Xeris Biopharma (NASDAQ:XERS) Shares Up 5.6% – Here’s What Happened

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) was up 5.6% on Tuesday . The stock traded as high as $7.24 and last traded at $7.2850. 558,454 shares traded hands during trading, a decline of 69% from the average session volume of 1,822,623 shares. The stock had previously closed at $6.90.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Weiss Ratings cut Xeris Biopharma from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Wall Street Zen raised Xeris Biopharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 7th. Finally, HC Wainwright restated a “buy” rating and set a $10.00 price target on shares of Xeris Biopharma in a report on Monday, March 2nd. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $10.80.

Xeris Biopharma Trading Up 2.8%

The company has a market cap of $1.28 billion, a price-to-earnings ratio of 123.33 and a beta of 0.78. The business’s fifty day moving average price is $6.36 and its 200 day moving average price is $6.58. The company has a debt-to-equity ratio of 17.00, a current ratio of 2.12 and a quick ratio of 1.50.

Xeris Biopharma (NASDAQ:XERS) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $83.13 million for the quarter, compared to analysts’ expectations of $79.83 million. Xeris Biopharma had a net margin of 3.81% and a return on equity of 735.00%. Research analysts anticipate that Xeris Biopharma Holdings, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Activity at Xeris Biopharma

In related news, Director Dawn Halkuff sold 20,000 shares of Xeris Biopharma stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $6.09, for a total value of $121,800.00. Following the transaction, the director directly owned 95,000 shares of the company’s stock, valued at $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 available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John Johnson sold 15,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $6.09, for a total transaction of $91,350.00. Following the sale, the director directly owned 683,083 shares of the company’s stock, valued at $4,159,975.47. This represents a 2.15% 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. Insiders sold 127,335 shares of company stock valued at $766,733 over the last ninety days. Insiders own 4.35% of the company’s stock.

Hedge Funds Weigh In On Xeris Biopharma

Several institutional investors have recently added to or reduced their stakes in XERS. Royal Bank of Canada boosted its holdings in shares of Xeris Biopharma by 1,411.2% during the 1st quarter. Royal Bank of Canada now owns 213,084 shares of the company’s stock worth $1,170,000 after buying an additional 198,984 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Xeris Biopharma by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,982 shares of the company’s stock valued at $461,000 after acquiring an additional 3,594 shares in the last quarter. Millennium Management LLC lifted its position in shares of Xeris Biopharma by 19.0% during the 1st quarter. Millennium Management LLC now owns 2,317,972 shares of the company’s stock valued at $12,726,000 after acquiring an additional 369,420 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Xeris Biopharma by 75.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,790,014 shares of the company’s stock valued at $15,317,000 after acquiring an additional 1,199,435 shares during the period. Finally, Caxton Associates LLP bought a new position in Xeris Biopharma during the first quarter worth $170,000. 42.75% of the stock is owned by institutional investors and hedge funds.

About Xeris Biopharma

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.