Xeris Biopharma (NASDAQ:XERS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Xeris Biopharma (NASDAQ:XERS) from a hold rating to a buy rating in a research report report published on Saturday,Wall Street Zen reports.

A number of other analysts also recently issued reports on the company. Barclays lifted their price target on Xeris Biopharma from $9.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, August 20th. Leerink Partners increased their price target on shares of Xeris Biopharma from $12.00 to $16.00 and gave the stock an “outperform” rating in a report on Thursday, September 10th. Finally, Weiss Ratings cut shares of Xeris Biopharma from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $12.80.

Xeris Biopharma Stock Up 7.3%

XERS opened at $8.80 on Friday. The company has a fifty day moving average price of $8.34 and a 200-day moving average price of $7.09. The firm has a market capitalization of $1.60 billion, a P/E ratio of -80.00 and a beta of 0.70. The company has a debt-to-equity ratio of 17.00, a current ratio of 1.45 and a quick ratio of 1.02. Xeris Biopharma has a one year low of $5.25 and a one year 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). The firm had revenue of $92.10 million during the quarter, compared to the consensus estimate of $90.12 million. Xeris Biopharma had a positive return on equity of 338.21% and a negative net margin of 5.12%. Equities research analysts expect that Xeris Biopharma will post 0.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Xeris Biopharma news, insider Kevin McCulloch sold 15,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $8.49, for a total transaction of $127,350.00. Following the transaction, the insider directly owned 1,639,208 shares in the company, valued at $13,916,875.92. This trade represents a 0.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $141,494.34. Following the transaction, the insider directly owned 1,127,796 shares in the company, valued at $9,574,988.04. This trade represents a 1.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 224,998 shares of company stock valued at $1,847,219 over the last quarter. 4.35% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Xeris Biopharma

Several institutional investors have recently bought and sold shares of XERS. BlackRock Inc. purchased a new position in shares of Xeris Biopharma in the second quarter valued at about $115,042,000. Legal & General Group Plc purchased a new position in shares of Xeris Biopharma during the second quarter valued at approximately $15,941,000. Parkman Healthcare Partners LLC bought a new stake in Xeris Biopharma in the second quarter valued at $14,316,000. Bank of America Corp DE purchased a new position in Xeris Biopharma during the 2nd quarter valued at $11,065,000. Finally, Granahan Investment Management LLC raised its holdings in Xeris Biopharma by 249.4% in the 4th quarter. Granahan Investment Management LLC now owns 1,223,404 shares of the company’s stock worth $9,604,000 after purchasing an additional 873,236 shares in the last quarter. 42.75% of the stock is currently owned by hedge funds and other institutional investors.

About Xeris Biopharma

Xeris Biopharma Holdings, Inc (NASDAQ:XERS) is a specialty pharmaceutical company focused on developing and commercializing therapies using proprietary formulation and drug-delivery technologies. Its platforms, including XeriSol and XeriJect, are designed to enable liquid or ready-to-use formulations of medicines that may otherwise require refrigeration, reconstitution, or administration by a healthcare professional.

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