Xeris Biopharma (NASDAQ:XERS) Reaches New 52-Week High - Here's Why

Key Points

• Xeris Biopharma shares reached a new 52-week high, trading as high as $11.42 and closing up 6.2%, supported by upward revisions to analyst price targets. The consensus target is $13.20, although the overall analyst rating remains “Hold.”
• The company’s latest quarterly results were mixed: revenue of $92.1 million exceeded expectations, but adjusted earnings of negative $0.18 per share missed the consensus estimate by $0.19.
• Insiders sold nearly 135,000 shares worth approximately $1.2 million over the past 90 days under pre-arranged trading plans, while institutional investors own 42.75% of the company.

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Get Free Report) shares hit a new 52-week high on Tuesday. The company traded as high as $11.42 and last traded at $10.95, with a volume of 4,340,782 shares changing hands. The stock had previously closed at $10.31.

Analysts Set New Price Targets

XERS has been the subject of several research reports. Leerink Partners boosted their price objective 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 upped their target price on shares of 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 report on Saturday, September 19th. Finally, Weiss Ratings downgraded 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 issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Xeris Biopharma currently has an average rating of "Hold" and a consensus target price of $13.20.

Xeris Biopharma Trading Up 6.2%

The stock's 50 day moving average is $8.94 and its two-hundred day moving average is $7.68. The company has a market capitalization of $2.00 billion, a PE ratio of -99.55 and a beta of 0.53. The company has a quick ratio of 1.02, a current ratio of 1.45 and a debt-to-equity ratio of 17.00.

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

Insider Buying and Selling

In related news, insider Beth Hecht sold 16,666 shares of the company's stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $9.41, for a total transaction of $156,827.06. Following the completion of the sale, the insider directly owned 1,111,130 shares in the company, valued at $10,455,733.30. This represents a 1.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin McCulloch sold 25,000 shares of the stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $10.00, for a total transaction of $250,000.00. Following the sale, the insider directly owned 1,614,208 shares of the company's stock, valued at approximately $16,142,080. The trade was a 1.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 134,998 shares of company stock valued at $1,202,666 over the last 90 days. Corporate insiders own 4.35% of the company's stock.

Institutional Trading of Xeris Biopharma

Hedge funds and other institutional investors have recently made changes to their positions in the business. GK Wealth Management LLC purchased a new stake in Xeris Biopharma in the third quarter valued at about $32,000. Vilga Financial Planning LLC acquired a new stake in Xeris Biopharma during the 3rd quarter valued at approximately $10,134,000. Integrated Wealth Concepts LLC acquired a new position in Xeris Biopharma during the second quarter valued at $74,000. Allworth Financial LP lifted 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 buying an additional 2,000 shares during the period. Finally, Allianz Asset Management GmbH acquired a new position in Xeris Biopharma in the second quarter valued at approximately $314,000. Hedge funds and other institutional investors own 42.75% of the company's stock.

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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