Steven Prestrelski Sells 27,700 Shares of Xeris Pharmaceuticals Inc (NASDAQ:XERS) Stock

Xeris Pharmaceuticals Inc (NASDAQ:XERS) insider Steven Prestrelski sold 27,700 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $9.00, for a total value of $249,300.00.

Shares of XERS traded up $0.51 during trading hours on Thursday, reaching $9.00. 120,800 shares of the company’s stock traded hands, compared to its average volume of 209,008. The stock has a market cap of $207.80 million, a PE ratio of -1.79 and a beta of -0.44. The company has a current ratio of 6.00, a quick ratio of 6.00 and a debt-to-equity ratio of 0.39. The firm’s 50 day simple moving average is $9.83 and its 200-day simple moving average is $10.65. Xeris Pharmaceuticals Inc has a 12 month low of $6.85 and a 12 month high of $25.49.

Xeris Pharmaceuticals (NASDAQ:XERS) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.94) by ($0.34). The business had revenue of $0.31 million for the quarter, compared to the consensus estimate of $0.20 million. Xeris Pharmaceuticals had a negative net margin of 4,876.50% and a negative return on equity of 107.65%. As a group, analysts expect that Xeris Pharmaceuticals Inc will post -4.74 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Marshall Wace LLP bought a new stake in Xeris Pharmaceuticals during the first quarter worth about $245,000. Marshall Wace North America L.P. bought a new stake in Xeris Pharmaceuticals during the first quarter worth about $71,000. FMR LLC lifted its position in Xeris Pharmaceuticals by 29.9% during the first quarter. FMR LLC now owns 2,963,018 shares of the company’s stock worth $29,749,000 after purchasing an additional 682,050 shares during the period. Wells Fargo & Company MN lifted its position in Xeris Pharmaceuticals by 241.5% during the second quarter. Wells Fargo & Company MN now owns 41,973 shares of the company’s stock worth $480,000 after purchasing an additional 29,682 shares during the period. Finally, Bank of Montreal Can bought a new stake in Xeris Pharmaceuticals during the second quarter worth about $26,000. Hedge funds and other institutional investors own 62.44% of the company’s stock.

XERS has been the subject of several analyst reports. Mizuho restated a “buy” rating and issued a $27.00 target price on shares of Xeris Pharmaceuticals in a research note on Tuesday, September 10th. ValuEngine downgraded Xeris Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Royal Bank of Canada set a $18.00 target price on Xeris Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, August 7th.

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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