Xeris Pharmaceuticals (NASDAQ:XERS) Rating Increased to Buy at Zacks Investment Research

Xeris Pharmaceuticals (NASDAQ:XERS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday, Zacks.com reports. The firm presently has a $6.00 price objective on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 139.04% from the company’s previous close.

According to Zacks, “Xeris Pharmaceuticals, Inc. produces peptides, proteins, antibodies, molecules, auto-injectors, multi-dose pens and infusion pumps to treat endocrine and metabolic diseases. The company’s proprietary formulation technologies consist of XeriSol (TM) and XeriJect(TM). Xeris Pharmaceuticals, Inc. is based in Chicago, United States. “

A number of other brokerages have also recently issued reports on XERS. Mizuho reaffirmed a “buy” rating and issued a $14.00 target price on shares of Xeris Pharmaceuticals in a report on Tuesday, May 26th. ValuEngine raised shares of Xeris Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 30th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Xeris Pharmaceuticals has an average rating of “Buy” and a consensus price target of $12.50.

NASDAQ:XERS traded down $0.21 on Friday, hitting $2.51. 8,525,173 shares of the company’s stock were exchanged, compared to its average volume of 1,094,664. The firm has a 50-day moving average price of $4.64 and a 200-day moving average price of $4.49. The company has a debt-to-equity ratio of 2.16, a current ratio of 4.82 and a quick ratio of 4.72. Xeris Pharmaceuticals has a 52 week low of $1.42 and a 52 week high of $12.94. The company has a market cap of $102.24 million, a P/E ratio of -0.54 and a beta of 2.12.

Xeris Pharmaceuticals (NASDAQ:XERS) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($0.92) by $0.03. Xeris Pharmaceuticals had a negative net margin of 3,100.00% and a negative return on equity of 323.82%. The firm had revenue of $1.68 million for the quarter, compared to analysts’ expectations of $1.82 million. On average, research analysts expect that Xeris Pharmaceuticals will post -3.06 earnings per share for the current fiscal year.

In related news, insider John Patrick Shannon, Jr. purchased 22,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average price of $3.55 per share, for a total transaction of $78,100.00. Following the purchase, the insider now owns 117,493 shares in the company, valued at $417,100.15. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul R. Edick purchased 33,000 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was bought at an average price of $3.54 per share, for a total transaction of $116,820.00. Following the purchase, the insider now owns 95,493 shares in the company, valued at approximately $338,045.22. The disclosure for this purchase can be found here. 7.43% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC grew its stake in Xeris Pharmaceuticals by 29.9% in the 1st quarter. FMR LLC now owns 2,963,018 shares of the company’s stock valued at $29,749,000 after buying an additional 682,050 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its stake in Xeris Pharmaceuticals by 21.4% in the 1st quarter. ArrowMark Colorado Holdings LLC now owns 2,341,902 shares of the company’s stock valued at $4,567,000 after buying an additional 413,594 shares during the last quarter. BlackRock Inc. grew its stake in Xeris Pharmaceuticals by 6.4% in the 1st quarter. BlackRock Inc. now owns 2,336,418 shares of the company’s stock valued at $4,555,000 after buying an additional 139,671 shares during the last quarter. Citigroup Inc. grew its stake in Xeris Pharmaceuticals by 66,662.9% in the 4th quarter. Citigroup Inc. now owns 2,201,839 shares of the company’s stock valued at $15,523,000 after buying an additional 2,198,541 shares during the last quarter. Finally, State Street Corp grew its stake in Xeris Pharmaceuticals by 8.3% in the 1st quarter. State Street Corp now owns 542,031 shares of the company’s stock valued at $1,057,000 after buying an additional 41,630 shares during the last quarter. Institutional investors and hedge funds own 62.48% of the company’s stock.

Xeris Pharmaceuticals Company Profile

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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