may otherwise require refrigeration, reconstitution, or administration by a healthcare professional.

The company’s commercial products include Gvoke, a ready-to-use glucagon injection for the treatment of severe hypoglycemia; Keveyis (dichlorphenamide), an oral therapy for primary periodic paralysis; and Recorlev (levoketoconazole), an oral treatment for endogenous hypercortisolemia in adults with Cushing’s syndrome.