Xeris Biopharma (NASDAQ:XERS) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Xeris Biopharma (NASDAQ:XERSGet Rating) from a sell rating to a hold rating in a report published on Thursday, Zacks.com reports.

According to Zacks, “Xeris Biopharma Holdings is a biopharmaceutical company. It involved in developing and commercializing therapies for patient in endocrinology, neurology and gastroenterology. The company’s principal product includes Gvoke(R), a ready-to-use liquid glucagon for the treatment of severe hypoglycemia and Keveyis(R), the first and only FDA-approved therapy for primary periodic paralysis. Xeris Biopharma Holdings, formerly known as Xeris Pharmaceuticals Inc., is headquartered in Chicago, IL. “

XERS has been the subject of a number of other research reports. HC Wainwright reissued a buy rating and set a $6.00 target price (down previously from $8.00) on shares of Xeris Biopharma in a research report on Friday, March 11th. Mizuho decreased their target price on shares of Xeris Biopharma from $8.00 to $6.00 and set a buy rating for the company in a research report on Wednesday, March 16th. Craig Hallum assumed coverage on shares of Xeris Biopharma in a research report on Thursday, April 28th. They set a buy rating and a $6.50 target price for the company. Finally, SVB Leerink reduced their price objective on shares of Xeris Biopharma from $8.00 to $6.00 and set an outperform rating for the company in a research report on Wednesday, February 16th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Buy and an average target price of $6.13.

NASDAQ:XERS opened at $2.20 on Thursday. The firm’s fifty day simple moving average is $2.44 and its 200 day simple moving average is $2.34. Xeris Biopharma has a twelve month low of $1.25 and a twelve month high of $4.98. The company has a debt-to-equity ratio of 1.43, a quick ratio of 2.42 and a current ratio of 2.67.

Xeris Biopharma (NASDAQ:XERSGet Rating) last released its earnings results on Thursday, March 10th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.21). The firm had revenue of $21.43 million for the quarter, compared to analyst estimates of $20.72 million. Xeris Biopharma had a negative net margin of 217.81% and a negative return on equity of 258.57%. During the same period in the prior year, the company posted ($0.41) EPS. Sell-side analysts anticipate that Xeris Biopharma will post -0.8 earnings per share for the current year.

In other Xeris Biopharma news, insider Paul R. Edick purchased 100,000 shares of Xeris Biopharma stock in a transaction that occurred on Thursday, May 12th. The stock was acquired at an average price of $1.40 per share, with a total value of $140,000.00. Following the transaction, the insider now owns 1,508,064 shares in the company, valued at approximately $2,111,289.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven Prestrelski sold 11,228 shares of Xeris Biopharma stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $2.42, for a total transaction of $27,171.76. The disclosure for this sale can be found here. Company insiders own 4.01% of the company’s stock.

Large investors have recently modified their holdings of the business. Rafferty Asset Management LLC bought a new position in Xeris Biopharma during the 3rd quarter valued at $71,000. AE Wealth Management LLC raised its stake in shares of Xeris Biopharma by 29.5% during the 4th quarter. AE Wealth Management LLC now owns 59,666 shares of the company’s stock worth $175,000 after purchasing an additional 13,588 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of Xeris Biopharma during the 4th quarter worth $143,000. Ieq Capital LLC bought a new stake in shares of Xeris Biopharma during the 4th quarter worth $147,000. Finally, Barclays PLC raised its stake in shares of Xeris Biopharma by 476.6% during the 3rd quarter. Barclays PLC now owns 29,541 shares of the company’s stock worth $72,000 after purchasing an additional 24,418 shares during the period. Institutional investors and hedge funds own 18.72% of the company’s stock.

About Xeris Biopharma (Get Rating)

Xeris Biopharma Holdings, Inc, a biopharmaceutical company, engages in developing and commercializing therapies for patient populations in endocrinology, neurology, and gastroenterology. The company markets Gvoke, a ready-to-use liquid glucagon for the treatment of severe hypoglycemia; and Keveyis, a therapy for the treatment of hyperkalemic, hypokalemic, and related variants of primary periodic paralysis; and Recorlev, a cortisol synthesis inhibitor proved for the treatment of endogenous hypercortisolemia in adult patients with Cushing's syndrome.

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