Weiss Ratings Reiterates Sell (D-) Rating for Xeris Biopharma (NASDAQ:XERS)

Key Points

• Weiss Ratings has reiterated a "sell (D-)" rating for Xeris Biopharma (NASDAQ:XERS), indicating significant caution from the rating agency.
• While Weiss Ratings is bearish, other analysts have mixed views, with one firm raising its target price from $7.00 to $9.00 and issuing an "outperform" rating.
• Xeris Biopharma's shares have traded down slightly to $8.24, with a twelve-month low of $2.73 and a high of $8.51, showing volatility in its stock performance.

Xeris Biopharma (NASDAQ:XERS - Get Free Report)'s stock had its "sell (d-)" rating reissued by Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

A number of other research analysts have also recently issued reports on the company. Leerink Partners lifted their target price on Xeris Biopharma from $7.00 to $9.00 and gave the company an "outperform" rating in a research report on Tuesday, August 19th. HC Wainwright started coverage on Xeris Biopharma in a research report on Tuesday, August 12th. They issued a "buy" rating and a $10.00 target price on the stock. Finally, Wall Street Zen cut Xeris Biopharma from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 5th. Five 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 company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $7.08.

Xeris Biopharma Stock Down 0.5%

Shares of XERS traded down $0.05 during midday trading on Wednesday, reaching $8.24. 1,521,704 shares of the stock were exchanged, compared to its average volume of 2,475,778. The company has a market cap of $1.33 billion, a P/E ratio of -39.21 and a beta of 0.39. The stock's 50 day simple moving average is $7.45 and its 200 day simple moving average is $5.69. Xeris Biopharma has a twelve month low of $2.73 and a twelve month high of $8.51.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.01) EPS for the quarter, beating analysts' consensus estimates of ($0.03) by $0.02. The company had revenue of $67.71 million during the quarter, compared to analyst estimates of $64.58 million. As a group, analysts predict that Xeris Biopharma will post -0.41 earnings per share for the current year.

Insiders Place Their Bets

In other Xeris Biopharma news, Director Jeffrey W. Sherman sold 42,232 shares of the stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $7.92, for a total transaction of $334,477.44. Following the transaction, the director directly owned 219,188 shares in the company, valued at approximately $1,735,968.96. This represents a 16.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Johnson sold 107,500 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $7.32, for a total value of $786,900.00. Following the transaction, the director directly owned 833,483 shares in the company, valued at $6,101,095.56. The trade was a 11.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 207,732 shares of company stock valued at $1,550,437 over the last 90 days. 4.56% of the stock is currently owned by corporate insiders.

Institutional Trading of Xeris Biopharma

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC increased its stake in Xeris Biopharma by 31.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,268 shares of the company's stock valued at $55,000 after purchasing an additional 3,847 shares in the last quarter. Xponance Inc. bought a new stake in Xeris Biopharma during the 1st quarter valued at $57,000. FORA Capital LLC bought a new stake in Xeris Biopharma during the 1st quarter valued at $60,000. FNY Investment Advisers LLC purchased a new stake in Xeris Biopharma in the 1st quarter valued at $63,000. Finally, Tower Research Capital LLC TRC raised its position in Xeris Biopharma by 913.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 17,395 shares of the company's stock valued at $81,000 after buying an additional 15,678 shares during the last quarter. Institutional investors own 42.75% of the company's stock.

Xeris Biopharma Company Profile

Xeris Biopharma Holdings, Inc, a biopharmaceutical company, engages in developing and commercializing therapies in Illinois. The company offers Gvoke, a ready-to-use liquid-stable glucagon for the treatment of severe hypoglycemia pediatric and adult patients; Keveyis, a therapy for the treatment of hyperkalemic, hypokalemic, and related variants of primary periodic paralysis; and Recorlev, a cortisol synthesis inhibitor proved for the treatment of endogenous hypercortisolemia in adult patients with Cushing's syndrome.

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