Parkman Healthcare Partners LLC Raises Position in Xeris Biopharma Holdings, Inc. $XERS

Key Points

• Parkman Healthcare Partners LLC increased its stake in Xeris Biopharma Holdings by 207.8%, owning approximately 1.14% of the company, valued at about $9.78 million.
• Several analysts have set new price targets for Xeris Biopharma, with the average target now at $7.08 and the stock rated as a "Moderate Buy" by five analysts.
• Insider trading activity includes Kevin Mcculloch purchasing 25,000 shares at $4.38 per share, while Director Jeffrey W. Sherman sold 42,232 shares at an average price of $7.92.

Parkman Healthcare Partners LLC boosted its stake in shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) by 207.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,780,454 shares of the company's stock after buying an additional 1,201,943 shares during the period. Parkman Healthcare Partners LLC owned approximately 1.14% of Xeris Biopharma worth $9,775,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC raised its position in shares of Xeris Biopharma by 92.1% in the 1st 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 purchased a new position in shares of Xeris Biopharma in the 1st quarter worth about $12,240,000. Millennium Management LLC raised its position in shares of Xeris Biopharma by 34.8% in the 4th quarter. Millennium Management LLC now owns 1,948,552 shares of the company's stock worth $6,606,000 after purchasing an additional 502,853 shares during the last quarter. Two Sigma Advisers LP purchased a new position in shares of Xeris Biopharma in the 4th quarter worth about $47,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Xeris Biopharma in the 4th quarter worth about $45,000. Institutional investors own 42.75% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on XERS. 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 target for the company. Leerink Partners increased their target price on Xeris Biopharma from $7.00 to $9.00 and gave the company an "outperform" rating in a research note on Tuesday, August 19th. Finally, Wall Street Zen downgraded Xeris Biopharma from a "strong-buy" rating to a "buy" rating in a research note on Friday. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $7.08.

Insider Transactions at Xeris Biopharma

In other Xeris Biopharma news, Director Dawn Halkuff sold 42,500 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $7.28, for a total value of $309,400.00. Following the transaction, the director directly owned 115,000 shares of the company's stock, valued at approximately $837,200. This trade represents a 26.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey W. Sherman sold 42,232 shares of the firm's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $7.92, for a total value of $334,477.44. Following the completion of the transaction, the director directly owned 219,188 shares in the company, valued at $1,735,968.96. The trade was a 16.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 192,232 shares of company stock valued at $1,430,777. Company insiders own 4.56% of the company's stock.

Xeris Biopharma Trading Down 1.2%

NASDAQ:XERS traded down $0.09 during trading hours on Tuesday, reaching $7.68. The company had a trading volume of 2,258,102 shares, compared to its average volume of 2,082,965. Xeris Biopharma Holdings, Inc. has a 52 week low of $2.60 and a 52 week high of $8.03. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -36.57 and a beta of 0.12. The firm's 50 day moving average price is $6.31 and its 200-day moving average price is $5.20.

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

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.