Xeris Biopharma (NASDAQ:XERS) Stock Price Expected to Rise, Leerink Partners Analyst Says

Xeris Biopharma (NASDAQ:XERS) had its price objective lifted by investment analysts at Leerink Partners from $5.00 to $6.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Leerink Partners’ target price would indicate a potential upside of 41.88% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Craig Hallum boosted their price target on Xeris Biopharma from $5.00 to $6.50 and gave the stock a “buy” rating in a research note on Friday. HC Wainwright reissued a “buy” rating and issued a $8.00 target price (up previously from $6.60) on shares of Xeris Biopharma in a research report on Friday. Jefferies Financial Group reaffirmed a “buy” rating and set a $6.00 price target (up previously from $4.00) on shares of Xeris Biopharma in a report on Wednesday, January 29th. Finally, Piper Sandler restated a “neutral” rating and set a $4.00 price objective (up previously from $3.00) on shares of Xeris Biopharma in a research report on Friday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Xeris Biopharma presently has an average rating of “Moderate Buy” and an average price target of $5.92.

Xeris Biopharma Stock Down 0.3 %

Xeris Biopharma stock traded down $0.01 during trading hours on Friday, hitting $4.23. The stock had a trading volume of 635,080 shares, compared to its average volume of 1,909,703. The stock’s 50-day moving average price is $3.57 and its 200-day moving average price is $3.26. Xeris Biopharma has a 12-month low of $1.69 and a 12-month high of $4.50. The stock has a market capitalization of $630.46 million, a P/E ratio of -9.37 and a beta of 2.32.

Institutional Trading of Xeris Biopharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XERS. Walleye Capital LLC bought a new stake in shares of Xeris Biopharma during the 3rd quarter valued at $3,197,000. JPMorgan Chase & Co. lifted its position in Xeris Biopharma by 166.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,043,441 shares of the company’s stock valued at $3,537,000 after purchasing an additional 651,481 shares in the last quarter. Driehaus Capital Management LLC bought a new stake in Xeris Biopharma during the fourth quarter valued at about $2,014,000. Millennium Management LLC increased its position in Xeris Biopharma by 34.8% in the fourth quarter. Millennium Management LLC now owns 1,948,552 shares of the company’s stock worth $6,606,000 after buying an additional 502,853 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Xeris Biopharma by 31.3% in the fourth quarter. Renaissance Technologies LLC now owns 2,098,840 shares of the company’s stock worth $7,115,000 after buying an additional 500,120 shares during the period. 42.75% of the stock is owned by hedge funds and other institutional investors.

About Xeris Biopharma

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.