Xeris Biopharma (NASDAQ:XERS) Trading Down 8.7% – Time to Sell?

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) shares dropped 8.7% during mid-day trading on Wednesday . The company traded as low as $7.72 and last traded at $7.7440. 1,647,458 shares changed hands during trading, a decline of 10% from the average session volume of 1,833,908 shares. The stock had previously closed at $8.48.

Analyst Upgrades and Downgrades

XERS has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Xeris Biopharma from a “buy” rating to a “hold” rating in a research note on Saturday. Barclays raised their target price 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. Finally, Weiss Ratings lowered Xeris Biopharma from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Xeris Biopharma currently has a consensus rating of “Hold” and an average target price of $12.00.

Xeris Biopharma Trading Down 8.9%

The company has a 50-day moving average price of $8.43 and a 200 day moving average price of $7.00. The company has a current ratio of 1.45, a quick ratio of 1.02 and a debt-to-equity ratio of 17.00. The stock has a market capitalization of $1.41 billion, a P/E ratio of -70.41 and a beta of 0.70.

Xeris Biopharma (NASDAQ:XERS) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.19). The business had revenue of $92.10 million for the quarter, compared to analysts’ expectations of $90.12 million. Xeris Biopharma had a positive return on equity of 338.21% and a negative net margin of 5.12%. On average, research analysts forecast that Xeris Biopharma Holdings, Inc. will post 0.07 earnings per share for the current fiscal year.

Insider Transactions at Xeris Biopharma

In other news, insider Steven Pieper sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $8.50, for a total transaction of $42,500.00. Following the sale, the insider directly owned 1,356,053 shares of the company’s stock, valued at $11,526,450.50. The trade was a 0.37% decrease in their ownership of the stock. 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 Kevin McCulloch sold 15,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $8.49, for a total value of $127,350.00. Following the completion of the transaction, the insider directly owned 1,639,208 shares in the company, valued at approximately $13,916,875.92. 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 224,998 shares of company stock worth $1,847,219. Company insiders own 4.35% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of XERS. BlackRock Inc. purchased a new stake in Xeris Biopharma in the second quarter valued at approximately $115,042,000. Legal & General Group Plc purchased a new stake in shares of Xeris Biopharma in the 2nd quarter valued at $15,941,000. Parkman Healthcare Partners LLC acquired a new stake in shares of Xeris Biopharma in the second quarter worth $14,316,000. UBS Group AG increased its stake in shares of Xeris Biopharma by 682.4% in the third quarter. UBS Group AG now owns 1,782,734 shares of the company’s stock worth $14,511,000 after acquiring an additional 1,554,869 shares during the period. Finally, Bank of America Corp DE acquired a new stake in shares of Xeris Biopharma in the second quarter worth $11,065,000. 42.75% of the stock is currently owned by hedge funds and other institutional investors.

About Xeris Biopharma

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.