Xeris Biopharma (NASDAQ:XERS) Upgraded at Zacks Investment Research

Xeris Biopharma (NASDAQ:XERSGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

According to Zacks, “Xeris Biopharma Holdings is a biopharmaceutical company. It involved in developing and commercializing therapies for patient in endocrinology, neurology and gastroenterology. The company’s principal product includes Gvoke(R), a ready-to-use liquid glucagon for the treatment of severe hypoglycemia and Keveyis(R), the first and only FDA-approved therapy for primary periodic paralysis. Xeris Biopharma Holdings, formerly known as Xeris Pharmaceuticals Inc., is headquartered in Chicago, IL. “

XERS has been the subject of several other reports. Mizuho lowered their target price on Xeris Biopharma from $8.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, March 16th. HC Wainwright restated a “buy” rating and set a $6.00 price objective (down from $8.00) on shares of Xeris Biopharma in a research note on Friday, March 11th. SVB Leerink decreased their price objective on Xeris Biopharma from $8.00 to $6.00 and set an “outperform” rating for the company in a research note on Wednesday, February 16th. Finally, Craig Hallum assumed coverage on Xeris Biopharma in a research note on Thursday, April 28th. They set a “buy” rating and a $6.50 price objective for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $6.13.

Shares of XERS stock traded down $0.04 during mid-day trading on Thursday, hitting $2.15. The stock had a trading volume of 28,788 shares. Xeris Biopharma has a 12-month low of $1.25 and a 12-month high of $4.98. The firm has a market capitalization of $142.98 million and a P/E ratio of -1.46. The firm’s 50-day moving average is $2.45 and its two-hundred day moving average is $2.34. The company has a debt-to-equity ratio of 1.43, a current ratio of 2.67 and a quick ratio of 2.42.

Xeris Biopharma (NASDAQ:XERSGet Rating) last issued its earnings results on Thursday, March 10th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.21). Xeris Biopharma had a negative return on equity of 258.57% and a negative net margin of 217.81%. The firm had revenue of $21.43 million during the quarter, compared to analysts’ expectations of $20.72 million. During the same quarter in the prior year, the company posted ($0.41) earnings per share. Analysts expect that Xeris Biopharma will post -0.8 EPS for the current year.

In other Xeris Biopharma news, insider Paul R. Edick bought 100,000 shares of Xeris Biopharma stock in a transaction that occurred on Thursday, May 12th. The shares were bought at an average cost of $1.40 per share, with a total value of $140,000.00. Following the transaction, the insider now directly owns 1,508,064 shares of the company’s stock, valued at approximately $2,111,289.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Prestrelski sold 11,228 shares of the company’s stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $2.42, for a total value of $27,171.76. The disclosure for this sale can be found here. Corporate insiders own 4.01% of the company’s stock.

Several hedge funds have recently made changes to their positions in XERS. Running Point Capital Advisors LLC acquired a new position in shares of Xeris Biopharma in the first quarter valued at about $26,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Xeris Biopharma in the first quarter valued at about $28,000. CTC Capital Management LLC acquired a new position in shares of Xeris Biopharma in the first quarter valued at about $30,000. Whitener Capital Management Inc. acquired a new position in shares of Xeris Biopharma in the first quarter valued at about $30,000. Finally, Raymond James & Associates acquired a new stake in Xeris Biopharma during the fourth quarter worth about $33,000. 18.72% of the stock is currently owned by institutional investors and hedge funds.

Xeris Biopharma Company Profile (Get Rating)

Xeris Biopharma Holdings, Inc, a biopharmaceutical company, engages in developing and commercializing therapies for patient populations in endocrinology, neurology, and gastroenterology. The company markets Gvoke, a ready-to-use liquid glucagon for the treatment of severe hypoglycemia; and 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.

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