Xeris Biopharma (NASDAQ:XERS) Downgraded to “Hold” Rating by Wall Street Zen

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

A number of other equities research analysts have also weighed in on the stock. 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 increased their target price on Xeris Biopharma from $9.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, August 20th. Three investment 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, the company presently has an average rating of “Hold” and an average target price of $12.00.

Xeris Biopharma Price Performance

XERS stock opened at $8.53 on Friday. The company has a debt-to-equity ratio of 17.00, a current ratio of 1.45 and a quick ratio of 1.02. The firm has a market capitalization of $1.56 billion, a P/E ratio of -77.55 and a beta of 0.70. The business’s 50-day moving average is $8.41 and its two-hundred day moving average is $6.98. Xeris Biopharma has a 1 year low of $5.25 and a 1 year high of $10.08.

Xeris Biopharma (NASDAQ:XERS) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.19). The company had revenue of $92.10 million for the quarter, compared to analyst estimates of $90.12 million. Xeris Biopharma had a positive return on equity of 338.21% and a negative net margin of 5.12%. Analysts anticipate that Xeris Biopharma will post 0.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Steven Pieper sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $8.50, for a total value of $42,500.00. Following the completion of the transaction, the insider owned 1,356,053 shares in the company, valued at approximately $11,526,450.50. This represents a 0.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Beth Hecht sold 16,666 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $8.49, for a total transaction of $141,494.34. Following the completion of 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. Over the last quarter, insiders have sold 224,998 shares of company stock valued at $1,847,219. 4.35% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Xeris Biopharma

Institutional investors and hedge funds have recently bought and sold shares of the stock. Walleye Capital LLC acquired a new stake in shares of Xeris Biopharma in the 2nd quarter valued at about $4,841,000. Rice Hall James & Associates LLC purchased a new position in Xeris Biopharma during the 1st quarter worth approximately $1,456,000. Janus Henderson Group PLC increased its position in Xeris Biopharma by 322.8% during the first quarter. Janus Henderson Group PLC now owns 295,489 shares of the company’s stock worth $1,713,000 after buying an additional 225,602 shares during the period. Sei Investments Co. increased its position in Xeris Biopharma by 45.0% during the first quarter. Sei Investments Co. now owns 579,210 shares of the company’s stock worth $3,359,000 after buying an additional 179,863 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Xeris Biopharma during the second quarter worth approximately $1,007,000. 42.75% of the stock is owned by hedge funds and other 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.