Xeris Biopharma (NASDAQ:XERS) Receives “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Xeris Biopharma (NASDAQ:XERS) in a report issued on Friday morning,Benzinga reports. They currently have a $10.00 price objective on the stock.

XERS has been the topic of several other reports. Weiss Ratings restated a “sell (d-)” rating on shares of Xeris Biopharma in a research report on Wednesday, October 8th. Oppenheimer reissued an “outperform” rating and set a $18.00 price objective on shares of Xeris Biopharma in a report on Friday, November 7th. Wall Street Zen lowered shares of Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 8th. Barclays began coverage on shares of Xeris Biopharma in a research report on Monday, December 8th. They set an “overweight” rating and a $9.00 price target for the company. Finally, Zacks Research lowered Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.50.

Xeris Biopharma Trading Down 2.5%

Shares of XERS opened at $7.93 on Friday. The stock’s 50 day moving average is $7.36 and its two-hundred day moving average is $7.17. Xeris Biopharma has a twelve month low of $3.14 and a twelve month high of $10.08. The firm has a market capitalization of $1.32 billion, a PE ratio of -79.29 and a beta of 0.50.

Xeris Biopharma (NASDAQ:XERS) last issued its earnings results on Thursday, November 6th. The company reported $0.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.01). The firm had revenue of $74.38 million during the quarter, compared to analyst estimates of $74.19 million. On average, sell-side analysts predict that Xeris Biopharma will post -0.41 EPS for the current year.

Insiders Place Their Bets

In related news, insider Beth Hecht sold 16,667 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $7.40, for a total transaction of $123,335.80. Following the transaction, the insider owned 1,336,843 shares of the company’s stock, valued at approximately $9,892,638.20. This represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Patrick Shannon, Jr. sold 24,907 shares of Xeris Biopharma stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $7.08, for a total transaction of $176,341.56. Following the completion of the sale, the insider directly owned 2,705,346 shares of the company’s stock, valued at $19,153,849.68. The trade was a 0.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 263,550 shares of company stock valued at $1,917,672. 6.47% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Xeris Biopharma

Several institutional investors have recently added to or reduced their stakes in XERS. Royal Bank of Canada boosted its stake in Xeris Biopharma by 1,411.2% in the 1st quarter. Royal Bank of Canada now owns 213,084 shares of the company’s stock worth $1,170,000 after buying an additional 198,984 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Xeris Biopharma by 13.4% during the 1st quarter. AQR Capital Management LLC now owns 946,766 shares of the company’s stock worth $5,198,000 after acquiring an additional 111,826 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Xeris Biopharma in the first quarter worth approximately $1,403,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Xeris Biopharma by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,982 shares of the company’s stock worth $461,000 after acquiring an additional 3,594 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Xeris Biopharma by 19.0% in the first quarter. Millennium Management LLC now owns 2,317,972 shares of the company’s stock valued at $12,726,000 after purchasing an additional 369,420 shares during the period. 42.75% of the stock is currently owned by institutional investors and hedge funds.

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.