In a recent transaction, John P. Schmid, a director at Xeris Biopharma Holdings, Inc. (NASDAQ:XERS), purchased shares of the company's stock, signaling confidence in the pharmaceutical firm. The transaction, which took place on August 12, involved the acquisition of 4,515 shares at a price of $2.2474 per share, amounting to a total investment of approximately $10,147.
The purchase by Schmid is notable as it reflects a direct investment in the company, increasing his total holdings to 25,200 shares through indirect ownership by The Schmid Family Trust, as noted in the footnotes of the report. Additionally, Schmid holds 113,159 shares directly. The report indicates that Schmid disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.
Investors often monitor insider transactions like these for insights into how company executives view the financial prospects of their organizations. Such transactions can be seen as a vote of confidence when insiders purchase shares, suggesting they believe the stock is undervalued or that the company is poised for future growth.
Xeris Biopharma Holdings, Inc., headquartered in Chicago, Illinois, specializes in pharmaceutical preparations and continues to be a subject of interest for investors tracking insider trading activity. The recent purchase by Director Schmid might be interpreted by the market as a positive sign, potentially influencing the perception of the company's value.
In other recent news, Xeris Biopharma reported a significant 26% increase in total revenue for Q2 2024, totaling $48.1 million. This surge was largely driven by the robust performance of the company's three commercial products, Recorlev, Gvoke, and Keveyis, which collectively amassed over $46 million. Under CEO John Shannon's leadership, Xeris Biopharma has not only elevated its revenue outlook for the year but also emphasized rapid commercial growth, financial discipline, and enhanced external communications. Recent developments also include positive results from a Phase 2 study and a new partnership, contributing to the company's optimistic financial forecast. However, the company anticipates a slight increase in expenses during the second half of the year. Despite a minor decrease in Keveyis net revenue due to generic competition, Recorlev and Gvoke reported significant net revenue growth of 26% and 28% respectively, suggesting a continued growth trajectory.
InvestingPro Insights
Following the insider purchase by John P. Schmid, a director at Xeris Biopharma Holdings, Inc. (NASDAQ:XERS), market participants may be seeking additional data to gauge the company's financial health and future prospects. According to InvestingPro data, Xeris Biopharma has a market capitalization of $379.2 million and has shown a notable revenue growth of 35.31% over the last twelve months as of Q2 2024. This growth is complemented by a gross profit margin of 83.72%, reflecting the company's ability to maintain profitability on its sales.
However, it's important to note that analysts do not expect Xeris Biopharma to be profitable this year, as indicated by a negative P/E ratio of -6.03, which adjusts slightly to -5.41 when looking at the last twelve months as of Q2 2024. This suggests that the company is facing challenges in generating net income relative to its share price. Despite these concerns, the InvestingPro Tips highlight that the company's liquid assets exceed its short-term obligations, providing some financial stability.
Investors interested in the stock's performance will note that Xeris Biopharma has experienced a strong return over the last three months, with a 19.05% price total return. This could signal investor optimism about the company's trajectory, aligning with the insider purchase by Schmid. For those looking to delve deeper into the company's performance and insider perspectives, InvestingPro offers additional tips, with a total of 6 tips currently listed for Xeris Biopharma on https://www.investing.com/pro/XERS.
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