Xeris Biopharma (NASDAQ:XERS) Hits New 12-Month High - What's Next?

Key Points

• Xeris Biopharma reached a new 52-week high, trading as high as $10.09 and closing around $10.03, well above its 50-day and 200-day moving averages.
• Analyst sentiment remains mixed: Barclays and Leerink Partners raised their price targets to $12 and $16, respectively, while Weiss Ratings downgraded the stock to “sell.” The consensus rating is “Hold,” with an average target price of $12.80.
• The company exceeded revenue expectations in its latest quarter but missed the earnings-per-share estimate, reporting a loss of $0.18 per share versus the expected $0.01 profit. Insiders have sold nearly 225,000 shares worth approximately $1.85 million over the past 90 days.

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Get Free Report) reached a new 52-week high on Tuesday. The stock traded as high as $10.09 and last traded at $10.0250, with a volume of 1423038 shares changing hands. The stock had previously closed at $9.83.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Weiss Ratings cut Xeris Biopharma from a "hold (c-)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. Barclays increased their target price on Xeris Biopharma from $9.00 to $12.00 and gave the stock an "overweight" rating in a research report on Thursday, August 20th. Wall Street Zen raised Xeris Biopharma from a "hold" rating to a "buy" rating in a research note on Saturday, September 19th. Finally, Leerink Partners boosted their price target on Xeris Biopharma from $12.00 to $16.00 and gave the stock an "outperform" rating in a report on Thursday, September 10th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $12.80.

Xeris Biopharma Stock Up 0.4%

The business has a 50-day moving average of $8.38 and a 200 day moving average of $7.20. The company has a market capitalization of $1.80 billion, a PE ratio of -94.18 and a beta of 0.70. The company has a debt-to-equity ratio of 17.00, a current ratio of 1.45 and a quick ratio of 1.02.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.19). The firm had revenue of $92.10 million for 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%. Equities research analysts predict that Xeris Biopharma Holdings, Inc. will post 0.07 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Kevin McCulloch sold 15,000 shares of the business's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $8.49, for a total value of $127,350.00. Following the sale, the insider owned 1,639,208 shares in the company, valued at approximately $13,916,875.92. The trade was a 0.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Pieper sold 5,000 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $8.50, for a total transaction of $42,500.00. Following the transaction, the insider owned 1,356,053 shares of the company's stock, valued at $11,526,450.50. This trade represents a 0.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 224,998 shares of company stock worth $1,847,219. Insiders own 4.35% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Allworth Financial LP raised its holdings in shares of Xeris Biopharma by 86.4% in the 2nd quarter. Allworth Financial LP now owns 4,315 shares of the company's stock valued at $34,000 after purchasing an additional 2,000 shares in the last quarter. AlphaCentric Advisors LLC boosted its stake in shares of Xeris Biopharma by 5.7% during the first quarter. AlphaCentric Advisors LLC now owns 45,886 shares of the company's stock valued at $266,000 after purchasing an additional 2,494 shares in the last quarter. ProShare Advisors LLC increased its holdings in Xeris Biopharma by 10.6% during the fourth quarter. ProShare Advisors LLC now owns 35,390 shares of the company's stock valued at $278,000 after buying an additional 3,383 shares during the period. KBC Group NV purchased a new position in Xeris Biopharma during the first quarter valued at approximately $27,000. Finally, Royal Bank of Canada raised its stake in Xeris Biopharma by 12.9% in the first quarter. Royal Bank of Canada now owns 43,610 shares of the company's stock worth $253,000 after buying an additional 4,974 shares in the last quarter. Institutional investors own 42.75% of the company's stock.

Xeris Biopharma Company Profile

Xeris Biopharma Holdings, Inc NASDAQ: XERS is a specialty pharmaceutical company focused on developing and commercializing therapies using proprietary formulation and drug-delivery technologies. Its platforms, including XeriSol and XeriJect, are designed to enable liquid or ready-to-use formulations of medicines that may otherwise require refrigeration, reconstitution, or administration by a healthcare professional.

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

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