BHV - Xeris Biopharma spikes as CEO buys company shares

Micro-cap pharma stock Xeris Biopharma (NASDAQ:XERS) has added more than a quarter of value to record its biggest ever intraday gain on Monday after the Chief Executive Paul R. Edick disclosed the purchase of 100,000 of company shares. Mr. Edick who is also the chairman of the Xeris’ (XERS) board, made the purchase on Thursday at $1.4038 per share. The transaction valued at $140,380 increased his stake by ~7% to ~1.5 million shares, a portion of which is held in a trust. Xeris (XERS) has lost more than 30% of value over the past 12 months, including ~25% in this year alone. The selloff in the commercial-stage firm has gained significance at a time when the M&A activity of the pharma space is picking up. Last week, Pfizer (PFE) agreed to acquire Biohaven Pharmaceuticals (BHV) for more than $11 billion, prompting Wedbush analyst Andreas Argyrides to speculate which could be next acquisition targets.

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Xeris Biopharma spikes as CEO buys company shares