Xeris Biopharma Holdings, Inc. $XERS Position Trimmed by Stonepine Capital Management LLC

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 decreased its holdings in shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) by 43.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,265 shares of the company's stock after selling 80,052 shares during the quarter. Stonepine Capital Management LLC owned approximately 0.07% of Xeris Biopharma worth $561,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of XERS. NewEdge Advisors LLC acquired a new stake in Xeris Biopharma during the fourth quarter worth about $34,000. Raymond James Financial Inc. acquired a new stake in Xeris Biopharma during the fourth quarter worth about $45,000. Two Sigma Advisers LP acquired a new stake in Xeris Biopharma during the fourth quarter worth about $47,000. Aquatic Capital Management LLC acquired a new stake in Xeris Biopharma during the fourth quarter worth about $50,000. Finally, Apella Capital LLC acquired a new stake in Xeris Biopharma during the first quarter worth about $55,000. Institutional investors and hedge funds own 42.75% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, Director Dawn Halkuff sold 42,500 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 115,000 shares in the company, valued at $837,200. This trade represents a 26.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kevin Mcculloch acquired 25,000 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was bought at an average price of $4.38 per share, with a total value of $109,500.00. Following the completion of the acquisition, the insider directly owned 1,708,585 shares of the company's stock, valued at approximately $7,483,602.30. This represents a 1.48% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 6.47% of the company's stock.

Xeris Biopharma Price Performance

Shares of Xeris Biopharma stock traded down $0.21 on Friday, hitting $7.70. The company had a trading volume of 772,740 shares, compared to its average volume of 2,548,052. The business has a 50-day simple moving average of $5.81 and a 200-day simple moving average of $4.96. The company has a market cap of $1.24 billion, a PE ratio of -36.59 and a beta of 0.65. Xeris Biopharma Holdings, Inc. has a 52 week low of $2.48 and a 52 week high of $8.02.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $64.58 million. On average, equities research analysts predict that Xeris Biopharma Holdings, Inc. will post -0.41 earnings per share for the current fiscal 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.