Brokerages Set Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) Price Target at $10.80

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) has been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $10.80.

Separately, Weiss Ratings upgraded Xeris Biopharma from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, July 23rd.

Xeris Biopharma Stock Down 9.2%

Shares of NASDAQ XERS opened at $7.36 on Friday. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 122.67 and a beta of 0.66. The company’s 50-day simple moving average is $7.64 and its 200-day simple moving average is $6.79. The company has a quick ratio of 1.50, a current ratio of 2.12 and a debt-to-equity ratio of 17.00. Xeris Biopharma has a 52-week low of $5.25 and a 52-week high of $10.08.

Xeris Biopharma (NASDAQ:XERS) 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 return on equity of 735.00% and a net margin of 3.81%.The company had revenue of $92.10 million for the quarter, compared to analyst estimates of $90.12 million. Equities analysts predict that Xeris Biopharma will post 0.12 EPS for the current fiscal year.

Insider Transactions at Xeris Biopharma

In related news, Director Dawn Halkuff sold 20,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $6.09, for a total transaction of $121,800.00. Following the transaction, the director directly owned 95,000 shares in the company, valued at approximately $578,550. The trade was a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Pieper sold 27,600 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $8.52, for a total transaction of $235,152.00. Following the sale, the insider directly owned 1,366,053 shares of the company’s stock, valued at approximately $11,638,771.56. This represents a 1.98% 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. In the last quarter, insiders sold 266,499 shares of company stock valued at $1,996,417. Company insiders own 4.35% of the company’s stock.

Hedge Funds Weigh In On Xeris Biopharma

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new stake in shares of Xeris Biopharma during the 2nd quarter worth approximately $3,868,000. State of Wyoming acquired a new position in Xeris Biopharma in the second quarter valued at approximately $52,000. GSA Capital Partners LLP purchased a new position in Xeris Biopharma in the second quarter worth approximately $656,000. Walleye Capital LLC acquired a new stake in Xeris Biopharma during the second quarter worth $4,841,000. Finally, Bank of America Corp DE raised its position in Xeris Biopharma by 21.8% in the first quarter. Bank of America Corp DE now owns 874,397 shares of the company’s stock valued at $5,072,000 after purchasing an additional 156,483 shares during the period. 42.75% of the stock is currently owned by institutional investors and hedge funds.

Xeris Biopharma Company Profile

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.