Xeris Pharmaceuticals (NASDAQ:XERS) Stock Price Down 11%

Xeris Pharmaceuticals Inc (NASDAQ:XERS) shares dropped 11% during trading on Tuesday . The stock traded as low as $9.40 and last traded at $9.74, approximately 1,614,475 shares traded hands during mid-day trading. An increase of 645% from the average daily volume of 216,714 shares. The stock had previously closed at $10.94.

XERS has been the subject of a number of research reports. Mizuho reiterated a “buy” rating and set a $27.00 price objective on shares of Xeris Pharmaceuticals in a research report on Tuesday. ValuEngine raised Xeris Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th. Finally, Royal Bank of Canada set a $18.00 target price on Xeris Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, August 7th.

The company has a quick ratio of 6.00, a current ratio of 6.00 and a debt-to-equity ratio of 0.39. The company has a market cap of $291.73 million, a PE ratio of -1.95 and a beta of -0.40. The business’s fifty day moving average is $11.25 and its 200-day moving average is $10.75.

Xeris Pharmaceuticals (NASDAQ:XERS) last announced its earnings results on Tuesday, August 6th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.94) by ($0.34). Xeris Pharmaceuticals had a negative net margin of 4,876.50% and a negative return on equity of 107.65%. The business had revenue of $0.31 million for the quarter, compared to the consensus estimate of $0.20 million. Analysts forecast that Xeris Pharmaceuticals Inc will post -4.72 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of XERS. Redmile Group LLC grew its position in shares of Xeris Pharmaceuticals by 24.4% during the 1st quarter. Redmile Group LLC now owns 3,000,641 shares of the company’s stock valued at $30,126,000 after acquiring an additional 588,000 shares during the period. FMR LLC raised its holdings in Xeris Pharmaceuticals by 29.9% in the 1st quarter. FMR LLC now owns 2,963,018 shares of the company’s stock worth $29,749,000 after purchasing an additional 682,050 shares during the period. BlackRock Inc. raised its holdings in Xeris Pharmaceuticals by 19.5% in the 2nd quarter. BlackRock Inc. now owns 2,138,781 shares of the company’s stock worth $24,468,000 after purchasing an additional 348,308 shares during the period. Vanguard Group Inc. lifted its position in Xeris Pharmaceuticals by 7.1% during the second quarter. Vanguard Group Inc. now owns 1,219,153 shares of the company’s stock valued at $13,947,000 after purchasing an additional 81,209 shares in the last quarter. Finally, Invesco Ltd. purchased a new position in Xeris Pharmaceuticals during the second quarter valued at $11,440,000. Institutional investors and hedge funds own 66.15% of the company’s stock.

About Xeris Pharmaceuticals (NASDAQ:XERS)

Xeris Pharmaceuticals, Inc, a specialty pharmaceutical company, develops and commercializes ready-to-use injectable and infusible drug formulations. Its proprietary XeriSol and XeriJect formulation technologies allow for the subcutaneous and intramuscular delivery of highly-concentrated, ready-to-use formulations of peptides, proteins, antibodies, and small molecules using commercially available syringes, auto-injectors, multi-dose pens, and infusion pumps.

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