Xeris Biopharma (NASDAQ:XERS) Shares Up 15.2% After Better-Than-Expected Earnings

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS)’s share price traded up 15.2% during trading on Friday following a stronger than expected earnings report. The company traded as high as $15.00 and last traded at $15.0660. 5,693,013 shares traded hands during trading, an increase of 172% from the average daily volume of 2,095,081 shares. The stock had previously closed at $13.08.

The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. Xeris Biopharma had a negative net margin of 5.12% and a positive return on equity of 338.21%. The company had revenue of $107.23 million for the quarter, compared to the consensus estimate of $101.68 million.

Trending Headlines about Xeris Biopharma

Here are the key news stories impacting Xeris Biopharma this week:

• Positive Sentiment: Q3 results topped estimates: Xeris reported earnings of $0.06 per share versus consensus of $0.03, and revenue of $107.23 million versus forecasts of $101.68 million. Earnings also improved from break-even a year earlier. Article: Xeris Biopharma Shares Jump After Q3 Results Top Estimates
• Positive Sentiment: Strong Recorlev outlook: CEO John Shannon said the product could approach $1 billion in annual sales three to four years earlier than previously expected, reinforcing the company’s longer-term growth story. Article: Xeris CEO Sees Recorlev Nearing $1B in Annual Sales Earlier Than Expected
• Positive Sentiment: Two bullish analyst updates: Oppenheimer reaffirmed its outperform rating and raised its target to $21 from $18; HC Wainwright raised its target to $18 from $10 and assigned a buy rating.
• Neutral Sentiment: Analyst views diverge: Piper Sandler kept its neutral rating but lifted its target to $12 from $8, still below the recent share price. That cautious view may temper enthusiasm after the rally.
• Negative Sentiment: Insider sales: Several insiders sold shares at $10.23 under pre-arranged trading plans. The sales were small relative to their remaining holdings and occurred before the recent earnings-driven move, so they may have limited significance.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on XERS shares. Leerink Partners increased their price objective on Xeris Biopharma from $12.00 to $16.00 and gave the company an “outperform” rating in a report on Thursday, September 10th. Piper Sandler restated a “neutral” rating and set a $12.00 target price (up from $8.00) on shares of Xeris Biopharma in a research report on Friday. Weiss Ratings downgraded Xeris Biopharma from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded Xeris Biopharma from a “hold” rating to a “buy” rating in a report on Saturday, September 19th. Finally, HC Wainwright increased their price objective on shares of Xeris Biopharma from $10.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Xeris Biopharma presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.20.

Insider Activity

In other Xeris Biopharma news, insider Beth Hecht sold 25,000 shares of the firm’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $10.23, for a total transaction of $255,750.00. Following the transaction, the insider directly owned 1,086,130 shares in the company, valued at $11,111,109.90. This trade represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Pieper sold 5,000 shares of the company’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $10.23, for a total transaction of $51,150.00. Following the transaction, the insider owned 1,346,053 shares of the company’s stock, valued at approximately $13,770,122.19. The trade was a 0.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 148,332 shares of company stock worth $1,409,221 over the last three months. Corporate insiders own 4.35% of the company’s stock.

Institutional Trading of Xeris Biopharma

Institutional investors have recently bought and sold shares of the business. KBC Group NV acquired a new position in shares of Xeris Biopharma in the first quarter valued at approximately $27,000. GK Wealth Management LLC bought a new position in Xeris Biopharma in the third quarter valued at approximately $32,000. Allworth Financial LP acquired a new position in shares of Xeris Biopharma during the second quarter worth $34,000. State of Wyoming bought a new stake in shares of Xeris Biopharma in the 2nd quarter worth approximately $52,000. Finally, William Mack & Associates Inc. bought a new position in shares of Xeris Biopharma in the 3rd quarter worth $53,000. Institutional investors and hedge funds own 42.75% of the company’s stock.

Xeris Biopharma Stock Up 15.2%

The company has a market cap of $2.75 billion, a PE ratio of -136.82 and a beta of 0.61. The company has a debt-to-equity ratio of 17.00, a quick ratio of 1.02 and a current ratio of 1.45. The stock’s 50 day moving average price is $9.49 and its 200-day moving average price is $7.58.

About Xeris Biopharma

Xeris Biopharma, Inc is a specialty pharmaceutical company focused on developing and commercializing therapies for patients with endocrinology, gastroenterology and other serious or chronic conditions. The company uses proprietary formulation and delivery technologies designed to make complex therapies more stable, convenient and suitable for self-administration.

Xeris’ commercial portfolio includes Gvoke, a ready-to-use glucagon injection for the treatment of severe hypoglycemia in adults and children with diabetes; Recorlev (levoketoconazole), an oral therapy for endogenous hypercortisolemia associated with endogenous Cushing’s syndrome; and Keveyis (dichlorphenamide), a treatment for primary periodic paralysis.