Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Xeris Biopharma Holdings, Inc. has received a consensus recommendation of "Moderate Buy" from six research firms, with five analysts suggesting a buy and one a hold.
• The average 12-month price target for Xeris Biopharma shares is $7.08, with recent upgrades from analysts raising target prices up to $10.00.
• The company's last earnings report showed a revenue of $67.71 million for the quarter, exceeding the consensus estimate of $64.58 million.

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Get Free Report) has earned an average rating of "Moderate Buy" from the six research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $7.0833.

XERS has been the subject of a number of research analyst reports. Wall Street Zen downgraded Xeris Biopharma from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 5th. HC Wainwright initiated coverage on Xeris Biopharma in a research report on Tuesday, August 12th. They set a "buy" rating and a $10.00 target price for the company. Finally, Leerink Partners lifted their target price on Xeris Biopharma from $7.00 to $9.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 19th.

Xeris Biopharma Stock Performance

Xeris Biopharma stock opened at $7.81 on Thursday. Xeris Biopharma has a fifty-two week low of $2.66 and a fifty-two week high of $8.03. The firm's 50-day simple moving average is $6.37 and its 200 day simple moving average is $5.22. The stock has a market cap of $1.26 billion, a PE ratio of -37.19 and a beta of 0.13.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.02. The firm 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 will post -0.41 EPS for the current fiscal year.

Insider Activity at Xeris Biopharma

In other Xeris Biopharma news, Director Jeffrey W. Sherman sold 42,232 shares of Xeris Biopharma stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $7.92, for a total value of $334,477.44. Following the sale, the director owned 219,188 shares of the company's stock, valued at approximately $1,735,968.96. The trade was a 16.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dawn Halkuff sold 42,500 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 115,000 shares of the company's stock, valued at $837,200. This represents a 26.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 192,232 shares of company stock worth $1,430,777. 6.47% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Xeris Biopharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XERS. Wealth Enhancement Advisory Services LLC lifted its stake 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. Nuveen LLC bought a new stake in Xeris Biopharma during the 1st quarter valued at $12,240,000. Millennium Management LLC raised its holdings in Xeris Biopharma by 34.8% during the 4th quarter. Millennium Management LLC now owns 1,948,552 shares of the company's stock valued at $6,606,000 after acquiring an additional 502,853 shares during the period. Two Sigma Advisers LP purchased a new stake in shares of Xeris Biopharma during the fourth quarter worth $47,000. Finally, Raymond James Financial Inc. bought a new position in shares of Xeris Biopharma in the fourth quarter worth $45,000. Institutional investors own 42.75% of the company's stock.

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.

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