Xeris Biopharma (NASDAQ:XERS) Hits New 1-Year High After Better-Than-Expected Earnings

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) shares hit a new 52-week high during trading on Thursday following a stronger than expected earnings report. The company traded as high as $12.11 and last traded at $12.8150, with a volume of 122,067 shares. The stock had previously closed at $10.46.

The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. Xeris Biopharma had a positive return on equity of 338.21% and a negative net margin of 5.12%. The business had revenue of $107.23 million for the quarter, compared to analyst estimates of $101.68 million.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on XERS shares. Leerink Partners boosted their price target on shares of Xeris Biopharma from $12.00 to $16.00 and gave the company an “outperform” rating in a research report on Thursday, September 10th. Wall Street Zen raised shares of Xeris Biopharma from a “hold” rating to a “buy” rating in a research note on Saturday, September 19th. Weiss Ratings lowered Xeris Biopharma from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Finally, Barclays boosted their price objective on Xeris Biopharma from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, October 6th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $13.20.

Insiders Place Their Bets

In other Xeris Biopharma news, insider Steven Pieper sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $10.23, for a total value of $51,150.00. Following the sale, the insider owned 1,346,053 shares in the company, valued at approximately $13,770,122.19. This trade represents a 0.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $10.23, for a total value of $153,450.00. Following the completion of the transaction, the insider directly owned 1,584,208 shares of the company’s stock, valued at approximately $16,206,447.84. The trade was a 0.94% 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. Over the last three months, insiders have sold 148,332 shares of company stock valued at $1,409,221. Company insiders own 4.35% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vilga Financial Planning LLC bought a new stake in shares of Xeris Biopharma in the 3rd quarter worth about $10,134,000. Legal & General Group Plc bought a new stake in Xeris Biopharma during the 2nd quarter worth about $15,941,000. Walleye Capital LLC acquired a new stake in shares of Xeris Biopharma in the second quarter valued at approximately $4,841,000. Canada Pension Plan Investment Board acquired a new stake in Xeris Biopharma during the second quarter worth approximately $1,736,000. Finally, Bank of America Corp DE bought a new position in Xeris Biopharma during the second quarter worth about $11,065,000. 42.75% of the stock is owned by institutional investors and hedge funds.

Xeris Biopharma Price Performance

The company has a quick ratio of 1.02, a current ratio of 1.45 and a debt-to-equity ratio of 17.00. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of -120.00 and a beta of 0.61. The business’s 50 day simple moving average is $9.40 and its 200-day simple moving average is $7.55.

About Xeris Biopharma

Xeris Biopharma, Inc is a specialty pharmaceutical company focused on developing and commercializing therapies for patients with endocrinology, gastroenterology and other serious or chronic conditions. The company uses proprietary formulation and delivery technologies designed to make complex therapies more stable, convenient and suitable for self-administration.

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