Xeris Biopharma (NASDAQ:XERS) Downgraded to "Buy" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Xeris Biopharma from “strong buy” to “buy,” while Weiss Ratings upgraded the stock from “sell” to “hold.” Overall, analysts maintain a “Moderate Buy” consensus with an average price target of $10.80.
• Xeris reported quarterly revenue of $92.1 million, exceeding estimates of $90.12 million, but posted an EPS loss of $0.18 versus analysts’ expectation of $0.01 in earnings.
• Insiders sold 266,499 shares worth approximately $2.0 million during the last quarter, while institutional investors own 42.75% of the company.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings raised Xeris Biopharma from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, July 23rd. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $10.80.

Xeris Biopharma Price Performance

XERS opened at $7.93 on Friday. Xeris Biopharma has a one year low of $5.25 and a one year high of $10.08. The company has a debt-to-equity ratio of 17.00, a current ratio of 2.12 and a quick ratio of 1.50. The company's 50 day simple moving average is $7.68 and its 200-day simple moving average is $6.80. The stock has a market capitalization of $1.37 billion, a P/E ratio of -72.09 and a beta of 0.66.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $92.10 million for the quarter, compared to analyst estimates of $90.12 million. Xeris Biopharma had a positive return on equity of 158.10% and a negative net margin of 5.12%. Sell-side analysts anticipate that Xeris Biopharma will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Barbara-Jean A. Bormann-Kennedy sold 16,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $6.09, for a total value of $97,440.00. Following the sale, the director directly owned 126,500 shares in the company, valued at $770,385. This trade represents a 11.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin Mcculloch sold 15,000 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $8.02, for a total transaction of $120,300.00. Following the sale, the insider owned 1,676,126 shares in the company, valued at approximately $13,442,530.52. The trade was a 0.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 266,499 shares of company stock worth $1,996,417 over the last quarter. Insiders own 4.35% of the company's stock.

Institutional Investors Weigh In On Xeris Biopharma

Several institutional investors have recently bought and sold shares of XERS. Cetera Investment Advisers boosted its stake in shares of Xeris Biopharma by 3.9% during the 2nd quarter. Cetera Investment Advisers now owns 46,332 shares of the company's stock worth $216,000 after acquiring an additional 1,735 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Xeris Biopharma by 29.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,063 shares of the company's stock valued at $63,000 after acquiring an additional 1,820 shares during the period. Royal Bank of Canada raised its stake in Xeris Biopharma by 6.5% in the 4th quarter. Royal Bank of Canada now owns 38,636 shares of the company's stock valued at $304,000 after acquiring an additional 2,351 shares during the period. AlphaCentric Advisors LLC lifted its holdings in Xeris Biopharma by 5.7% during the 1st 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 during the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in Xeris Biopharma during the 4th quarter valued at $25,000. Institutional investors own 42.75% of the company's stock.

Xeris Biopharma Company Profile

Xeris Biopharma is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies for endocrine and orphan diseases. The company's proprietary formulation platform is designed to enable liquid stability of drugs that traditionally require reconstitution before injection. By eliminating the need for on-site mixing and simplifying administration, Xeris aims to improve patient safety, adherence, and convenience in high-need therapeutic areas.

The company's flagship product, Gvoke, is a ready-to-use liquid glucagon autoinjector and prefilled syringe that has been approved by the U.S.

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