Short Interest in Xeris Pharmaceuticals Inc (XERS) Drops By 35.1%

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Xeris Pharmaceuticals Inc (NASDAQ:XERS) saw a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 612,623 shares, a drop of 35.1% from the February 15th total of 944,572 shares. Based on an average daily volume of 425,759 shares, the short-interest ratio is presently 1.4 days. Approximately 2.7% of the shares of the company are short sold.

XERS opened at $9.73 on Friday. The company has a market capitalization of $259.66 million and a price-to-earnings ratio of -1.95. The company has a current ratio of 11.59, a quick ratio of 11.59 and a debt-to-equity ratio of 0.42. Xeris Pharmaceuticals has a 12-month low of $8.67 and a 12-month high of $27.98.

Xeris Pharmaceuticals (NASDAQ:XERS) last released its earnings results on Wednesday, March 6th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.94) by ($0.04). The business had revenue of $0.80 million during the quarter, compared to analysts’ expectations of $0.10 million. Research analysts expect that Xeris Pharmaceuticals will post -3.28 EPS for the current fiscal year.

In related news, insider Paul R. Edick purchased 30,000 shares of the stock in a transaction on Monday, March 11th. The shares were bought at an average price of $9.12 per share, for a total transaction of $273,600.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven Prestrelski sold 15,720 shares of the firm’s stock in a transaction on Wednesday, December 26th. The shares were sold at an average price of $15.82, for a total transaction of $248,690.40. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 620,500 shares of company stock worth $6,178,600 and have sold 159,250 shares worth $2,452,644.

Several institutional investors have recently made changes to their positions in XERS. FMR LLC grew its stake in shares of Xeris Pharmaceuticals by 128.6% in the third quarter. FMR LLC now owns 1,833,031 shares of the company’s stock worth $32,225,000 after acquiring an additional 1,031,231 shares during the last quarter. BlackRock Inc. grew its position in Xeris Pharmaceuticals by 1,477.7% in the 3rd quarter. BlackRock Inc. now owns 394,416 shares of the company’s stock worth $6,933,000 after purchasing an additional 369,416 shares during the last quarter. Vanguard Group Inc grew its position in Xeris Pharmaceuticals by 920.3% in the 3rd quarter. Vanguard Group Inc now owns 255,064 shares of the company’s stock worth $4,484,000 after purchasing an additional 230,064 shares during the last quarter. Vanguard Group Inc. grew its position in Xeris Pharmaceuticals by 920.3% in the 3rd quarter. Vanguard Group Inc. now owns 255,064 shares of the company’s stock worth $4,484,000 after purchasing an additional 230,064 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Xeris Pharmaceuticals by 23.0% in the 4th quarter. Geode Capital Management LLC now owns 82,692 shares of the company’s stock worth $1,405,000 after purchasing an additional 15,459 shares during the last quarter. Institutional investors and hedge funds own 51.68% of the company’s stock.

A number of research firms recently issued reports on XERS. Mizuho reiterated a “buy” rating and issued a $27.00 target price on shares of Xeris Pharmaceuticals in a research note on Tuesday, December 4th. Zacks Investment Research lowered shares of Xeris Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, January 12th. Finally, ValuEngine downgraded Xeris Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, December 18th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $23.60.

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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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