Xeris Biopharma (NASDAQ:XERS) Receives Overweight Rating from Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Xeris Biopharma (NASDAQ:XERS - Free Report) in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a $3.00 price objective on the stock, down from their prior price objective of $4.00.

A number of other research firms have also issued reports on XERS. HC Wainwright upped their price target on Xeris Biopharma from $5.50 to $6.00 and gave the company a buy rating in a research report on Thursday, March 7th. Oppenheimer began coverage on Xeris Biopharma in a research note on Thursday, March 28th. They issued an outperform rating and a $5.00 target price for the company.

Xeris Biopharma Price Performance

Xeris Biopharma stock traded down $0.12 during midday trading on Friday, reaching $1.76. The company had a trading volume of 1,939,033 shares, compared to its average volume of 2,017,956. The company has a market capitalization of $260.93 million, a P/E ratio of -3.86 and a beta of 2.37. Xeris Biopharma has a 12-month low of $1.46 and a 12-month high of $3.26. The firm's fifty day simple moving average is $2.07 and its 200-day simple moving average is $2.20. The company has a debt-to-equity ratio of 49.27, a current ratio of 1.64 and a quick ratio of 1.23.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.02). The company had revenue of $40.64 million during the quarter, compared to analysts' expectations of $41.56 million. Xeris Biopharma had a negative net margin of 37.98% and a negative return on equity of 610.76%. As a group, equities analysts anticipate that Xeris Biopharma will post -0.38 EPS for the current year.

Institutional Investors Weigh In On Xeris Biopharma

Institutional investors and hedge funds have recently made changes to their positions in the stock. Invenomic Capital Management LP acquired a new position in Xeris Biopharma during the 4th quarter worth about $1,336,000. Vanguard Group Inc. increased its stake in Xeris Biopharma by 7.3% during the first quarter. Vanguard Group Inc. now owns 7,606,242 shares of the company's stock worth $16,810,000 after purchasing an additional 519,897 shares during the period. Stonepine Capital Management LLC lifted its position in shares of Xeris Biopharma by 7.5% during the third quarter. Stonepine Capital Management LLC now owns 5,915,372 shares of the company's stock worth $11,003,000 after purchasing an additional 415,144 shares in the last quarter. GSA Capital Partners LLP boosted its stake in shares of Xeris Biopharma by 1,047.8% in the third quarter. GSA Capital Partners LLP now owns 381,231 shares of the company's stock valued at $709,000 after purchasing an additional 348,016 shares during the period. Finally, CenterBook Partners LP acquired a new position in shares of Xeris Biopharma in the fourth quarter valued at approximately $260,000. 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.