Wall Street Zen Downgrades Xeris Biopharma (NASDAQ:XERS) to Hold

by · The Markets Daily

Xeris Biopharma (NASDAQ:XERS – Get Free Report) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other research analysts also recently issued reports about 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 report on Thursday, August 20th. Weiss Ratings downgraded shares of Xeris Biopharma from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Xeris Biopharma presently has a consensus rating of “Hold” and a consensus price target of $12.00.

Get Our Latest Research Report on Xeris Biopharma

Xeris Biopharma Stock Performance

XERS stock opened at $8.53 on Friday. The stock’s 50 day simple moving average is $8.41 and its 200 day simple moving average is $6.98. Xeris Biopharma has a 12-month low of $5.25 and a 12-month high of $10.08. The firm has a market cap of $1.56 billion, a P/E ratio of -77.55 and a beta of 0.70. The company has a current ratio of 1.45, a quick ratio of 1.02 and a debt-to-equity ratio of 17.00.

Xeris Biopharma (NASDAQ:XERS – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.19). Xeris Biopharma had a positive return on equity of 338.21% and a negative net margin of 5.12%.The business had revenue of $92.10 million during the quarter, compared to analyst estimates of $90.12 million. As a group, equities research analysts predict that Xeris Biopharma will post 0.07 EPS for the current year.

Insider Buying and Selling

In related news, insider Beth Hecht sold 16,666 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $8.49, for a total transaction of $141,494.34. Following the completion of the transaction, the insider directly owned 1,127,796 shares in the company, valued at $9,574,988.04. This represents a 1.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Pieper sold 27,600 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $8.52, for a total value of $235,152.00. Following the completion of the sale, the insider directly owned 1,366,053 shares in the company, valued at $11,638,771.56. This represents a 1.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 224,998 shares of company stock worth $1,847,219 in the last three months. 4.35% of the stock is owned by insiders.

Institutional Trading of Xeris Biopharma

A number of large investors have recently modified their holdings of XERS. Allianz Asset Management GmbH bought a new stake in shares of Xeris Biopharma during the second quarter valued at approximately $314,000. Corient Private Wealth LP bought a new position in Xeris Biopharma in the 2nd quarter worth approximately $1,458,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Xeris Biopharma in the 2nd quarter valued at approximately $89,000. California State Teachers Retirement System increased its position in Xeris Biopharma by 720.4% in the 2nd quarter. California State Teachers Retirement System now owns 1,479,456 shares of the company’s stock valued at $11,717,000 after acquiring an additional 1,299,117 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Xeris Biopharma by 2.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 687,632 shares of the company’s stock valued at $5,446,000 after acquiring an additional 19,558 shares in the last quarter. Institutional investors and hedge funds own 42.75% of the company’s stock.

About Xeris Biopharma

(Get Free Report)

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.

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