Fred Alger Management LLC Buys New Stake in Xeris Biopharma Holdings, Inc. $XERS

Key Points

• Fred Alger Management LLC has acquired a new stake in Xeris Biopharma Holdings, purchasing 134,016 shares valued at approximately $736,000 during the first quarter.
• Xeris Biopharma reported earnings of ($0.01) per share, surpassing the consensus estimate and generating $67.71 million in revenue for the last quarter.
• Analysts have raised price targets on Xeris Biopharma, with Leerink Partners setting a new target of $9.00 and HC Wainwright at $10.00, indicating strong market interest in the company's performance.

Fred Alger Management LLC bought a new stake in Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 134,016 shares of the company's stock, valued at approximately $736,000. Fred Alger Management LLC owned about 0.09% of Xeris Biopharma at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its holdings in Xeris Biopharma by 92.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 31,254 shares of the company's stock valued at $172,000 after buying an additional 14,986 shares during the last quarter. Nuveen LLC purchased a new position in Xeris Biopharma in the first quarter valued at $12,240,000. Millennium Management LLC increased its holdings in Xeris Biopharma by 34.8% in the fourth quarter. Millennium Management LLC now owns 1,948,552 shares of the company's stock valued at $6,606,000 after buying an additional 502,853 shares during the last quarter. Two Sigma Advisers LP purchased a new position in Xeris Biopharma in the fourth quarter valued at $47,000. Finally, Raymond James Financial Inc. purchased a new position in Xeris Biopharma in the fourth quarter valued at $45,000. Hedge funds and other institutional investors own 42.75% of the company's stock.

Xeris Biopharma Stock Performance

Shares of XERS opened at $7.81 on Thursday. Xeris Biopharma Holdings, Inc. has a fifty-two week low of $2.66 and a fifty-two week high of $8.03. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -37.19 and a beta of 0.13. The firm has a 50-day simple moving average of $6.37 and a 200-day simple moving average of $5.22.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02. The business had revenue of $67.71 million for the quarter, compared to analyst estimates of $64.58 million. Equities research analysts forecast that Xeris Biopharma Holdings, Inc. will post -0.41 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on XERS shares. Leerink Partners raised their price objective on Xeris Biopharma from $7.00 to $9.00 and gave the stock an "outperform" rating in a report on Tuesday, August 19th. HC Wainwright started coverage on Xeris Biopharma in a report on Tuesday, August 12th. They set a "buy" rating and a $10.00 price objective on the stock. Finally, Wall Street Zen lowered Xeris Biopharma from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $7.08.

Insider Buying and Selling at Xeris Biopharma

In other news, 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 in the company, valued at approximately $1,735,968.96. This represents a 16.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dawn Halkuff sold 42,500 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $7.28, for a total transaction of $309,400.00. Following the sale, the director owned 115,000 shares of the company's stock, valued at $837,200. This trade represents a 26.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 192,232 shares of company stock worth $1,430,777 over the last three months. 6.47% of the stock is currently owned by corporate insiders.

Xeris Biopharma 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.

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