Xeris Biopharma (NASDAQ:XERS) Upgraded to Strong-Buy at Zacks Research

Key Points

• Xeris Biopharma has been upgraded from a "hold" rating to a "strong-buy" by Zacks Research, indicating increased confidence in the company’s stock.
• Analysts have varying opinions on Xeris Biopharma's stock, with one "Strong Buy," five "Buy," one "Hold," and one "Sell" rating, leading to an average rating of "Moderate Buy."
• The company's most recent earnings report exceeded expectations, with revenue of $67.71 million, surpassing estimates of $64.58 million.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) was upgraded by equities researchers at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Monday,Zacks.com reports.

Several other research firms have also recently commented on XERS. Leerink Partners raised their price target on Xeris Biopharma from $7.00 to $9.00 and gave the company an "outperform" rating in a report on Tuesday, August 19th. Weiss Ratings reissued a "sell (d-)" rating on shares of Xeris Biopharma in a research note on Wednesday, October 8th. Wall Street Zen lowered Xeris Biopharma from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Finally, HC Wainwright began coverage on Xeris Biopharma in a research note on Tuesday, August 12th. They set a "buy" rating and a $10.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $7.08.

Xeris Biopharma Price Performance

Xeris Biopharma stock opened at $8.12 on Monday. Xeris Biopharma has a 12 month low of $2.82 and a 12 month high of $8.51. The business has a 50 day simple moving average of $7.73 and a 200-day simple moving average of $5.77. The stock has a market capitalization of $1.31 billion, a PE ratio of -38.66 and a beta of 0.39.

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

Insiders Place Their Bets

In other Xeris Biopharma news, Director Jeffrey W. Sherman sold 42,232 shares of the business's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $7.92, for a total transaction of $334,477.44. Following the completion of the sale, the director directly owned 219,188 shares in the company, valued at $1,735,968.96. The trade was a 16.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Johnson sold 107,500 shares of the business's stock in a transaction that occurred 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 sale, the director owned 833,483 shares of the company's stock, valued at approximately $6,101,095.56. This represents a 11.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 207,732 shares of company stock worth $1,550,437. 4.56% of the stock is owned by company insiders.

Institutional Investors Weigh In On Xeris Biopharma

Several institutional investors have recently bought and sold shares of the business. Nuveen LLC acquired a new stake in Xeris Biopharma in the first quarter valued at approximately $12,240,000. Qube Research & Technologies Ltd grew its stake in Xeris Biopharma by 67.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 3,089,771 shares of the company's stock valued at $14,429,000 after purchasing an additional 1,245,188 shares in the last quarter. Parkman Healthcare Partners LLC grew its stake in Xeris Biopharma by 207.8% during the 1st 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 in the last quarter. Goldman Sachs Group Inc. grew its stake in Xeris Biopharma by 75.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,790,014 shares of the company's stock valued at $15,317,000 after purchasing an additional 1,199,435 shares in the last quarter. Finally, CenterBook Partners LP grew its stake in Xeris Biopharma by 237.7% during the 2nd quarter. CenterBook Partners LP now owns 1,594,229 shares of the company's stock valued at $7,445,000 after purchasing an additional 1,122,154 shares in the last quarter. 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.

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