Xeris Biopharma (NASDAQ:XERS) Stock Price Up 5.8% – Here’s Why

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) shares rose 5.8% during mid-day trading on Tuesday . The company traded as high as $8.84 and last traded at $8.8550. Approximately 791,879 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 1,892,608 shares. The stock had previously closed at $8.37.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of Xeris Biopharma from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Four 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. Based on data from MarketBeat.com, Xeris Biopharma has an average rating of “Hold” and a consensus target price of $10.80.

Xeris Biopharma Price Performance

The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 147.43 and a beta of 0.62. The company has a debt-to-equity ratio of 17.00, a quick ratio of 1.50 and a current ratio of 2.12. The business has a 50 day simple moving average of $6.65 and a 200-day simple moving average of $6.64.

Xeris Biopharma (NASDAQ:XERS) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.01 EPS for the quarter. Xeris Biopharma had a return on equity of 735.00% and a net margin of 3.81%.The firm had revenue of $83.13 million during the quarter, compared to the consensus estimate of $79.83 million. Equities research analysts expect that Xeris Biopharma Holdings, Inc. will post 0.12 earnings per share for the current 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 on Wednesday, July 1st. The shares were sold at an average price of $8.03, for a total transaction of $133,827.98. Following the transaction, the insider directly owned 1,161,128 shares of the company’s stock, valued at $9,323,857.84. The trade was a 1.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John Johnson sold 15,000 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $6.09, for a total transaction of $91,350.00. Following the completion of the sale, the director owned 683,083 shares of the company’s stock, valued at approximately $4,159,975.47. The trade was a 2.15% 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 have sold a total of 206,500 shares of company stock valued at $1,463,405 in the last three months. Insiders own 4.35% of the company’s stock.

Institutional Investors Weigh In On Xeris Biopharma

A number of institutional investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC bought a new position in shares of Xeris Biopharma during the 4th quarter worth approximately $25,000. KBC Group NV purchased a new position in shares of Xeris Biopharma in the 1st quarter worth about $27,000. Caitong International Asset Management Co. Ltd grew its position in Xeris Biopharma by 9,276.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,501 shares of the company’s stock valued at $59,000 after buying an additional 7,421 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Xeris Biopharma by 179.3% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 7,789 shares of the company’s stock valued at $63,000 after buying an additional 5,000 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Xeris Biopharma by 29.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,063 shares of the company’s stock worth $63,000 after buying an additional 1,820 shares during the last quarter. 42.75% of the stock is owned by institutional investors.

About Xeris Biopharma

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.