Stonepine Capital Management LLC Sells 80,052 Shares of Xeris Biopharma Holdings, Inc. $XERS

Key Points

• Stonepine Capital Management LLC reduced its stake in Xeris Biopharma by 43.9%, selling 80,052 shares during the first quarter.
• Xeris Biopharma's stock price opened at $7.75, with a market capitalization of $1.25 billion, showing significant growth potential with a 52-week range of $2.48 to $7.79.
• Wall Street analysts have shown optimism towards Xeris Biopharma, with a consensus rating of "Moderate Buy" and several price target upgrades, including a target of $10.00 from HC Wainwright.

Stonepine Capital Management LLC trimmed its position in Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) by 43.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 102,265 shares of the company's stock after selling 80,052 shares during the period. Stonepine Capital Management LLC owned approximately 0.07% of Xeris Biopharma worth $561,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Xeris Biopharma by 2.7% in the first quarter. Vanguard Group Inc. now owns 8,109,644 shares of the company's stock valued at $44,522,000 after purchasing an additional 210,581 shares in the last quarter. Nuveen LLC bought a new stake in Xeris Biopharma during the first quarter worth about $12,240,000. Millennium Management LLC raised its holdings in Xeris Biopharma by 34.8% during the fourth quarter. Millennium Management LLC now owns 1,948,552 shares of the company's stock worth $6,606,000 after acquiring an additional 502,853 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in Xeris Biopharma by 13.6% during the fourth quarter. Nuveen Asset Management LLC now owns 1,903,442 shares of the company's stock worth $6,453,000 after acquiring an additional 228,380 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its holdings in Xeris Biopharma by 38.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,363,452 shares of the company's stock worth $4,622,000 after acquiring an additional 378,437 shares in the last quarter. 42.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wall Street Zen upgraded Xeris Biopharma from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. HC Wainwright assumed coverage on Xeris Biopharma in a report on Tuesday, August 12th. They set a "buy" rating and a $10.00 target price on the stock. Leerink Partners upped their target price on Xeris Biopharma from $7.00 to $9.00 and gave the stock an "outperform" rating in a report on Tuesday, August 19th. Finally, Oppenheimer upped their target price on Xeris Biopharma from $6.00 to $7.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $7.08.

Xeris Biopharma Trading Up 2.3%

Shares of XERS traded up $0.18 during mid-day trading on Tuesday, reaching $7.95. The company's stock had a trading volume of 4,564,509 shares, compared to its average volume of 3,403,496. Xeris Biopharma Holdings, Inc. has a 1-year low of $2.48 and a 1-year high of $8.02. The stock has a market cap of $1.28 billion, a P/E ratio of -37.86 and a beta of 0.65. The business has a 50-day simple moving average of $5.67 and a two-hundred day simple moving average of $4.91.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.03) by $0.02. The business had revenue of $67.71 million during the quarter, compared to analyst estimates of $64.58 million. Research analysts anticipate that Xeris Biopharma Holdings, Inc. will post -0.41 EPS for the current year.

Insider Activity

In other Xeris Biopharma news, insider Kevin Mcculloch acquired 25,000 shares of the business's stock in a transaction dated Friday, June 13th. The stock was bought at an average cost of $4.38 per share, with a total value of $109,500.00. Following the completion of the transaction, the insider directly owned 1,708,585 shares in the company, valued at approximately $7,483,602.30. This represents a 1.48% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John Johnson sold 107,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $7.32, for a total value of $786,900.00. Following the completion of the sale, the director directly owned 833,483 shares of the company's stock, valued at approximately $6,101,095.56. The trade was a 11.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.56% of the company's stock.

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.