Xeris Pharmaceuticals Inc (NASDAQ:XERS) Sees Significant Increase in Short Interest

Xeris Pharmaceuticals Inc (NASDAQ:XERS) saw a significant increase in short interest in the month of March. As of March 29th, there was short interest totalling 1,294,780 shares, an increase of 38.7% from the March 15th total of 933,515 shares. Based on an average daily trading volume, of 276,154 shares, the days-to-cover ratio is currently 4.7 days. Currently, 5.7% of the company’s shares are short sold.

Separately, Zacks Investment Research downgraded Xeris Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, January 12th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $23.60.

XERS stock traded up $0.35 during midday trading on Friday, hitting $10.63. 77,737 shares of the company traded hands, compared to its average volume of 97,442. The company has a market cap of $286.34 million and a PE ratio of -2.13. The company has a quick ratio of 11.59, a current ratio of 11.59 and a debt-to-equity ratio of 0.42. Xeris Pharmaceuticals has a twelve month low of $8.67 and a twelve month high of $27.98.

Xeris Pharmaceuticals (NASDAQ:XERS) last announced its quarterly earnings data on Wednesday, March 6th. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.94) by ($0.04). The firm had revenue of $0.80 million for the quarter, compared to analyst estimates of $0.10 million. As a group, equities 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 Xeris Pharmaceuticals stock in a transaction dated Monday, March 11th. The stock was acquired at an average cost of $9.12 per share, with a total value of $273,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider James E. Flynn sold 14,807 shares of the firm’s stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $15.02, for a total transaction of $222,401.14. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 620,500 shares of company stock valued at $6,178,600 and sold 32,048 shares valued at $427,268. Company insiders own 7.43% of the company’s stock.

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 stake in shares of Xeris Pharmaceuticals by 1,477.7% in the third quarter. BlackRock Inc. now owns 394,416 shares of the company’s stock worth $6,933,000 after acquiring an additional 369,416 shares during the last quarter. Vanguard Group Inc grew its stake in shares of Xeris Pharmaceuticals by 920.3% in the third quarter. Vanguard Group Inc now owns 255,064 shares of the company’s stock worth $4,484,000 after acquiring an additional 230,064 shares during the last quarter. Vanguard Group Inc. boosted its stake in Xeris Pharmaceuticals by 920.3% during the third quarter. Vanguard Group Inc. now owns 255,064 shares of the company’s stock worth $4,484,000 after buying an additional 230,064 shares in the last quarter. Finally, Rhumbline Advisers acquired a new stake in Xeris Pharmaceuticals during the first quarter worth $232,000. Institutional investors and hedge funds own 40.09% of the company’s stock.

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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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