Xeris Biopharma (NASDAQ:XERS) Hits New 52-Week High – Here’s Why

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) hit a new 52-week high during trading on Tuesday . The stock traded as high as $10.02 and last traded at $9.9950, with a volume of 832647 shares. The stock had previously closed at $9.90.

Analysts Set New Price Targets

XERS has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xeris Biopharma in a research note on Wednesday, October 8th. HC Wainwright initiated coverage on shares of Xeris Biopharma in a research note on Tuesday, August 12th. They issued a “buy” rating and a $10.00 target price on the stock. Zacks Research downgraded shares of Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Leerink Partners lifted their target price on shares of Xeris Biopharma from $7.00 to $9.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 19th. Finally, Oppenheimer lifted their price target on shares of Xeris Biopharma from $8.00 to $18.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $8.92.

Xeris Biopharma Stock Performance

The stock’s 50-day simple moving average is $8.40 and its 200-day simple moving average is $6.35. The firm has a market capitalization of $1.25 billion, a PE ratio of -36.71 and a beta of 0.21.

Xeris Biopharma (NASDAQ:XERS) last announced its earnings results on Thursday, August 7th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The business had revenue of $67.71 million for the quarter, compared to the consensus estimate of $64.58 million. As a group, analysts predict that Xeris Biopharma Holdings, Inc. will post -0.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Xeris Biopharma

In other news, Director Marla Persky sold 15,500 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $7.72, for a total transaction of $119,660.00. Following the sale, the director owned 142,000 shares in the company, valued at approximately $1,096,240. The trade was a 9.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Dawn Halkuff sold 42,500 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $7.28, for a total transaction of $309,400.00. Following the sale, the director owned 115,000 shares in the company, valued at approximately $837,200. This trade represents a 26.98% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 207,732 shares of company stock worth $1,550,437. Corporate insiders own 6.47% of the company’s stock.

Institutional Trading of Xeris Biopharma

A number of hedge funds have recently modified their holdings of XERS. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Xeris Biopharma by 92.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 31,254 shares of the company’s stock valued at $172,000 after buying an additional 14,986 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Xeris Biopharma by 11.8% in the 1st quarter. Bank of New York Mellon Corp now owns 360,324 shares of the company’s stock worth $1,978,000 after purchasing an additional 37,949 shares in the last quarter. Cerity Partners LLC boosted its stake in Xeris Biopharma by 107.3% in the 1st quarter. Cerity Partners LLC now owns 31,851 shares of the company’s stock worth $175,000 after purchasing an additional 16,484 shares in the last quarter. Xponance Inc. bought a new position in Xeris Biopharma in the 1st quarter worth about $57,000. Finally, Gateway Wealth Partners LLC bought a new position in Xeris Biopharma in the 1st quarter worth about $92,000. Institutional investors own 42.75% of the company’s stock.

Xeris Biopharma Company Profile

Xeris Biopharma Holdings, Inc, a biopharmaceutical company, engages in developing and commercializing therapies in Illinois. The company offers Gvoke, a ready-to-use liquid-stable glucagon for the treatment of severe hypoglycemia pediatric and adult patients; Keveyis, a therapy for the treatment of hyperkalemic, hypokalemic, and related variants of primary periodic paralysis; and Recorlev, a cortisol synthesis inhibitor proved for the treatment of endogenous hypercortisolemia in adult patients with Cushing's syndrome.