Xeris Biopharma (NASDAQ:XERS) Stock Jumps 6.8% – Should You Buy?

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS)’s stock price shot up 6.8% during trading on Monday. The company traded as high as $11.05 and last traded at $11.0160. Approximately 1,152,083 shares were traded during trading, a decline of 43% from the average daily volume of 2,007,346 shares. The stock had previously closed at $10.31.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on XERS shares. Weiss Ratings lowered shares of Xeris Biopharma from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Barclays upped their price objective on shares of Xeris Biopharma from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, October 6th. Wall Street Zen raised shares of Xeris Biopharma from a “hold” rating to a “buy” rating in a research note on Saturday, September 19th. Finally, Leerink Partners increased their target price 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. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $13.20.

Xeris Biopharma Price Performance

The company has a market cap of $2.06 billion, a PE ratio of -102.61 and a beta of 0.53. The business has a 50 day moving average of $8.88 and a 200 day moving average of $7.65. 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 (NASDAQ:XERS) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.19). Xeris Biopharma had a negative net margin of 5.12% and a positive return on equity of 338.21%. The company had revenue of $92.10 million for the quarter, compared to analysts’ expectations of $90.12 million. As a group, research analysts predict that Xeris Biopharma Holdings, Inc. will post 0.07 EPS for the current year.

Insider Transactions at Xeris Biopharma

In related news, insider Beth Hecht sold 16,666 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $9.41, for a total value of $156,827.06. Following the completion of the transaction, the insider directly owned 1,111,130 shares of the company’s stock, valued at $10,455,733.30. This represents a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Pieper sold 5,000 shares of the stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $9.41, for a total transaction of $47,050.00. Following the completion of the transaction, the insider directly owned 1,351,053 shares of the company’s stock, valued at approximately $12,713,408.73. The trade was a 0.37% decrease in their ownership of the stock. 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. In the last ninety days, insiders sold 134,998 shares of company stock valued at $1,202,666. Company insiders own 4.35% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Xeris Biopharma in the 2nd quarter worth approximately $115,042,000. Legal & General Group Plc bought a new stake in shares of Xeris Biopharma during the second quarter valued at approximately $15,941,000. Parkman Healthcare Partners LLC bought a new stake in shares of Xeris Biopharma during the second quarter valued at approximately $14,316,000. Bank of America Corp DE purchased a new stake in Xeris Biopharma in the second quarter worth $11,065,000. Finally, Vilga Financial Planning LLC purchased a new stake in Xeris Biopharma in the third quarter worth $10,134,000. Hedge funds and other institutional investors own 42.75% of the company’s stock.

About Xeris Biopharma

Xeris Biopharma, Inc is a specialty pharmaceutical company focused on developing and commercializing therapies for patients with endocrinology, gastroenterology, and related rare or chronic conditions. The company uses proprietary formulation technologies designed to deliver medicines that are difficult to formulate or administer through conventional methods, including its XeriSol and XeriJect platforms.

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