Xeris Pharmaceuticals (XERS) Hits New 52-Week High at $27.51

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Xeris Pharmaceuticals Inc (NASDAQ:XERS)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $27.51 and last traded at $25.99, with a volume of 500 shares trading hands. The stock had previously closed at $26.00.

XERS has been the topic of several research reports. Royal Bank of Canada initiated coverage on Xeris Pharmaceuticals in a research note on Monday, July 16th. They set an “outperform” rating and a $24.00 price target on the stock. Jefferies Financial Group initiated coverage on Xeris Pharmaceuticals in a research note on Monday, July 16th. They set a “buy” rating and a $23.00 price target on the stock. Leerink Swann initiated coverage on Xeris Pharmaceuticals in a research note on Monday, July 16th. They set an “outperform” rating and a $24.00 price target on the stock. Finally, Mizuho initiated coverage on Xeris Pharmaceuticals in a research note on Monday, July 16th. They set a “buy” rating on the stock.

Xeris Pharmaceuticals (NASDAQ:XERS) last announced its quarterly earnings results on Monday, August 13th. The company reported ($3.07) EPS for the quarter, missing the consensus estimate of ($0.88) by ($2.19). The firm had revenue of $0.82 million during the quarter, compared to analysts’ expectations of $0.30 million. equities research analysts forecast that Xeris Pharmaceuticals Inc will post -8.36 earnings per share for the current fiscal year.

In related news, insider James E. Flynn acquired 750,000 shares of the company’s stock in a transaction that occurred on Monday, June 25th. The shares were bought at an average price of $15.00 per share, with a total value of $11,250,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Palmetto Partners, Ltd. acquired 150,000 shares of the company’s stock in a transaction that occurred on Monday, June 25th. The shares were bought at an average cost of $15.00 per share, for a total transaction of $2,250,000.00. The disclosure for this purchase can be found here.

Hedge funds have recently modified their holdings of the stock. Citadel Advisors LLC bought a new stake in Xeris Pharmaceuticals during the second quarter valued at about $214,000. BlackRock Inc. bought a new stake in Xeris Pharmaceuticals during the second quarter valued at about $475,000. Dean Capital Investments Management LLC bought a new stake in Xeris Pharmaceuticals during the second quarter valued at about $563,000. Millennium Management LLC bought a new stake in Xeris Pharmaceuticals during the second quarter valued at about $1,898,000. Finally, Granahan Investment Management Inc. MA bought a new stake in Xeris Pharmaceuticals during the second quarter valued at about $2,481,000. 45.89% of the stock is currently owned by institutional investors.

About Xeris Pharmaceuticals (NASDAQ:XERS)

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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