State Street Corp lifted its stake in shares of Xeris Pharmaceuticals Inc (NASDAQ:XERS) by 8.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 542,031 shares of the company’s stock after acquiring an additional 41,630 shares during the quarter. State Street Corp owned approximately 1.44% of Xeris Pharmaceuticals worth $1,057,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Marshall Wace North America L.P. bought a new position in shares of Xeris Pharmaceuticals during the first quarter valued at approximately $71,000. Tower Research Capital LLC TRC boosted its stake in shares of Xeris Pharmaceuticals by 1,381.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,793 shares of the company’s stock valued at $55,000 after purchasing an additional 7,267 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Xeris Pharmaceuticals during the first quarter valued at approximately $26,000. American International Group Inc. boosted its stake in shares of Xeris Pharmaceuticals by 26.3% during the first quarter. American International Group Inc. now owns 21,090 shares of the company’s stock valued at $41,000 after purchasing an additional 4,394 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Xeris Pharmaceuticals during the first quarter valued at approximately $245,000. 62.48% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Paul R. Edick acquired 33,000 shares of the stock in a transaction dated Friday, May 8th. The stock was acquired at an average cost of $3.54 per share, for a total transaction of $116,820.00. Following the completion of the purchase, the insider now owns 95,493 shares of the company’s stock, valued at approximately $338,045.22. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider John Patrick Shannon, Jr. acquired 22,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were bought at an average price of $3.55 per share, with a total value of $78,100.00. Following the completion of the purchase, the insider now directly owns 117,493 shares of the company’s stock, valued at approximately $417,100.15. The disclosure for this purchase can be found here. Insiders own 5.95% of the company’s stock.
Shares of XERS opened at $2.66 on Wednesday. The company has a market cap of $94.35 million, a price-to-earnings ratio of -0.58 and a beta of 2.10. Xeris Pharmaceuticals Inc has a twelve month low of $1.42 and a twelve month high of $12.94. The company has a quick ratio of 4.72, a current ratio of 4.82 and a debt-to-equity ratio of 2.16. The company has a 50 day moving average of $4.59 and a two-hundred day moving average of $4.36.
Xeris Pharmaceuticals (NASDAQ:XERS) last announced its earnings results on Thursday, May 7th. The company reported ($0.89) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.92) by $0.03. The company had revenue of $1.68 million during the quarter, compared to the consensus estimate of $1.82 million. Xeris Pharmaceuticals had a negative net margin of 3,100.00% and a negative return on equity of 323.82%. On average, sell-side analysts expect that Xeris Pharmaceuticals Inc will post -3.06 EPS for the current year.
A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada reiterated a “market perform” rating and set a $15.00 price objective on shares of Xeris Pharmaceuticals in a research note on Tuesday. Mizuho reiterated a “buy” rating and set a $14.00 price objective on shares of Xeris Pharmaceuticals in a research note on Tuesday, May 26th. ValuEngine upgraded shares of Xeris Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 30th. SVB Leerink restated a “market perform” rating and issued a $10.00 target price on shares of Xeris Pharmaceuticals in a research note on Tuesday. Finally, Zacks Investment Research upgraded shares of Xeris Pharmaceuticals from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research note on Saturday. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Xeris Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $11.40.
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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