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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in Xeris Biopharma in the fourth quarter valued at about $45,000. Two Sigma Advisers LP acquired a new position in Xeris Biopharma during the 4th quarter worth approximately $47,000. Wealth Enhancement Advisory Services LLC grew its position in Xeris Biopharma by 31.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,268 shares of the company's stock valued at $55,000 after purchasing an additional 3,847 shares in the last quarter. Apella Capital LLC acquired a new stake in shares of Xeris Biopharma in the first quarter valued at about $55,000. Finally, Xponance Inc. acquired a new position in shares of Xeris Biopharma during the 1st quarter worth approximately $57,000. 42.75% of the stock is owned by institutional investors.

Insider Buying and Selling at Xeris Biopharma

In other news, Director Dawn Halkuff sold 42,500 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $7.28, for a total value of $309,400.00. Following the transaction, the director owned 115,000 shares of the company's stock, valued at $837,200. This represents a 26.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Marla Persky sold 15,500 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $7.72, for a total value of $119,660.00. Following the completion of the sale, the director owned 142,000 shares of the company's stock, valued at $1,096,240. The trade was a 9.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 207,732 shares of company stock worth $1,550,437 over the last three months. Company insiders own 4.56% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. HC Wainwright assumed coverage on Xeris Biopharma in a research report on Tuesday, August 12th. They issued a "buy" rating and a $10.00 price objective for the company. Leerink Partners lifted their price target on shares of Xeris Biopharma from $7.00 to $9.00 and gave the company an "outperform" rating in a research report on Tuesday, August 19th. Finally, Wall Street Zen downgraded shares of Xeris Biopharma from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Xeris Biopharma has an average rating of "Moderate Buy" and a consensus price target of $7.08.

Xeris Biopharma Price Performance

Shares of NASDAQ:XERS traded up $0.11 during trading on Tuesday, reaching $7.47. 1,242,570 shares of the stock were exchanged, compared to its average volume of 1,767,553. Xeris Biopharma Holdings, Inc. has a 1-year low of $2.69 and a 1-year high of $8.03. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -35.57 and a beta of 0.13. The stock has a fifty day moving average of $6.59 and a two-hundred day moving average of $5.33.

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

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.