Insider Selling: Xeris Biopharma (NASDAQ:XERS) Insider Sells 5,000 Shares of Stock

Key Points

• Xeris Biopharma insider Steven Pieper sold 5,000 shares for $51,150, at an average price of $10.23. The sale was made under a pre-arranged Rule 10b5-1 plan; he retained 1,346,053 shares.
• Pieper has also sold 5,000 shares in each of three earlier transactions cited in the article, at prices of $8.50–$9.41 per share.
• XERS traded at $10.46 in Wednesday midday trading. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $13.20; the article also reported a quarterly earnings-per-share miss despite revenue exceeding expectations.

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Get Free Report) insider Steven Pieper sold 5,000 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 $51,150.00. Following the completion of the sale, the insider owned 1,346,053 shares in the company, valued at approximately $13,770,122.19. This trade represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Steven Pieper also recently made the following trade(s):

• On Thursday, October 1st, Steven Pieper sold 5,000 shares of Xeris Biopharma stock. The stock was sold at an average price of $9.41, for a total value of $47,050.00.
• On Tuesday, September 1st, Steven Pieper sold 5,000 shares of Xeris Biopharma stock. The stock was sold at an average price of $8.50, for a total value of $42,500.00.
• On Wednesday, August 12th, Steven Pieper sold 5,000 shares of Xeris Biopharma stock. The stock was sold at an average price of $8.50, for a total value of $42,500.00.

Xeris Biopharma Price Performance

Xeris Biopharma stock traded up $0.11 during midday trading on Wednesday, reaching $10.46. The company's stock had a trading volume of 3,142,009 shares, compared to its average volume of 2,030,196. Xeris Biopharma Holdings, Inc. has a fifty-two week low of $5.25 and a fifty-two week high of $11.41. The company has a debt-to-equity ratio of 17.00, a quick ratio of 1.02 and a current ratio of 1.45. The stock's 50 day simple moving average is $9.37 and its 200 day simple moving average is $7.54. 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 issued its earnings results on Thursday, August 6th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.19). The company had revenue of $92.10 million for the quarter, compared to analysts' expectations of $90.12 million. Xeris Biopharma had a positive return on equity of 338.21% and a negative net margin of 5.12%. On average, equities research analysts forecast that Xeris Biopharma Holdings, Inc. will post 0.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Xeris Biopharma

Several hedge funds and other institutional investors have recently bought and sold shares of XERS. BlackRock Inc. bought a new stake in shares of Xeris Biopharma in the second quarter worth $115,042,000. Wellington Management Group LLP lifted its holdings in Xeris Biopharma by 8.9% in the second quarter. Wellington Management Group LLP now owns 2,365,103 shares of the company's stock worth $18,732,000 after acquiring an additional 193,749 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of Xeris Biopharma in the 2nd quarter worth approximately $15,941,000. Parkman Healthcare Partners LLC acquired a new position in shares of Xeris Biopharma during the second quarter valued at $14,316,000. Finally, Algert Global LLC boosted its stake in Xeris Biopharma by 50.6% during the 2nd quarter. Algert Global LLC now owns 1,742,942 shares of the company's stock valued at $13,804,000 after purchasing an additional 585,984 shares during the period. 42.75% of the stock is currently owned by hedge funds and other institutional investors.

Xeris Biopharma Company Profile

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.

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