Leerink Swann Research Analysts Lift Earnings Estimates for Xeris Pharmaceuticals Inc (NASDAQ:XERS)

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Xeris Pharmaceuticals Inc (NASDAQ:XERS) – Stock analysts at Leerink Swann boosted their Q3 2018 earnings per share estimates for shares of Xeris Pharmaceuticals in a research note issued to investors on Monday, October 15th, according to Zacks Investment Research. Leerink Swann analyst A. Fadia now forecasts that the company will post earnings per share of ($0.71) for the quarter, up from their prior forecast of ($1.59). Leerink Swann has a “Outperform” rating and a $24.00 price objective on the stock. Leerink Swann also issued estimates for Xeris Pharmaceuticals’ Q4 2018 earnings at ($0.70) EPS, FY2018 earnings at ($9.17) EPS, FY2019 earnings at ($3.23) EPS, FY2020 earnings at ($2.25) EPS and FY2021 earnings at ($0.84) EPS.

Xeris Pharmaceuticals (NASDAQ:XERS) last announced its earnings results on Wednesday, November 7th. The company reported ($0.71) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.78) by $0.07. The company had revenue of $0.58 million for the quarter, compared to analyst estimates of $0.30 million.

Several other research analysts also recently commented on XERS. Royal Bank of Canada initiated coverage on Xeris Pharmaceuticals in a report on Monday, July 16th. They set an “outperform” rating and a $24.00 target price on the stock. Jefferies Financial Group started coverage on Xeris Pharmaceuticals in a report on Monday, July 16th. They set a “buy” rating and a $23.00 target price on the stock. Mizuho started coverage on Xeris Pharmaceuticals in a research note on Monday, July 16th. They issued a “buy” rating on the stock. Finally, Zacks Investment Research downgraded Xeris Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, September 18th. Five research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus price target of $22.75.

XERS traded down $1.79 during midday trading on Wednesday, hitting $23.21. 59,783 shares of the company were exchanged, compared to its average volume of 73,823. Xeris Pharmaceuticals has a 1-year low of $15.75 and a 1-year high of $27.98.

Several large investors have recently made changes to their positions in XERS. Redmile Group LLC acquired a new position in shares of Xeris Pharmaceuticals in the 2nd quarter valued at about $45,792,000. FMR LLC lifted its stake in shares of Xeris Pharmaceuticals by 128.6% in the 3rd quarter. FMR LLC now owns 1,833,031 shares of the company’s stock valued at $32,225,000 after purchasing an additional 1,031,231 shares during the period. OppenheimerFunds Inc. acquired a new position in shares of Xeris Pharmaceuticals in the 2nd quarter valued at about $18,980,000. BlackRock Inc. lifted its stake in shares of Xeris Pharmaceuticals by 1,477.7% in the 3rd quarter. BlackRock Inc. now owns 394,416 shares of the company’s stock valued at $6,933,000 after purchasing an additional 369,416 shares during the period. Finally, Federated Investors Inc. PA acquired a new position in shares of Xeris Pharmaceuticals in the 2nd quarter valued at about $5,694,000. 45.90% of the stock is currently owned by institutional investors.

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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