Xeris Biopharma (NASDAQ:XERS) Insider Kevin Mcculloch Sells 15,000 Shares of Stock

Key Points

• Insider sale: Kevin McCulloch sold 15,000 Xeris Biopharma shares at an average of $9.41, receiving $141,150. The transaction was conducted under a pre-arranged Rule 10b5-1 plan and left him with 1,599,208 shares.
• Stock and earnings: XERS recently traded at $9.08, within a 12-month range of $5.25 to $11.33. The company reported a quarterly loss of $0.18 per share, missing estimates, while revenue of $92.1 million exceeded expectations.
• Analyst outlook: Analysts’ consensus rating is “Hold,” with an average price target of $12.80; ratings include four Buys, two Holds, and one Sell. Institutional investors own approximately 42.75% of the company.

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Get Free Report) insider Kevin McCulloch sold 15,000 shares of the stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $9.41, for a total transaction of $141,150.00. Following the sale, the insider directly owned 1,599,208 shares in the company, valued at approximately $15,048,547.28. The trade was a 0.93% 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.

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

• 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 value 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 value of $127,350.00.
• On Monday, August 3rd, Kevin McCulloch sold 15,000 shares of Xeris Biopharma stock. The stock was sold at an average price of $8.02, for a total value of $120,300.00.

Xeris Biopharma Price Performance

XERS traded down $0.17 during trading on Friday, hitting $9.08. The company's stock had a trading volume of 1,375,716 shares, compared to its average volume of 1,988,684. 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 $11.33. The business's fifty day simple moving average is $8.45 and its 200 day simple moving average is $7.29. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of -82.55 and a beta of 0.53.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $90.12 million. Xeris Biopharma had a negative net margin of 5.12% and a positive return on equity of 338.21%. On average, equities research analysts forecast that Xeris Biopharma Holdings, Inc. will post 0.07 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on XERS shares. Wall Street Zen upgraded shares of Xeris Biopharma from a "hold" rating to a "buy" rating in a research report on Saturday, September 19th. Barclays lifted their target price on shares of Xeris Biopharma from $9.00 to $12.00 and gave the company an "overweight" rating in a research report on Thursday, August 20th. Leerink Partners upped their price target on shares of Xeris Biopharma from $12.00 to $16.00 and gave the stock an "outperform" rating in a research report on Thursday, September 10th. Finally, Weiss Ratings lowered shares of Xeris Biopharma from a "hold (c-)" rating to a "sell (d-)" rating in a research note on Tuesday, August 11th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Xeris Biopharma currently has a consensus rating of "Hold" and an average target price of $12.80.

Institutional Investors Weigh In On Xeris Biopharma

A number of large investors have recently made changes to their positions in XERS. Walleye Capital LLC purchased a new stake in shares of Xeris Biopharma in the second quarter valued at about $4,841,000. Canada Pension Plan Investment Board purchased a new stake in shares of Xeris Biopharma during the 2nd quarter valued at approximately $1,736,000. Legal & General Group Plc acquired a new position in Xeris Biopharma in the second quarter valued at approximately $15,941,000. Rice Hall James & Associates LLC acquired a new position in Xeris Biopharma in the first quarter valued at approximately $1,456,000. Finally, Janus Henderson Group PLC grew its position in Xeris Biopharma by 322.8% in the first quarter. Janus Henderson Group PLC now owns 295,489 shares of the company's stock worth $1,713,000 after acquiring an additional 225,602 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 related rare or chronic conditions. The company uses proprietary formulation technologies designed to deliver medicines that are difficult to formulate or administer through conventional methods, including its XeriSol and XeriJect platforms.

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

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