Xeris Biopharma (NASDAQ:XERS) Trading Down 8.7% – Time to Sell?

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) was down 8.7% on Wednesday . The stock traded as low as $7.72 and last traded at $7.7440. Approximately 1,647,458 shares were traded during trading, a decline of 10% from the average session volume of 1,833,908 shares. The stock had previously closed at $8.48.

Analysts Set New Price Targets

A number of brokerages recently issued reports on XERS. Weiss Ratings downgraded Xeris Biopharma from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Barclays upped their price target on shares of Xeris Biopharma from $9.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, August 20th. Finally, Wall Street Zen cut shares of Xeris Biopharma from a “buy” rating to a “hold” rating in a research note on Saturday. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $12.00.

Xeris Biopharma Stock Performance

The firm’s 50-day moving average price is $8.43 and its 200-day moving average price is $7.00. The company has a debt-to-equity ratio of 17.00, a current ratio of 1.45 and a quick ratio of 1.02. The stock has a market cap of $1.41 billion, a P/E ratio of -70.41 and a beta of 0.70.

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

Insider Buying and Selling at Xeris Biopharma

In other Xeris Biopharma news, insider Beth Hecht sold 16,666 shares of Xeris Biopharma stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $8.49, for a total value of $141,494.34. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available 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 on 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 in the company, valued at approximately $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. Insiders sold 224,998 shares of company stock worth $1,847,219 in the last quarter. 4.35% of the stock is owned by corporate insiders.

Institutional Trading of Xeris Biopharma

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its position in Xeris Biopharma by 1,411.2% during the first quarter. Royal Bank of Canada now owns 213,084 shares of the company’s stock valued at $1,170,000 after acquiring an additional 198,984 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Xeris Biopharma by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,982 shares of the company’s stock worth $461,000 after purchasing an additional 3,594 shares during the period. Millennium Management LLC lifted its stake in Xeris Biopharma by 19.0% in the first quarter. Millennium Management LLC now owns 2,317,972 shares of the company’s stock worth $12,726,000 after purchasing an additional 369,420 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Xeris Biopharma by 75.4% during the first quarter. Goldman Sachs Group Inc. now owns 2,790,014 shares of the company’s stock valued at $15,317,000 after buying an additional 1,199,435 shares during the last quarter. Finally, Caxton Associates LLP bought a new stake in shares of Xeris Biopharma during the 1st quarter worth approximately $170,000. Hedge funds and other institutional investors own 42.75% of the company’s stock.

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.