Xeris Biopharma (NASDAQ:XERS) Raised to Strong-Buy at Wall Street Zen

Key Points

• Xeris Biopharma has been upgraded to a strong-buy rating by Wall Street Zen, indicating increasing investor confidence in the company.
• The stock currently has an average price target of $7.08 with various analysts providing mixed ratings, including one strong buy and one sell.
• Xeris Biopharma reported a quarterly revenue of $67.71 million, exceeding analyst expectations, and has seen significant insider stock sales recently.

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

Other research analysts have also recently issued research reports about the stock. Zacks Research upgraded shares of Xeris Biopharma from a "hold" rating to a "strong-buy" rating in a report on Monday, October 13th. Leerink Partners boosted their price objective on shares of Xeris Biopharma from $7.00 to $9.00 and gave the company an "outperform" rating in a report on Tuesday, August 19th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Xeris Biopharma in a report on Wednesday, October 8th. Finally, HC Wainwright started coverage on shares of Xeris Biopharma in a report on Tuesday, August 12th. They issued a "buy" rating and a $10.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $7.08.

Xeris Biopharma Stock Performance

Shares of NASDAQ XERS opened at $9.24 on Friday. The stock has a market cap of $1.49 billion, a P/E ratio of -44.00 and a beta of 0.39. The firm has a 50 day moving average price of $7.90 and a 200 day moving average price of $5.85. Xeris Biopharma has a 52-week low of $2.82 and a 52-week high of $9.41.

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

Insider Activity at Xeris Biopharma

In other news, Director Marla Persky sold 15,500 shares of the business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $7.72, for a total value of $119,660.00. Following the sale, the director owned 142,000 shares of the company's stock, valued at $1,096,240. The trade was a 9.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John Johnson sold 107,500 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $7.32, for a total transaction of $786,900.00. Following the completion of the sale, the director directly owned 833,483 shares in the company, valued at approximately $6,101,095.56. This represents a 11.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 207,732 shares of company stock worth $1,550,437 over the last ninety days. 6.47% of the stock is owned by corporate insiders.

Institutional Trading of Xeris Biopharma

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Xeris Biopharma by 2.7% in the first quarter. Vanguard Group Inc. now owns 8,109,644 shares of the company's stock worth $44,522,000 after purchasing an additional 210,581 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Xeris Biopharma by 7.2% in the second quarter. Geode Capital Management LLC now owns 3,650,688 shares of the company's stock worth $17,052,000 after purchasing an additional 244,862 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in shares of Xeris Biopharma by 67.5% in the second quarter. Qube Research & Technologies Ltd now owns 3,089,771 shares of the company's stock worth $14,429,000 after purchasing an additional 1,245,188 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Xeris Biopharma by 75.4% in the first quarter. Goldman Sachs Group Inc. now owns 2,790,014 shares of the company's stock worth $15,317,000 after purchasing an additional 1,199,435 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Xeris Biopharma by 19.0% in the first quarter. Millennium Management LLC now owns 2,317,972 shares of the company's stock worth $12,726,000 after purchasing an additional 369,420 shares in the last quarter. Institutional investors own 42.75% of the company's stock.

About Xeris Biopharma

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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