Xeris Biopharma (NASDAQ:XERS) Reaches New 1-Year High – Time to Buy?

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $5.97 and last traded at $5.88, with a volume of 1014781 shares. The stock had previously closed at $5.81.

Analyst Upgrades and Downgrades

XERS has been the subject of a number of recent analyst reports. HC Wainwright restated a “buy” rating and issued a $8.00 target price (up from $6.60) on shares of Xeris Biopharma in a report on Friday, March 7th. Craig Hallum upped their price objective on Xeris Biopharma from $5.00 to $6.50 and gave the stock a “buy” rating in a report on Friday, March 7th. Leerink Partners lifted their price objective on Xeris Biopharma from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Friday, March 7th. Jefferies Financial Group reiterated a “buy” rating and issued a $6.00 price target (up from $4.00) on shares of Xeris Biopharma in a report on Wednesday, January 29th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $4.00 price target (up from $3.00) on shares of Xeris Biopharma in a report on Friday, March 7th. 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.92.

Xeris Biopharma Stock Performance

The stock has a market capitalization of $903.63 million, a P/E ratio of -13.04 and a beta of 2.32. The business has a 50 day simple moving average of $3.99 and a 200-day simple moving average of $3.46.

Insider Activity

In other news, insider Beth Hecht sold 40,000 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $5.43, for a total transaction of $217,200.00. Following the transaction, the insider now owns 1,353,510 shares in the company, valued at approximately $7,349,559.30. This trade represents a 2.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.56% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Xeris Biopharma

Several institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC acquired a new stake in Xeris Biopharma in the 4th quarter worth approximately $34,000. R Squared Ltd bought a new stake in shares of Xeris Biopharma during the 4th quarter worth $42,000. Quantbot Technologies LP acquired a new position in Xeris Biopharma in the 3rd quarter valued at $44,000. Cibc World Markets Corp bought a new position in Xeris Biopharma in the 4th quarter worth $44,000. Finally, Raymond James Financial Inc. bought a new stake in Xeris Biopharma during the fourth quarter valued at about $45,000. 42.75% of the stock is currently owned by institutional investors.

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.