Xeris Biopharma (NASDAQ:XERS) Sees Unusually-High Trading Volume – Here’s What Happened

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) shares saw strong trading volume on Friday . 4,159,031 shares were traded during mid-day trading, an increase of 93% from the previous session’s volume of 2,159,568 shares.The stock last traded at $4.88 and had previously closed at $4.56.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on XERS. HC Wainwright reissued a “buy” rating and issued a $8.00 price target (up from $6.60) on shares of Xeris Biopharma in a report on Friday, March 7th. Jefferies Financial Group restated a “buy” rating and set a $6.00 price objective (up from $4.00) on shares of Xeris Biopharma in a research report on Wednesday, January 29th. Piper Sandler restated a “neutral” rating and issued a $4.00 target price (up previously from $3.00) on shares of Xeris Biopharma in a research note on Friday, March 7th. Leerink Partners raised their price target on Xeris Biopharma from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Friday, March 7th. Finally, Craig Hallum lifted their price target on Xeris Biopharma from $5.00 to $6.50 and gave the company a “buy” rating in a report on Friday, March 7th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5.92.

Xeris Biopharma Stock Up 5.8 %

The company has a market cap of $742.76 million, a price-to-earnings ratio of -10.77 and a beta of 2.32. The business has a 50-day simple moving average of $3.64 and a two-hundred day simple moving average of $3.29.

Hedge Funds Weigh In On Xeris Biopharma

Several 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 worth $3,197,000. JPMorgan Chase & Co. boosted its holdings 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 acquiring an additional 651,481 shares during the period. Driehaus Capital Management LLC bought a new stake in Xeris Biopharma during the fourth quarter valued at about $2,014,000. Millennium Management LLC grew its position in shares of Xeris Biopharma by 34.8% in the fourth quarter. Millennium Management LLC now owns 1,948,552 shares of the company’s stock valued at $6,606,000 after purchasing an additional 502,853 shares during the last quarter. Finally, Renaissance Technologies LLC increased 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 purchasing an additional 500,120 shares during the period. Institutional investors and hedge funds 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.