Legal & General Group Plc Invests $15.94 Million in Xeris Biopharma Holdings, Inc. $XERS

Legal & General Group Plc acquired a new position in shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,012,792 shares of the company’s stock, valued at approximately $15,941,000. Legal & General Group Plc owned about 1.10% of Xeris Biopharma at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of XERS. The Manufacturers Life Insurance Company acquired a new position in shares of Xeris Biopharma in the second quarter valued at approximately $592,000. Van Hulzen Asset Management LLC acquired a new stake in Xeris Biopharma during the 2nd quarter worth approximately $154,000. Algert Global LLC lifted its holdings in Xeris Biopharma by 50.6% during the 2nd quarter. Algert Global LLC now owns 1,742,942 shares of the company’s stock worth $13,804,000 after buying an additional 585,984 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Xeris Biopharma in the 2nd quarter valued at approximately $1,007,000. Finally, Globeflex Capital L P acquired a new position in shares of Xeris Biopharma in the second quarter worth $1,156,000. 42.75% of the stock is currently owned by hedge funds and other institutional investors.

Xeris Biopharma Stock Performance

Shares of XERS stock opened at $8.48 on Monday. The company has a market cap of $1.55 billion, a P/E ratio of -77.09 and a beta of 0.66. The firm has a fifty day moving average price of $8.29 and a 200 day moving average price of $6.93. The company has a current ratio of 1.45, a quick ratio of 1.02 and a debt-to-equity ratio of 17.00. Xeris Biopharma Holdings, Inc. has a 12 month low of $5.25 and a 12 month high of $10.08.

Xeris Biopharma (NASDAQ:XERS) last issued its quarterly earnings data on Thursday, August 6th. 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 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%. Sell-side analysts predict that Xeris Biopharma Holdings, Inc. will post 0.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Xeris Biopharma

In other news, insider Beth Hecht sold 16,666 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $8.03, for a total transaction of $133,827.98. Following the transaction, the insider directly owned 1,161,128 shares in the company, valued at approximately $9,323,857.84. This trade represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Pieper sold 27,600 shares of Xeris Biopharma stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $8.52, for a total transaction of $235,152.00. Following the completion of the transaction, the insider directly owned 1,366,053 shares in the company, valued at $11,638,771.56. The trade was a 1.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 254,832 shares of company stock valued at $1,937,915. 4.35% of the stock is owned by company insiders.

Analysts Set New Price Targets

XERS has been the subject of several analyst reports. Wall Street Zen cut Xeris Biopharma from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings cut Xeris Biopharma from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Finally, Barclays boosted their price objective on Xeris Biopharma from $9.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, August 20th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Xeris Biopharma presently has an average rating of “Hold” and an average price target of $12.00.

Xeris Biopharma 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.