Xeris Biopharma (NASDAQ:XERS) Hits New 12-Month High – Still a Buy?

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) hit a new 52-week high during mid-day trading on Tuesday. The stock traded as high as $10.09 and last traded at $10.0250, with a volume of 1423038 shares changing hands. The stock had previously closed at $9.83.

Analyst Ratings Changes

Several research firms have recently commented on XERS. Weiss Ratings lowered Xeris Biopharma from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded Xeris Biopharma from a “hold” rating to a “buy” rating in a research note on Saturday, September 19th. Barclays raised their price target on shares of Xeris Biopharma from $9.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, August 20th. Finally, Leerink Partners boosted their price objective on shares of Xeris Biopharma from $12.00 to $16.00 and gave the stock 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $12.80.

Xeris Biopharma Trading Up 0.4%

The company has a 50 day moving average of $8.38 and a two-hundred day moving average of $7.20. The stock has a market capitalization of $1.80 billion, a PE ratio of -94.18 and a beta of 0.70. 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 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 positive return on equity of 338.21% and a negative net margin of 5.12%.The business had revenue of $92.10 million during the quarter, compared to analyst estimates of $90.12 million. Sell-side analysts predict that Xeris Biopharma Holdings, Inc. will post 0.07 EPS for the current year.

Insider Buying and Selling

In other Xeris Biopharma news, insider Beth Hecht sold 16,666 shares of Xeris Biopharma stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $8.49, for a total transaction of $141,494.34. Following the completion of the sale, the insider owned 1,127,796 shares of the company’s stock, valued at approximately $9,574,988.04. The trade was a 1.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin McCulloch sold 15,000 shares of the business’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 $127,350.00. Following the sale, the insider owned 1,639,208 shares in the company, valued at approximately $13,916,875.92. The trade was a 0.91% 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 sold 224,998 shares of company stock worth $1,847,219 in the last three months. Corporate insiders own 4.35% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Xeris Biopharma in the 2nd quarter worth approximately $115,042,000. Wellington Management Group LLP lifted its stake 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 purchasing an additional 193,749 shares during the period. Legal & General Group Plc purchased a new stake in Xeris Biopharma during the second quarter worth $15,941,000. Parkman Healthcare Partners LLC acquired a new stake in Xeris Biopharma during the second quarter valued at $14,316,000. Finally, Algert Global LLC increased its holdings in 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. 42.75% of the stock is currently owned by institutional investors and hedge funds.

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.