Xeris Biopharma Holdings, Inc. $XERS Holdings Raised by Invesco Ltd.

Key Points

• Invesco Ltd. significantly increased its stake in Xeris Biopharma Holdings, Inc. by 1,387.8% during the first quarter, acquiring a total of 1,026,838 shares valued at approximately $5.6 million.
• Xeris Biopharma reported earnings of ($0.01) per share, beating estimates by $0.02, while revenue for the quarter reached $67.71 million, exceeding the forecast of $64.58 million.
• Several brokerages have recently upgraded their ratings for Xeris Biopharma, including a “strong-buy” rating from Wall Street Zen and a price target increase by Oppenheimer from $6.00 to $7.00.

Invesco Ltd. boosted its holdings in Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) by 1,387.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,026,838 shares of the company's stock after purchasing an additional 957,822 shares during the quarter. Invesco Ltd. owned approximately 0.66% of Xeris Biopharma worth $5,637,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Xeris Biopharma by 244.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 589,471 shares of the company's stock worth $3,236,000 after purchasing an additional 418,139 shares during the period. Deutsche Bank AG boosted its holdings in Xeris Biopharma by 492.8% in the first quarter. Deutsche Bank AG now owns 756,407 shares of the company's stock worth $4,153,000 after purchasing an additional 628,807 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Xeris Biopharma by 5.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 423,775 shares of the company's stock worth $2,327,000 after purchasing an additional 20,903 shares during the period. Vanguard Group Inc. boosted its holdings in Xeris Biopharma by 2.7% in the first quarter. Vanguard Group Inc. now owns 8,109,644 shares of the company's stock worth $44,522,000 after purchasing an additional 210,581 shares during the period. Finally, R Squared Ltd boosted its holdings in Xeris Biopharma by 27.7% in the first quarter. R Squared Ltd now owns 15,730 shares of the company's stock worth $86,000 after purchasing an additional 3,410 shares during the period. Institutional investors and hedge funds own 42.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Oppenheimer lifted their price objective on shares of Xeris Biopharma from $6.00 to $7.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Wall Street Zen raised shares of Xeris Biopharma from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. HC Wainwright began coverage on shares of Xeris Biopharma in a report on Tuesday, August 12th. They set a "buy" rating and a $10.00 price target for the company. Finally, Leerink Partners boosted their price target on shares of Xeris Biopharma from $7.00 to $9.00 and gave the company an "outperform" rating in a report on Tuesday, August 19th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $7.08.

Insider Activity at Xeris Biopharma

In related news, Director Jeffrey W. Sherman sold 42,232 shares of Xeris Biopharma stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $7.92, for a total transaction of $334,477.44. Following the transaction, the director directly owned 219,188 shares of the company's stock, valued at $1,735,968.96. The trade was a 16.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dawn Halkuff sold 42,500 shares of Xeris Biopharma 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 in the company, valued at approximately $837,200. The trade was a 26.98% 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 worth $1,430,777. 6.47% of the stock is owned by company insiders.

Xeris Biopharma Trading Down 0.9%

XERS stock traded down $0.07 during trading on Friday, hitting $7.83. The company had a trading volume of 1,513,967 shares, compared to its average volume of 3,564,832. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -37.28 and a beta of 0.65. The business has a 50 day moving average of $5.87 and a 200 day moving average of $5.00. Xeris Biopharma Holdings, Inc. has a fifty-two week low of $2.48 and a fifty-two 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 for the quarter, topping the consensus estimate of ($0.03) by $0.02. The company had revenue of $67.71 million during the quarter, compared to analyst estimates of $64.58 million. As a group, equities analysts predict 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.