Xeris Biopharma (NASDAQ:XERS) Sees Strong Trading Volume Following Better-Than-Expected Earnings

Key Points

• Xeris Biopharma reported a quarterly earnings per share (EPS) of ($0.01), exceeding expectations and revenue of $67.71 million, which was also above analyst estimates.
• The company's stock experienced a trading volume surge, increasing 246% to approximately 8.77 million shares after the earnings announcement, with the stock price rising to $6.68.
• Wall Street analysts generally maintain a Moderate Buy consensus rating for Xeris Biopharma, with several institutions recently acquiring new positions in the stock.

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Get Free Report) shares saw unusually-strong trading volume on Friday after the company announced better than expected quarterly earnings. Approximately 8,768,414 shares were traded during trading, an increase of 246% from the previous session's volume of 2,530,612 shares.The stock last traded at $6.68 and had previously closed at $6.60.

The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate 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.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on XERS shares. Wall Street Zen lowered shares of Xeris Biopharma from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Oppenheimer increased their target price on shares of Xeris Biopharma from $6.00 to $7.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $6.25.

Insider Activity at Xeris Biopharma

In other news, insider Kevin Mcculloch acquired 25,000 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were purchased at an average price of $4.38 per share, for a total transaction 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.47% of the company's stock.

Hedge Funds Weigh In On Xeris Biopharma

Institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC acquired a new position in Xeris Biopharma during the fourth quarter valued at approximately $34,000. Raymond James Financial Inc. acquired a new position in Xeris Biopharma in the 4th quarter valued at $45,000. Two Sigma Advisers LP acquired a new position in Xeris Biopharma in the 4th quarter valued at $47,000. Aquatic Capital Management LLC bought a new position in Xeris Biopharma in the 4th quarter worth $50,000. Finally, Apella Capital LLC acquired a new position in Xeris Biopharma during the 1st quarter worth $55,000. 42.75% of the stock is currently owned by institutional investors.

Xeris Biopharma Price Performance

The company has a market capitalization of $1.04 billion, a P/E ratio of -22.28 and a beta of 0.65. The stock's fifty day simple moving average is $4.92 and its 200-day simple moving average is $4.55.

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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