Xeris Biopharma (NASDAQ:XERS) Trading 8.4% Higher on Insider Buying Activity

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Get Free Report)'s share price was up 8.4% during trading on Tuesday following insider buying activity. The company traded as high as $4.70 and last traded at $4.77. Approximately 437,729 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 1,978,886 shares. The stock had previously closed at $4.40.

Specifically, insider Kevin Mcculloch acquired 25,000 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was acquired at an average cost of $4.38 per share, with a total value of $109,500.00. Following the transaction, the insider now owns 1,708,585 shares in the company, valued at approximately $7,483,602.30. This trade represents a 1.48% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Leerink Partners raised their price target on Xeris Biopharma from $5.00 to $6.00 and gave the company an "outperform" rating in a research note on Friday, March 7th. Craig Hallum raised their target price on Xeris Biopharma from $5.00 to $6.50 and gave the stock a "buy" rating in a research report on Friday, March 7th. Wall Street Zen cut Xeris Biopharma from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Oppenheimer increased their price target on shares of Xeris Biopharma from $6.00 to $7.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. Finally, HC Wainwright reissued a "buy" rating and set a $8.00 price objective (up previously from $6.60) on shares of Xeris Biopharma in a report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Xeris Biopharma presently has an average rating of "Moderate Buy" and a consensus price target of $6.25.

Xeris Biopharma Price Performance

The firm has a market cap of $705.27 million, a price-to-earnings ratio of -15.03 and a beta of 0.71. The stock has a 50-day moving average price of $4.57 and a 200 day moving average price of $4.15.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.01. The firm had revenue of $57.80 million for the quarter, compared to analysts' expectations of $57.61 million. As a group, equities research analysts predict that Xeris Biopharma Holdings, Inc. will post -0.41 earnings per share for the current year.

Hedge Funds Weigh In On Xeris Biopharma

A number of hedge funds have recently modified their holdings of the business. Nuveen LLC acquired a new stake in Xeris Biopharma during the 1st quarter worth $12,240,000. Parkman Healthcare Partners LLC increased its stake in Xeris Biopharma by 207.8% in the first quarter. Parkman Healthcare Partners LLC now owns 1,780,454 shares of the company's stock valued at $9,775,000 after purchasing an additional 1,201,943 shares during the period. Goldman Sachs Group Inc. raised its holdings 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 valued at $15,317,000 after buying an additional 1,199,435 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Xeris Biopharma by 1,387.8% during the first quarter. Invesco Ltd. now owns 1,026,838 shares of the company's stock worth $5,637,000 after buying an additional 957,822 shares during the period. Finally, Driehaus Capital Management LLC boosted its stake in shares of Xeris Biopharma by 137.6% during the first quarter. Driehaus Capital Management LLC now owns 1,411,540 shares of the company's stock worth $7,749,000 after buying an additional 817,525 shares during the period. 42.75% of the stock is currently owned by hedge funds and other institutional investors.

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.