Xeris Biopharma (NASDAQ:XERS) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Xeris Biopharma from “Buy” to “Hold.” With other recent ratings changes, the stock has a consensus “Hold” rating and a $12.00 price target.
• Xeris opened at $8.53, with a market capitalization of approximately $1.56 billion. Its latest quarterly results missed EPS expectations, although revenue of $92.1 million exceeded estimates.
• Insiders sold approximately 225,000 shares worth $1.85 million over the past 90 days, while institutional investors own 42.75% of the company and several major firms increased their stakes.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday, Wall Street Zen reports.

Other analysts also recently issued research reports about the company. Weiss Ratings downgraded Xeris Biopharma from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Tuesday, August 11th. Barclays increased their price target on shares of Xeris Biopharma from $9.00 to $12.00 and gave the company an "overweight" rating in a research report on Thursday, August 20th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $12.00.

Xeris Biopharma Stock Performance

NASDAQ XERS opened at $8.53 on Friday. Xeris Biopharma has a 52-week low of $5.25 and a 52-week high of $10.08. The company has a fifty day moving average of $8.41 and a 200-day moving average of $6.98. The company has a market capitalization of $1.56 billion, a P/E ratio of -77.55 and a beta of 0.70. The company has a debt-to-equity ratio of 17.00, a quick ratio of 1.02 and a current ratio of 1.45.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.18) 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 firm had revenue of $92.10 million during the quarter, compared to the consensus estimate of $90.12 million. As a group, equities research analysts predict that Xeris Biopharma will post 0.07 EPS for the current fiscal year.

Insider Activity

In other news, insider Beth Hecht sold 16,666 shares of the stock in a transaction dated 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 sale, the insider directly owned 1,127,796 shares in the company, valued at approximately $9,574,988.04. This represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Pieper sold 27,600 shares of the firm's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $8.52, for a total value of $235,152.00. Following the completion of the sale, the insider directly owned 1,366,053 shares in the company, valued at $11,638,771.56. The trade was a 1.98% 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 ninety days, insiders sold 224,998 shares of company stock valued at $1,847,219. Insiders own 4.35% of the company's stock.

Institutional Investors Weigh In On Xeris Biopharma

A number of large investors have recently made changes to their positions in the business. Royal Bank of Canada increased its stake in shares of Xeris Biopharma by 1,411.2% during the first quarter. Royal Bank of Canada now owns 213,084 shares of the company's stock valued at $1,170,000 after buying an additional 198,984 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Xeris Biopharma by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,982 shares of the company's stock worth $461,000 after acquiring an additional 3,594 shares during the period. Millennium Management LLC lifted its stake in Xeris Biopharma by 19.0% in the first quarter. Millennium Management LLC now owns 2,317,972 shares of the company's stock worth $12,726,000 after acquiring an additional 369,420 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Xeris Biopharma by 75.4% in the first quarter. Goldman Sachs Group Inc. now owns 2,790,014 shares of the company's stock valued at $15,317,000 after acquiring an additional 1,199,435 shares in the last quarter. Finally, Caxton Associates LLP bought a new stake in Xeris Biopharma in the first quarter valued at $170,000. 42.75% of the stock is currently 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.

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