Insider Selling: Xeris Biopharma (NASDAQ:XERS) Insider Sells 15,000 Shares of Company Stock

Key Points

• Insider Kevin McCulloch sold 15,000 Xeris Biopharma shares at an average $10.23, receiving $153,450. The sale was made under a pre-arranged Rule 10b5-1 plan; he retained 1,584,208 shares.
• McCulloch had also sold shares in September and October, including 15,000 shares in October and 25,000 in September.
• Xeris missed quarterly earnings estimates, reporting a loss of $0.18 per share versus expectations of $0.01 earnings, though revenue of $92.1 million topped estimates. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $13.20.

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Get Free Report) insider Kevin McCulloch sold 15,000 shares of Xeris Biopharma stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $10.23, for a total value of $153,450.00. Following the transaction, the insider owned 1,584,208 shares of the company's stock, valued at approximately $16,206,447.84. This represents a 0.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kevin Mcculloch also recently made the following trade(s):

• On Thursday, October 1st, Kevin McCulloch sold 15,000 shares of Xeris Biopharma stock. The shares were sold at an average price of $9.41, for a total transaction of $141,150.00.
• On Monday, September 28th, Kevin McCulloch sold 25,000 shares of Xeris Biopharma stock. The shares were sold at an average price of $10.00, for a total transaction of $250,000.00.
• On Tuesday, September 1st, Kevin McCulloch sold 15,000 shares of Xeris Biopharma stock. The stock was sold at an average price of $8.49, for a total transaction of $127,350.00.

Xeris Biopharma Price Performance

Shares of Xeris Biopharma stock traded up $0.11 during trading hours on Wednesday, reaching $10.46. The stock had a trading volume of 3,142,009 shares, compared to its average volume of 2,030,196. The stock's 50 day moving average is $9.37 and its 200 day moving average is $7.54. The company has a current ratio of 1.45, a quick ratio of 1.02 and a debt-to-equity ratio of 17.00. Xeris Biopharma Holdings, Inc. has a twelve month low of $5.25 and a twelve month high of $11.41. The firm has a market capitalization of $1.91 billion, a PE ratio of -95.09 and a beta of 0.61.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($0.19). The business had revenue of $92.10 million for the quarter, compared to analyst estimates of $90.12 million. Xeris Biopharma had a negative net margin of 5.12% and a positive return on equity of 338.21%. Equities analysts expect that Xeris Biopharma Holdings, Inc. will post 0.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on XERS shares. Leerink Partners boosted their price objective on Xeris Biopharma from $12.00 to $16.00 and gave the company an "outperform" rating in a research report on Thursday, September 10th. Wall Street Zen upgraded Xeris Biopharma from a "hold" rating to a "buy" rating in a research report on Saturday, September 19th. Weiss Ratings cut shares of Xeris Biopharma from a "hold (c-)" rating to a "sell (d-)" rating in a research note on Tuesday, August 11th. Finally, Barclays boosted their price target on shares of Xeris Biopharma from $12.00 to $14.00 and gave the stock an "overweight" rating in a report on Tuesday, October 6th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $13.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vilga Financial Planning LLC purchased a new stake in Xeris Biopharma during the 3rd quarter valued at about $10,134,000. Legal & General Group Plc purchased a new position in Xeris Biopharma in the 2nd quarter worth approximately $15,941,000. Walleye Capital LLC purchased a new position in Xeris Biopharma in the 2nd quarter worth approximately $4,841,000. Canada Pension Plan Investment Board acquired a new position in shares of Xeris Biopharma during the 2nd quarter worth approximately $1,736,000. Finally, Bank of America Corp DE acquired a new position in shares of Xeris Biopharma during the 2nd quarter worth approximately $11,065,000. 42.75% of the stock is owned by hedge funds and other institutional investors.

About Xeris Biopharma

Xeris Biopharma, Inc is a specialty pharmaceutical company focused on developing and commercializing therapies for patients with endocrinology, gastroenterology and other serious or chronic conditions. The company uses proprietary formulation and delivery technologies designed to make complex therapies more stable, convenient and suitable for self-administration.

Xeris' commercial portfolio includes Gvoke, a ready-to-use glucagon injection for the treatment of severe hypoglycemia in adults and children with diabetes; Recorlev (levoketoconazole), an oral therapy for endogenous hypercortisolemia associated with endogenous Cushing's syndrome; and Keveyis (dichlorphenamide), a treatment for primary periodic paralysis.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.