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

by · The Markets Daily

Wall Street Zen downgraded shares of Xeris Biopharma (NASDAQ:XERS – Free Report) from a strong-buy rating to a buy rating in a research report released on Saturday morning.

Separately, Weiss Ratings upgraded Xeris Biopharma from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 23rd. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.80.

Check Out Our Latest Report on XERS

Xeris Biopharma Price Performance

Shares of Xeris Biopharma stock opened at $7.99 on Friday. The company has a quick ratio of 1.50, a current ratio of 2.12 and a debt-to-equity ratio of 17.00. The company has a market cap of $1.38 billion, a PE ratio of -72.64 and a beta of 0.66. The business has a 50 day moving average of $7.72 and a 200 day moving average of $6.80. Xeris Biopharma has a 52 week low of $5.25 and a 52 week high of $10.08.

Xeris Biopharma (NASDAQ:XERS – Get Free Report) last released its quarterly 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 negative net margin of 5.12% and a positive return on equity of 158.10%. The company had revenue of $92.10 million during the quarter, compared to the consensus estimate of $90.12 million. As a group, equities research analysts forecast that Xeris Biopharma will post 0.03 earnings per share for the current year.

Insider Transactions at Xeris Biopharma

In related news, insider Kevin Mcculloch sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $8.02, for a total value of $120,300.00. Following the sale, the insider owned 1,676,126 shares in the company, valued at $13,442,530.52. This represents a 0.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Pieper sold 27,600 shares of Xeris Biopharma stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $8.52, for a total value of $235,152.00. Following the transaction, the insider owned 1,366,053 shares of the company’s stock, valued at $11,638,771.56. The trade was a 1.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 266,499 shares of company stock worth $1,996,417. Company insiders own 4.35% of the company’s stock.

Hedge Funds Weigh In On Xeris Biopharma

Several large investors have recently modified their holdings of XERS. Kestra Advisory Services LLC bought a new stake in Xeris Biopharma during the 4th quarter valued at about $25,000. KBC Group NV purchased a new position in Xeris Biopharma in the first quarter worth about $27,000. State of Wyoming bought a new position in shares of Xeris Biopharma in the second quarter worth approximately $52,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Xeris Biopharma by 9,276.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,501 shares of the company’s stock worth $59,000 after buying an additional 7,421 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Xeris Biopharma by 29.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,063 shares of the company’s stock valued at $63,000 after buying an additional 1,820 shares during the last quarter. Hedge funds and other institutional investors own 42.75% of the company’s stock.

About Xeris Biopharma

(Get Free Report)

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.

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