Xeris Biopharma’s (XERS) “Outperform” Rating Reaffirmed at Oppenheimer

Xeris Biopharma (NASDAQ:XERS)‘s stock had its “outperform” rating reissued by stock analysts at Oppenheimer in a research report issued on Friday, Benzinga reports. They presently have a $21.00 target price on the stock, up from their prior target price of $18.00. Oppenheimer‘s target price would suggest a potential upside of 45.95% from the company’s current price.

A number of other analysts have also recently weighed in on XERS. Weiss Ratings cut shares of Xeris Biopharma from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded shares of Xeris Biopharma from a “hold” rating to a “buy” rating in a research note on Saturday, September 19th. Piper Sandler reaffirmed a “neutral” rating and set a $12.00 price objective (up from $8.00) on shares of Xeris Biopharma in a report on Friday. Barclays upped their price objective on Xeris Biopharma from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, October 6th. Finally, Leerink Partners upped their price target on Xeris Biopharma from $12.00 to $16.00 and gave the company an “outperform” rating in a research report on Thursday, September 10th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.20.

Xeris Biopharma Stock Performance

Shares of NASDAQ XERS traded up $1.31 during trading hours on Friday, reaching $14.39. The stock had a trading volume of 3,518,505 shares, compared to its average volume of 2,083,847. The business’s fifty day moving average is $9.49 and its two-hundred day moving average is $7.58. The company has a debt-to-equity ratio of 17.00, a current ratio of 1.45 and a quick ratio of 1.02. The company has a market cap of $2.62 billion, a price-to-earnings ratio of -131.25 and a beta of 0.61. Xeris Biopharma has a twelve month low of $5.25 and a twelve month high of $14.64.

Xeris Biopharma (NASDAQ:XERS) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. Xeris Biopharma had a negative net margin of 5.12% and a positive return on equity of 338.21%. The firm had revenue of $107.23 million for the quarter, compared to the consensus estimate of $101.68 million. As a group, research analysts expect that Xeris Biopharma will post 0.07 EPS for the current year.

Insider Transactions 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 sale, the insider directly owned 1,086,130 shares in the company, valued at $11,111,109.90. This represents a 2.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin McCulloch sold 25,000 shares of the firm’s stock in a transaction on Monday, September 28th. The shares were sold at an average price of $10.00, for a total value of $250,000.00. Following the sale, the insider directly owned 1,614,208 shares of the company’s stock, valued at $16,142,080. This represents a 1.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 148,332 shares of company stock valued at $1,409,221 in the last three months. 4.35% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in XERS. BlackRock Inc. acquired a new position in Xeris Biopharma during the second quarter valued at approximately $115,042,000. Wellington Management Group LLP raised its holdings in Xeris Biopharma by 8.9% in the second quarter. Wellington Management Group LLP now owns 2,365,103 shares of the company’s stock worth $18,732,000 after purchasing an additional 193,749 shares during the period. Legal & General Group Plc acquired a new stake in Xeris Biopharma in the second quarter worth $15,941,000. Parkman Healthcare Partners LLC bought a new position in shares of Xeris Biopharma during the second quarter worth $14,316,000. Finally, Algert Global LLC boosted its position in shares of Xeris Biopharma by 50.6% during the second quarter. Algert Global LLC now owns 1,742,942 shares of the company’s stock worth $13,804,000 after purchasing an additional 585,984 shares in the last quarter. 42.75% of the stock is owned by institutional investors.

Xeris Biopharma News Summary

Here are the key news stories impacting Xeris Biopharma this week:

• Positive Sentiment: Q3 results topped estimates: Xeris reported earnings of $0.06 per share versus consensus of $0.03, and revenue of $107.23 million versus expectations of $101.68 million. The earnings growth and revenue beat helped fuel the stock’s advance. Xeris Biopharma Shares Jump After Q3 Results Top Estimates
• Positive Sentiment: Stronger outlook for Recorlev: CEO John Shannon said the drug could reach $1 billion in annual sales three to four years earlier than previously expected, raising expectations for future growth. The company also updated its FY2030 earnings guidance. Xeris CEO sees Recorlev nearing $1B in annual sales
• Positive Sentiment: HC Wainwright turned more bullish: The firm raised its price target to $18 from $10 and assigned XERS a “buy” rating, implying further upside at the time of its report.
• Neutral Sentiment: Analyst views are mixed: Piper Sandler kept its “neutral” rating while raising its target to $12 from $8. That target is below the recent share price, tempering the more optimistic outlook from HC Wainwright.
• Negative Sentiment: Insider sales: Several insiders sold shares under pre-arranged Rule 10b5-1 plans. The sales were small relative to their remaining holdings and were scheduled in advance, so they may be a limited concern rather than a clear signal about the business.

Xeris Biopharma Company Profile

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.