Xeris Biopharma (NASDAQ:XERS) Hits New 12-Month High After Strong Earnings

Key Points

• Xeris Biopharma hit a new 12-month high with its stock trading at $6.69 after reporting better-than-expected quarterly earnings, with an EPS of ($0.01) beating estimates of ($0.03).
• Several analysts have provided mixed ratings on the stock, with Oppenheimer raising the price target from $6.00 to $7.00 while Wall Street Zen downgraded its rating from "buy" to "hold."
• Insider buying activity was noted as Kevin Mcculloch purchased 25,000 shares at $4.38 each, reflecting confidence in the company's performance as insiders currently own 6.47% of the company's stock.

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $6.69 and last traded at $6.53, with a volume of 455129 shares traded. The stock had previously closed at $5.49.

The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.02.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Wall Street Zen cut shares of Xeris Biopharma from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Oppenheimer boosted their price target on shares of Xeris Biopharma from $6.00 to $7.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $6.25.

Insider Transactions at Xeris Biopharma

In other news, insider Kevin Mcculloch purchased 25,000 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were purchased at an average cost of $4.38 per share, with a total value of $109,500.00. Following the completion of the acquisition, the insider owned 1,708,585 shares of the company's stock, valued at approximately $7,483,602.30. This represents a 1.48% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.47% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in Xeris Biopharma during the fourth quarter worth approximately $45,000. Vanguard Group Inc. raised its holdings in Xeris Biopharma by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 7,899,063 shares of the company's stock worth $26,778,000 after purchasing an additional 133,738 shares in the last quarter. Prudential Financial Inc. raised its holdings in Xeris Biopharma by 23.4% during the fourth quarter. Prudential Financial Inc. now owns 36,945 shares of the company's stock worth $125,000 after purchasing an additional 7,000 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Xeris Biopharma by 166.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,043,441 shares of the company's stock worth $3,537,000 after purchasing an additional 651,481 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Xeris Biopharma by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 3,351,426 shares of the company's stock worth $11,364,000 after purchasing an additional 17,956 shares in the last quarter. Hedge funds and other institutional investors own 42.75% of the company's stock.

Xeris Biopharma Stock Up 20.6%

The business's fifty day simple moving average is $4.88 and its two-hundred day simple moving average is $4.53. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -21.61 and a beta of 0.65.

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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