Xeris Biopharma (NASDAQ:XERS) Upgraded by Wall Street Zen to Strong-Buy Rating

Key Points

• Wall Street Zen upgraded Xeris Biopharma to a "strong-buy" from "buy".
• Analyst views are mixed overall—four Buys and three Holds—giving Xeris a consensus rating of "Moderate Buy" with a consensus target price of $10.80 (individual targets range roughly $8 to $18).
• The stock opened at $5.81 (down ~3.8%), market cap ~$1.0B; Xeris reported $0.06 EPS beating estimates by $0.03 on $85.8M revenue, while insiders sold about 240,308 shares (~$1.73M) over the past three months.

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 note issued on Saturday.

Several other analysts have also issued reports on XERS. Piper Sandler upped their price target on shares of Xeris Biopharma from $6.00 to $8.00 and gave the company a "neutral" rating in a research report on Friday, November 7th. Weiss Ratings raised Xeris Biopharma from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Wednesday. Barclays started coverage on Xeris Biopharma in a report on Monday, December 8th. They set an "overweight" rating and a $9.00 target price for the company. Oppenheimer reaffirmed an "outperform" rating and issued a $18.00 price target on shares of Xeris Biopharma in a research note on Friday, November 7th. Finally, HC Wainwright reissued a "buy" rating and set a $10.00 price objective on shares of Xeris Biopharma in a research note on Monday, March 2nd. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Xeris Biopharma presently has an average rating of "Moderate Buy" and a consensus target price of $10.80.

Xeris Biopharma Trading Down 3.8%

Shares of XERS opened at $5.81 on Friday. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of -580.42 and a beta of 0.61. The company has a debt-to-equity ratio of 16.10, a quick ratio of 1.35 and a current ratio of 2.19. Xeris Biopharma has a fifty-two week low of $3.81 and a fifty-two week high of $10.08. The firm has a 50 day moving average price of $7.10 and a 200-day moving average price of $7.59.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last announced its quarterly earnings data on Monday, March 2nd. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. The company had revenue of $85.81 million during the quarter, compared to analysts' expectations of $86.00 million. Xeris Biopharma had a net margin of 0.19% and a negative return on equity of 5.33%. As a group, equities research analysts forecast that Xeris Biopharma will post -0.41 earnings per share for the current year.

Insider Buying and Selling at Xeris Biopharma

In other Xeris Biopharma news, insider Beth Hecht sold 16,667 shares of the company's stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $7.43, for a total transaction of $123,835.81. Following the completion of the transaction, the insider owned 1,308,103 shares of the company's stock, valued at $9,719,205.29. This represents a 1.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kevin Mcculloch sold 15,000 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $8.00, for a total value of $120,000.00. Following the completion of the sale, the insider owned 1,685,426 shares of the company's stock, valued at approximately $13,483,408. This trade represents a 0.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 240,308 shares of company stock worth $1,732,453 over the last three months. 6.47% of the stock is owned by corporate insiders.

Institutional Trading of Xeris Biopharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC purchased a new position in Xeris Biopharma during the 4th quarter valued at $25,000. AlphaQuest LLC bought a new stake in shares of Xeris Biopharma during the 3rd quarter valued at about $35,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Xeris Biopharma by 9,276.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 7,501 shares of the company's stock valued at $59,000 after purchasing an additional 7,421 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Xeris Biopharma by 29.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,063 shares of the company's stock valued at $63,000 after buying an additional 1,820 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Xeris Biopharma by 179.3% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 7,789 shares of the company's stock worth $63,000 after buying an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 42.75% of the company's stock.

About Xeris Biopharma

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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