Xeris Biopharma (NASDAQ:XERS) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Xeris Biopharma (NASDAQ:XERS) from a buy rating to a strong-buy rating in a research note published on Saturday morning.

Other research analysts also recently issued reports about the stock. 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 target price on the stock. Piper Sandler lifted their price target on shares of Xeris Biopharma from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. Weiss Ratings raised shares of Xeris Biopharma from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Wednesday. HC Wainwright restated a “buy” rating and issued a $10.00 price objective on shares of Xeris Biopharma in a report on Monday, March 2nd. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of Xeris Biopharma in a research note on Friday, November 7th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.80.

Xeris Biopharma Stock Down 3.8%

NASDAQ XERS opened at $5.81 on Friday. The stock has a market capitalization of $1.00 billion, a P/E ratio of -580.42 and a beta of 0.61. Xeris Biopharma has a 52 week low of $3.81 and a 52 week high of $10.08. The company has a debt-to-equity ratio of 16.10, a quick ratio of 1.35 and a current ratio of 2.19. The stock has a fifty day moving average of $7.10 and a 200-day moving average of $7.59.

Xeris Biopharma (NASDAQ:XERS) last issued its quarterly earnings results on Monday, March 2nd. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. The business had revenue of $85.81 million for the quarter, compared to analyst estimates of $86.00 million. Xeris Biopharma had a negative return on equity of 5.33% and a net margin of 0.19%. On average, equities research analysts forecast that Xeris Biopharma will post -0.41 EPS for the current year.

Insider Activity

In other news, insider John Patrick Shannon, Jr. sold 24,907 shares of the business’s stock in a transaction dated 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 transaction, the insider directly owned 2,705,346 shares in the company, valued at approximately $19,153,849.68. The trade was a 0.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Barbara-Jean A. Bormann-Kennedy sold 15,000 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $7.09, for a total transaction of $106,350.00. Following the completion of the sale, the director owned 142,500 shares in the company, valued at $1,010,325. This represents a 9.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 240,308 shares of company stock valued at $1,732,453. Insiders own 6.47% of the company’s stock.

Institutional Investors Weigh In On Xeris Biopharma

Several hedge funds have recently bought and sold shares of XERS. Kestra Advisory Services LLC acquired a new position in shares of Xeris Biopharma in the 4th quarter valued at $25,000. AlphaQuest LLC acquired a new stake in Xeris Biopharma during the 3rd quarter worth $35,000. Caitong International Asset Management Co. Ltd raised its stake in Xeris Biopharma by 9,276.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 7,501 shares of the company’s stock worth $59,000 after buying an additional 7,421 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Xeris Biopharma by 29.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,063 shares of the company’s stock worth $63,000 after acquiring an additional 1,820 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Xeris Biopharma by 179.3% during the third 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. 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.