Xeris Biopharma (NASDAQ:XERS) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Xeris Biopharma (NASDAQ:XERS) from a strong-buy rating to a hold rating in a report released on Saturday.

Several other equities research analysts also recently weighed in on the company. HC Wainwright began coverage on Xeris Biopharma in a report on Tuesday, August 12th. They issued a “buy” rating and a $10.00 price target for the company. Zacks Research downgraded shares of Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Leerink Partners lifted their price objective on shares of Xeris Biopharma from $7.00 to $9.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Xeris Biopharma in a research report on Wednesday, October 8th. Finally, Oppenheimer boosted their price target on Xeris Biopharma from $8.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Xeris Biopharma has an average rating of “Moderate Buy” and an average target price of $8.92.

Xeris Biopharma Trading Down 3.6%

Shares of NASDAQ:XERS traded down $0.28 during trading on Friday, reaching $7.43. The stock had a trading volume of 5,532,383 shares, compared to its average volume of 2,736,889. The firm’s 50-day simple moving average is $8.39 and its 200 day simple moving average is $6.39. Xeris Biopharma has a one year low of $2.82 and a one year high of $10.08. The company has a market capitalization of $1.20 billion, a P/E ratio of -74.29 and a beta of 0.21.

Xeris Biopharma (NASDAQ:XERS) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.02. The business had revenue of $67.71 million for the quarter, compared to analysts’ expectations of $64.58 million. Equities research analysts forecast that Xeris Biopharma will post -0.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Xeris Biopharma news, Director John Johnson sold 107,500 shares of the company’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 value of $786,900.00. Following the sale, the director owned 833,483 shares in the company, valued at approximately $6,101,095.56. This represents a 11.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 transaction of $119,660.00. Following the completion of the transaction, the director owned 142,000 shares of the company’s stock, valued at approximately $1,096,240. This represents a 9.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 207,732 shares of company stock valued at $1,550,437. Insiders own 6.47% of the company’s stock.

Institutional Investors Weigh In On Xeris Biopharma

Institutional investors have recently modified their holdings of the business. AlphaQuest LLC acquired a new position in Xeris Biopharma in the 3rd quarter worth about $35,000. Xponance Inc. acquired a new stake in Xeris Biopharma in the first quarter valued at approximately $57,000. FORA Capital LLC purchased a new stake in shares of Xeris Biopharma in the first quarter valued at approximately $60,000. State of Alaska Department of Revenue acquired a new position in shares of Xeris Biopharma during the 3rd quarter worth approximately $68,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Xeris Biopharma by 913.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 17,395 shares of the company’s stock valued at $81,000 after buying an additional 15,678 shares in the last quarter. 42.75% of the stock is currently owned by institutional investors and hedge funds.

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.