104,410 Shares in Xeris Biopharma Holdings, Inc. $XERS Bought by Palo Alto Investors LP

Palo Alto Investors LP purchased a new stake in Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 104,410 shares of the company’s stock, valued at approximately $826,927,000. Palo Alto Investors LP owned 0.06% of Xeris Biopharma at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Kestra Advisory Services LLC bought a new stake in shares of Xeris Biopharma in the 4th quarter worth approximately $25,000. KBC Group NV acquired a new stake in shares of Xeris Biopharma during the 1st quarter worth approximately $27,000. Allworth Financial LP bought a new stake in shares of Xeris Biopharma during the second quarter valued at approximately $34,000. State of Wyoming bought a new stake in shares of Xeris Biopharma during the second quarter valued at approximately $52,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Xeris Biopharma by 9,276.3% in the fourth 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. 42.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Barclays raised their price target on shares of Xeris Biopharma from $9.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, August 20th. Wall Street Zen lowered Xeris Biopharma from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings cut Xeris Biopharma from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $12.00.

Insider Buying and Selling

In other news, insider Beth Hecht sold 16,667 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $6.06, for a total value of $101,002.02. Following the transaction, the insider owned 1,176,506 shares of the company’s stock, valued at $7,129,626.36. This represents a 1.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dawn Halkuff sold 20,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $6.09, for a total value of $121,800.00. Following the completion of the transaction, the director owned 95,000 shares in the company, valued at $578,550. This represents a 17.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 271,499 shares of company stock worth $2,038,917 over the last 90 days. 4.35% of the stock is currently owned by corporate insiders.

Xeris Biopharma Price Performance

NASDAQ:XERS opened at $8.60 on Friday. The firm has a market cap of $1.57 billion, a PE ratio of -78.18 and a beta of 0.66. Xeris Biopharma Holdings, Inc. has a 12 month low of $5.25 and a 12 month high of $10.08. The company has a quick ratio of 1.02, a current ratio of 1.45 and a debt-to-equity ratio of 17.00. The company’s 50-day moving average price is $8.26 and its two-hundred day moving average price is $6.92.

Xeris Biopharma (NASDAQ:XERS) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.19). Xeris Biopharma had a negative net margin of 5.12% and a positive return on equity of 338.21%. The business had revenue of $92.10 million for the quarter, compared to analyst estimates of $90.12 million. On average, equities analysts anticipate that Xeris Biopharma Holdings, Inc. will post 0.07 EPS for the current fiscal year.

Xeris Biopharma Profile

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.