Xeris Biopharma (NASDAQ:XERS) Shares Up 5.6% – Here’s What Happened

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS)’s share price shot up 5.6% during mid-day trading on Tuesday . The company traded as high as $7.24 and last traded at $7.2850. Approximately 558,454 shares traded hands during trading, a decline of 69% from the average daily volume of 1,822,623 shares. The stock had previously closed at $6.90.

Analyst Ratings Changes

XERS has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Xeris Biopharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 7th. 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. Finally, HC Wainwright restated a “buy” rating and issued a $10.00 price target on shares of Xeris Biopharma in a report on Monday, March 2nd. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.80.

Xeris Biopharma Price Performance

The business has a 50-day moving average of $6.30 and a 200 day moving average of $6.57. The company has a current ratio of 2.12, a quick ratio of 1.50 and a debt-to-equity ratio of 17.00. The firm has a market capitalization of $1.24 billion, a P/E ratio of 120.08 and a beta of 0.78.

Xeris Biopharma (NASDAQ:XERS) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.01 earnings per share (EPS) for the quarter. Xeris Biopharma had a return on equity of 735.00% and a net margin of 3.81%.The business had revenue of $83.13 million for the quarter, compared to analyst estimates of $79.83 million. On average, sell-side analysts predict that Xeris Biopharma Holdings, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Xeris Biopharma news, Director Barbara-Jean A. Bormann-Kennedy sold 16,000 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $6.09, for a total transaction of $97,440.00. Following the completion of the sale, the director owned 126,500 shares in the company, valued at approximately $770,385. The trade was a 11.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dawn Halkuff sold 20,000 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 $121,800.00. Following the transaction, the director owned 95,000 shares in the company, valued at approximately $578,550. The trade was a 17.39% 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. Insiders sold 127,335 shares of company stock worth $766,733 over the last quarter. Corporate insiders own 4.35% of the company’s stock.

Institutional Investors Weigh In On Xeris Biopharma

Several hedge funds and other institutional investors have recently made changes to their positions in XERS. Kestra Advisory Services LLC acquired a new stake in shares of Xeris Biopharma in the 4th quarter worth about $25,000. KBC Group NV acquired a new position in Xeris Biopharma during the 1st quarter valued at about $27,000. Caitong International Asset Management Co. Ltd boosted its stake in Xeris Biopharma by 9,276.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 7,501 shares of the company’s stock valued at $59,000 after purchasing an additional 7,421 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Xeris Biopharma by 29.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,063 shares of the company’s stock worth $63,000 after purchasing an additional 1,820 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Xeris Biopharma by 179.3% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 7,789 shares of the company’s stock worth $63,000 after purchasing an additional 5,000 shares in 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.