Xeris Biopharma (NASDAQ:XERS) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Xeris Biopharma (NASDAQ:XERS) from a buy rating to a hold rating in a report released on Saturday,Wall Street Zen reports.

XERS has been the subject of a number of other reports. Weiss Ratings cut shares of Xeris Biopharma from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Barclays boosted their price target on Xeris Biopharma from $9.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, August 20th. Three 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. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $12.00.

Xeris Biopharma Price Performance

Shares of NASDAQ XERS opened at $8.53 on Friday. The firm has a market capitalization of $1.56 billion, a P/E ratio of -77.55 and a beta of 0.70. Xeris Biopharma has a one year low of $5.25 and a one year high of $10.08. The company’s fifty day moving average is $8.42 and its two-hundred day moving average is $6.99. The company has a debt-to-equity ratio of 17.00, a quick ratio of 1.02 and a current ratio of 1.45.

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

Insider Buying and Selling

In related news, insider Steven Pieper sold 5,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $8.50, for a total value of $42,500.00. Following the sale, the insider directly owned 1,356,053 shares in the company, valued at $11,526,450.50. The trade was a 0.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Beth Hecht sold 16,666 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $8.49, for a total transaction of $141,494.34. Following the completion of the sale, the insider directly owned 1,127,796 shares in the company, valued at approximately $9,574,988.04. The trade was a 1.46% 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. Insiders have sold 224,998 shares of company stock worth $1,847,219 in the last three months. Corporate insiders own 4.35% of the company’s stock.

Institutional Trading of Xeris Biopharma

Several institutional investors and hedge funds have recently modified their holdings of the business. Allianz Asset Management GmbH purchased a new position in shares of Xeris Biopharma during the 2nd quarter worth approximately $314,000. Corient Private Wealth LP purchased a new stake in Xeris Biopharma in the 2nd quarter valued at approximately $1,458,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Xeris Biopharma in the 2nd quarter valued at approximately $89,000. California State Teachers Retirement System grew its holdings in Xeris Biopharma by 720.4% during the 2nd quarter. California State Teachers Retirement System now owns 1,479,456 shares of the company’s stock valued at $11,717,000 after buying an additional 1,299,117 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Xeris Biopharma by 2.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 687,632 shares of the company’s stock valued at $5,446,000 after buying an additional 19,558 shares during the last quarter. Hedge funds and other institutional investors own 42.75% of the company’s stock.

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.