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Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) director John P. Schmid has recently made a notable investment in the company's stock. On August 9, Schmid acquired 4,285 shares at a price of $2.365 per share, totaling approximately $10,134.
This purchase reflects a vote of confidence from the director in the pharmaceutical company's future prospects. With this latest transaction, Schmid's direct and indirect holdings through The Schmid Family Trust have reached a total of 20,685 shares, as indicated in the footnotes of the filing. However, Schmid has disclaimed beneficial ownership of these securities except to the extent of his pecuniary interest.
Investors often look to insider transactions such as these to gauge the sentiment of high-level executives within a company. While the buy itself may not be large in the grand scheme of the market, it does provide a glimpse into the actions of those who are arguably most familiar with the company's inner workings and potential.
Xeris Biopharma Holdings, Inc. specializes in pharmaceutical preparations, and this insider activity may be of interest to current and potential shareholders following the company's performance and strategic direction.
In other recent news, Xeris Biopharma has reported a significant 26% increase in total revenue for Q2 2024, reaching $48.1 million. This growth was mainly driven by the strong performance of its three commercial products, Recorlev, Gvoke, and Keveyis, which collectively generated over $46 million. Under CEO John Shannon, the company has raised its revenue outlook for the year, with an emphasis on rapid commercial growth, financial discipline, and improved external communications.
The company has also highlighted a robust pipeline, including positive results from a Phase 2 study and a new partnership, contributing to its optimistic financial forecast. However, Keveyis net revenue saw a slight decrease of 2% on a year-to-date basis due to generic competition. On the other hand, Recorlev and Gvoke experienced significant net revenue growth of 26% and 28%, respectively, promising continued growth driven by a strong pipeline of referrals and field expansion.
These recent developments have positioned Xeris Biopharma for a positive trajectory in the pharmaceutical market, with a strong cash position and an optimistic outlook.
InvestingPro Insights
Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) has been the subject of notable insider activity, with director John P. Schmid investing in the company's stock. To further understand the context of this insider transaction, we can look at some key metrics and insights from InvestingPro. The company's market capitalization stands at approximately $334.5 million, reflecting its size within the pharmaceutical industry. Despite facing challenges in profitability, as indicated by a negative price-to-earnings (P/E) ratio of -5.32, Xeris has demonstrated impressive revenue growth over the last twelve months, with a 35.31% increase.
InvestingPro Tips reveal that analysts have revised their earnings upwards for the upcoming period, suggesting potential optimism about the company's future performance. Additionally, Xeris's liquid assets exceed its short-term obligations, indicating a solid financial position to meet immediate liabilities. However, it's important to note that analysts do not expect the company to be profitable this year, and Xeris does not pay a dividend to shareholders.
The company's stock has also seen a strong return over the last three months, with a 27.84% price total return, which may catch the attention of investors looking for recent positive momentum. For those interested in further insights and tips, there are additional InvestingPro Tips available at: https://www.investing.com/pro/XERS.
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