Xeris Biopharma (NASDAQ:XERS) Insider Kevin Mcculloch Sells 15,000 Shares

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) insider Kevin Mcculloch sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $8.00, for a total value of $120,000.00. Following the completion of the sale, the insider directly owned 1,685,426 shares of the company’s stock, valued at $13,483,408. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Xeris Biopharma Stock Performance

NASDAQ:XERS opened at $7.93 on Friday. The firm has a market capitalization of $1.32 billion, a PE ratio of -79.29 and a beta of 0.50. The stock’s fifty day moving average is $7.36 and its 200 day moving average is $7.17. Xeris Biopharma Holdings, Inc. has a fifty-two week low of $3.14 and a fifty-two week high of $10.08.

Xeris Biopharma (NASDAQ:XERS) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.00 earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.01). The business had revenue of $74.38 million for the quarter, compared to analyst estimates of $74.19 million. Equities analysts forecast that Xeris Biopharma Holdings, Inc. will post -0.41 EPS for the current year.

Institutional Investors Weigh In On Xeris Biopharma

Several hedge funds have recently modified their holdings of the business. AlphaQuest LLC purchased a new position in Xeris Biopharma during the third quarter valued at approximately $35,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Xeris Biopharma by 179.3% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 7,789 shares of the company’s stock worth $63,000 after acquiring an additional 5,000 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Xeris Biopharma during the 3rd quarter worth $68,000. Mercer Global Advisors Inc. ADV bought a new stake in Xeris Biopharma during the third quarter valued at about $85,000. Finally, Brooklyn Investment Group bought a new stake in Xeris Biopharma during the third quarter valued at about $99,000. Hedge funds and other institutional investors own 42.75% of the company’s stock.

Wall Street Analysts Forecast Growth

XERS has been the subject of a number of research analyst reports. Piper Sandler raised their price target on Xeris Biopharma from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th. Oppenheimer reiterated an “outperform” rating and set a $18.00 target price on shares of Xeris Biopharma in a research report on Friday, November 7th. Zacks Research downgraded shares of Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Xeris Biopharma in a research report on Friday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xeris Biopharma in a research report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Xeris Biopharma has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

Xeris Biopharma Company 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.