Xeris Pharmaceuticals Inc (XERS) to Post Q3 2018 Earnings of ($0.97) Per Share, Jefferies Financial Group Forecasts

Xeris Pharmaceuticals Inc (NASDAQ:XERS) – Analysts at Jefferies Financial Group reduced their Q3 2018 earnings estimates for shares of Xeris Pharmaceuticals in a research report issued to clients and investors on Tuesday, August 14th. Jefferies Financial Group analyst D. Steinberg now forecasts that the company will post earnings of ($0.97) per share for the quarter, down from their previous estimate of ($0.90). Jefferies Financial Group currently has a “Buy” rating and a $23.00 target price on the stock. Jefferies Financial Group also issued estimates for Xeris Pharmaceuticals’ Q4 2018 earnings at ($1.19) EPS and FY2018 earnings at ($5.80) EPS.

A number of other equities research analysts have also recently commented on XERS. Mizuho assumed coverage on Xeris Pharmaceuticals in a report on Monday, July 16th. They set a “buy” rating on the stock. Royal Bank of Canada assumed coverage on Xeris Pharmaceuticals in a report on Monday, July 16th. They set an “outperform” rating and a $24.00 price target on the stock. Finally, Leerink Swann assumed coverage on Xeris Pharmaceuticals in a report on Monday, July 16th. They set an “outperform” rating and a $24.00 price target on the stock.

NASDAQ XERS opened at $23.59 on Thursday. Xeris Pharmaceuticals has a fifty-two week low of $15.75 and a fifty-two week high of $26.45.

Xeris Pharmaceuticals (NASDAQ:XERS) last released its earnings results on Monday, August 13th. The company reported ($3.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.88) by ($2.19). The company had revenue of $0.82 million during the quarter, compared to the consensus estimate of $0.30 million.

In other Xeris Pharmaceuticals news, major shareholder Palmetto Partners, Ltd. purchased 150,000 shares of the firm’s stock in a transaction on Monday, June 25th. The shares were acquired at an average cost of $15.00 per share, with a total value of $2,250,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James E. Flynn purchased 750,000 shares of the firm’s stock in a transaction on Monday, June 25th. The shares were acquired at an average cost of $15.00 per share, for a total transaction of $11,250,000.00. The disclosure for this purchase can be found here.

Hedge funds have recently modified their holdings of the company. Dean Capital Investments Management LLC bought a new stake in shares of Xeris Pharmaceuticals in the second quarter worth about $563,000. BlackRock Inc. bought a new stake in shares of Xeris Pharmaceuticals in the second quarter worth about $475,000. Citadel Advisors LLC bought a new stake in shares of Xeris Pharmaceuticals in the second quarter worth about $214,000. Redmile Group LLC bought a new stake in shares of Xeris Pharmaceuticals in the second quarter worth about $45,792,000. Finally, OppenheimerFunds Inc. bought a new stake in shares of Xeris Pharmaceuticals in the second quarter worth about $18,980,000. 0.17% of the stock is currently owned by hedge funds and other institutional investors.

About Xeris Pharmaceuticals

Xeris Pharmaceuticals, Inc, a specialty pharmaceutical company, develops and commercializes ready-to-use injectable and infusible drug formulations. Its proprietary XeriSol and XeriJect formulation technologies allow for the subcutaneous and intramuscular delivery of highly-concentrated, ready-to-use formulations of peptides, proteins, antibodies, and small molecules using commercially available syringes, auto-injectors, multi-dose pens, and infusion pumps.

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