Xeris Biopharma (NASDAQ:XERS) Shares Gap Down Following Weak Earnings

Shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $8.11, but opened at $7.19. Xeris Biopharma shares last traded at $7.2950, with a volume of 707,331 shares.

The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.19). The firm had revenue of $92.10 million during the quarter, compared to the consensus estimate of $90.12 million. Xeris Biopharma had a net margin of 3.81% and a return on equity of 735.00%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Xeris Biopharma from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 23rd. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Xeris Biopharma has a consensus rating of “Moderate Buy” and a consensus price target of $10.80.

Insider Activity

In other Xeris Biopharma news, Director Dawn Halkuff sold 20,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $6.09, for a total value of $121,800.00. Following the completion of the transaction, the director directly owned 95,000 shares of the company’s stock, valued at approximately $578,550. The trade was a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Beth Hecht sold 16,667 shares of Xeris Biopharma stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $6.06, for a total value of $101,002.02. Following the transaction, the insider owned 1,176,506 shares in the company, valued at $7,129,626.36. This trade represents a 1.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 266,499 shares of company stock valued at $1,996,417. Company insiders own 4.35% of the company’s stock.

Institutional Investors Weigh In On Xeris Biopharma

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cetera Investment Advisers boosted its holdings in Xeris Biopharma by 3.9% during the second quarter. Cetera Investment Advisers now owns 46,332 shares of the company’s stock worth $216,000 after purchasing an additional 1,735 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Xeris Biopharma by 29.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,063 shares of the company’s stock worth $63,000 after buying an additional 1,820 shares in the last quarter. Royal Bank of Canada lifted its position in Xeris Biopharma by 6.5% during the 4th quarter. Royal Bank of Canada now owns 38,636 shares of the company’s stock worth $304,000 after buying an additional 2,351 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of Xeris Biopharma by 17.7% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 16,070 shares of the company’s stock worth $126,000 after buying an additional 2,420 shares during the last quarter. Finally, AlphaCentric Advisors LLC boosted its stake in shares of Xeris Biopharma by 5.7% during the 1st quarter. AlphaCentric Advisors LLC now owns 45,886 shares of the company’s stock worth $266,000 after buying an additional 2,494 shares during the last quarter. Institutional investors and hedge funds own 42.75% of the company’s stock.

Xeris Biopharma Price Performance

The company has a market cap of $1.23 billion, a P/E ratio of 118.50 and a beta of 0.66. The company has a fifty day moving average price of $7.62 and a two-hundred day moving average price of $6.79. The company has a debt-to-equity ratio of 17.00, a quick ratio of 1.50 and a current ratio of 2.12.

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.