Xeris Biopharma (NASDAQ:XERS) Reaches New 12-Month High Following Better-Than-Expected Earnings

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) hit a new 52-week high during trading on Thursday following a stronger than expected earnings report. The company traded as high as $12.11 and last traded at $12.8150, with a volume of 122,067 shares traded. The stock had previously closed at $10.46.

The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. The company had revenue of $107.23 million for the quarter, compared to analyst estimates of $101.68 million. Xeris Biopharma had a positive return on equity of 338.21% and a negative net margin of 5.12%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Leerink Partners upped their price objective on Xeris Biopharma from $12.00 to $16.00 and gave the stock an “outperform” rating in a research note on Thursday, September 10th. Wall Street Zen raised shares of Xeris Biopharma from a “hold” rating to a “buy” rating in a research note on Saturday, September 19th. Barclays upped their price target on Xeris Biopharma from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 6th. Finally, Weiss Ratings downgraded Xeris Biopharma from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $13.20.

Insider Activity at Xeris Biopharma

In related news, insider Beth Hecht sold 25,000 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $10.23, for a total transaction of $255,750.00. Following the completion of the sale, the insider owned 1,086,130 shares in the company, valued at $11,111,109.90. This represents a 2.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin McCulloch sold 15,000 shares of the stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $10.23, for a total transaction of $153,450.00. Following the sale, the insider owned 1,584,208 shares of the company’s stock, valued at $16,206,447.84. This trade represents a 0.94% decrease in their position. 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 90 days, insiders sold 148,332 shares of company stock valued at $1,409,221. Insiders own 4.35% of the company’s stock.

Hedge Funds Weigh In On Xeris Biopharma

Several hedge funds have recently bought and sold shares of XERS. GK Wealth Management LLC bought a new position in shares of Xeris Biopharma in the 3rd quarter valued at $32,000. Allworth Financial LP purchased a new position in Xeris Biopharma in the 2nd quarter valued at approximately $34,000. KBC Group NV bought a new stake in Xeris Biopharma during the 1st quarter worth approximately $27,000. William Mack & Associates Inc. purchased a new position in Xeris Biopharma in the third quarter worth $53,000. Finally, Sterling Capital Management LLC raised its position in Xeris Biopharma by 848.0% in the 3rd quarter. Sterling Capital Management LLC now owns 5,707 shares of the company’s stock worth $55,000 after purchasing an additional 5,105 shares during the period. 42.75% of the stock is owned by institutional investors.

Xeris Biopharma Price Performance

The company has a quick ratio of 1.02, a current ratio of 1.45 and a debt-to-equity ratio of 17.00. The stock has a market cap of $2.47 billion, a P/E ratio of -120.00 and a beta of 0.61. The firm’s fifty day moving average price is $9.40 and its 200-day moving average price is $7.55.

About Xeris Biopharma

Xeris Biopharma, Inc is a specialty pharmaceutical company focused on developing and commercializing therapies for patients with endocrinology, gastroenterology and other serious or chronic conditions. The company uses proprietary formulation and delivery technologies designed to make complex therapies more stable, convenient and suitable for self-administration.

Xeris’ commercial portfolio includes Gvoke, a ready-to-use glucagon injection for the treatment of severe hypoglycemia in adults and children with diabetes; Recorlev (levoketoconazole), an oral therapy for endogenous hypercortisolemia associated with endogenous Cushing’s syndrome; and Keveyis (dichlorphenamide), a treatment for primary periodic paralysis.