Xeris Biopharma (NASDAQ:XERS) Shares Gap Down – Time to Sell?

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $9.87, but opened at $8.40. Xeris Biopharma shares last traded at $8.0630, with a volume of 2,744,939 shares changing hands.

Analysts Set New Price Targets

XERS has been the topic of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Xeris Biopharma in a report on Wednesday, October 8th. Zacks Research downgraded shares of Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Wall Street Zen upgraded shares of Xeris Biopharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 18th. Leerink Partners boosted their price objective on Xeris Biopharma from $7.00 to $9.00 and gave the company an “outperform” rating in a report on Tuesday, August 19th. Finally, Oppenheimer boosted their price objective on shares of Xeris Biopharma from $8.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $8.92.

Xeris Biopharma Stock Performance

The company’s fifty day moving average is $8.40 and its two-hundred day moving average is $6.34. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -37.15 and a beta of 0.21.

Xeris Biopharma (NASDAQ:XERS) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The business had revenue of $67.71 million during the quarter, compared to analysts’ expectations of $64.58 million. On average, sell-side analysts anticipate that Xeris Biopharma Holdings, Inc. will post -0.41 EPS for the current fiscal year.

Insider Transactions at Xeris Biopharma

In other Xeris Biopharma news, Director John Johnson sold 107,500 shares of Xeris Biopharma stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $7.32, for a total transaction of $786,900.00. Following the sale, the director owned 833,483 shares of the company’s stock, valued at $6,101,095.56. The trade was a 11.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey W. Sherman sold 42,232 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $7.92, for a total transaction of $334,477.44. Following the completion of the sale, the director owned 219,188 shares of the company’s stock, valued at $1,735,968.96. This trade represents a 16.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 207,732 shares of company stock worth $1,550,437 over the last three months. 6.47% of the stock is owned by insiders.

Institutional Investors Weigh In On Xeris Biopharma

Hedge funds have recently modified their holdings of the business. AQR Capital Management LLC raised its position in shares of Xeris Biopharma by 13.4% in the first quarter. AQR Capital Management LLC now owns 946,766 shares of the company’s stock valued at $5,198,000 after buying an additional 111,826 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Xeris Biopharma by 92.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 31,254 shares of the company’s stock worth $172,000 after purchasing an additional 14,986 shares during the last quarter. Nuveen LLC acquired a new stake in Xeris Biopharma during the first quarter worth about $12,240,000. CWM LLC increased its position in Xeris Biopharma by 79.3% during the first quarter. CWM LLC now owns 66,972 shares of the company’s stock worth $368,000 after purchasing an additional 29,614 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in Xeris Biopharma by 90.3% during the first quarter. New York State Common Retirement Fund now owns 43,422 shares of the company’s stock worth $238,000 after purchasing an additional 20,600 shares during the last quarter. 42.75% of the stock is currently owned by institutional investors and hedge funds.

Xeris Biopharma Company Profile

Xeris Biopharma Holdings, Inc, a biopharmaceutical company, engages in developing and commercializing therapies in Illinois. The company offers Gvoke, a ready-to-use liquid-stable glucagon for the treatment of severe hypoglycemia pediatric and adult patients; Keveyis, a therapy for the treatment of hyperkalemic, hypokalemic, and related variants of primary periodic paralysis; and Recorlev, a cortisol synthesis inhibitor proved for the treatment of endogenous hypercortisolemia in adult patients with Cushing's syndrome.