Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Analysts rate Xeris Biopharma “Hold” on average, with three buys, two holds and one sell among six brokerages. The average 12-month price target is $12.00, versus a recent share price of $8.68.
• Insiders sold 271,499 shares worth approximately $2.04 million over the past 90 days, while insiders own 4.35% of the company. Institutional and hedge-fund ownership stands at 42.75%, with several investors increasing their positions.
• Xeris exceeded quarterly revenue expectations with $92.1 million but missed on earnings, reporting an adjusted loss of $0.18 per share versus the $0.01 consensus estimate. The stock trades between a 52-week range of $5.25 and $10.08.

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Get Free Report) has received an average recommendation of "Hold" from the six brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $12.00.

XERS has been the subject of several research analyst reports. Barclays upped their price target on shares of Xeris Biopharma from $9.00 to $12.00 and gave the stock an "overweight" rating in a research report on Thursday, August 20th. Wall Street Zen downgraded shares of Xeris Biopharma from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Weiss Ratings cut shares of Xeris Biopharma from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Tuesday, August 11th.

Insiders Place Their Bets

In other news, insider Kevin Mcculloch sold 90,000 shares of Xeris Biopharma stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $8.03, for a total transaction of $722,700.00. Following the sale, the insider owned 1,691,126 shares in the company, valued at $13,579,741.78. This trade represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dawn Halkuff sold 20,000 shares of the business'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 directly owned 95,000 shares in the company, valued at approximately $578,550. The trade was a 17.39% 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. In the last 90 days, insiders have sold 271,499 shares of company stock worth $2,038,917. 4.35% of the stock is owned by company insiders.

Hedge Funds Weigh In On Xeris Biopharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XERS. Walleye Capital LLC acquired a new stake in shares of Xeris Biopharma during the second quarter worth approximately $4,841,000. Rice Hall James & Associates LLC bought a new stake in shares of Xeris Biopharma in the 1st quarter worth about $1,456,000. Janus Henderson Group PLC raised its stake in shares of Xeris Biopharma by 322.8% in the 1st quarter. Janus Henderson Group PLC now owns 295,489 shares of the company's stock valued at $1,713,000 after purchasing an additional 225,602 shares in the last quarter. Granahan Investment Management LLC lifted its position in shares of Xeris Biopharma by 249.4% during the fourth quarter. Granahan Investment Management LLC now owns 1,223,404 shares of the company's stock worth $9,604,000 after purchasing an additional 873,236 shares during the last quarter. Finally, Sei Investments Co. lifted its position in shares of 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 purchasing an additional 179,863 shares during the last quarter. 42.75% of the stock is owned by hedge funds and other institutional investors.

Xeris Biopharma Price Performance

XERS stock opened at $8.68 on Thursday. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of -78.91 and a beta of 0.66. The company has a quick ratio of 1.02, a current ratio of 1.45 and a debt-to-equity ratio of 17.00. Xeris Biopharma has a 52-week low of $5.25 and a 52-week high of $10.08. The stock's fifty day simple moving average is $8.22 and its 200-day simple moving average is $6.90.

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 the consensus estimate of $0.01 by ($0.19). The business had revenue of $92.10 million during the quarter, compared to analyst estimates of $90.12 million. Xeris Biopharma had a negative net margin of 5.12% and a positive return on equity of 338.21%. Equities research analysts expect that Xeris Biopharma will post 0.07 EPS for the current year.

Xeris Biopharma Company Profile

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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