Xeris Biopharma (NASDAQ:XERS) Hits New 12-Month High - Time to Buy?

Key Points

• Xeris Biopharma's stock reached a new 12-month high, trading at $8.36 during mid-day, reflecting strong market interest.
• Analysts have varying opinions with Leerink Partners raising their target price to $9.00 and Wall Street Zen downgrading to "buy," leading to an average rating of "Moderate Buy" with a consensus price target of $7.08.
• Insider trading saw significant activity, with directors selling over 149,000 shares recently, indicating a decrease in their stakes in the company.

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $8.36 and last traded at $8.24, with a volume of 1399800 shares changing hands. The stock had previously closed at $8.01.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on XERS. Leerink Partners increased their target price on Xeris Biopharma from $7.00 to $9.00 and gave the company an "outperform" rating in a research report on Tuesday, August 19th. Wall Street Zen lowered Xeris Biopharma from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Finally, HC Wainwright initiated coverage on Xeris Biopharma in a report on Tuesday, August 12th. They set a "buy" rating and a $10.00 price objective for the company. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Xeris Biopharma presently has an average rating of "Moderate Buy" and a consensus price target of $7.08.

Xeris Biopharma Stock Performance

The stock has a 50 day simple moving average of $7.20 and a two-hundred day simple moving average of $5.61. The firm has a market cap of $1.34 billion, a PE ratio of -39.50 and a beta of 0.39.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.01) earnings per share for the quarter, beating analysts' consensus estimates of ($0.03) by $0.02. The company had revenue of $67.71 million for the quarter, compared to analysts' expectations of $64.58 million. Equities research analysts forecast that Xeris Biopharma Holdings, Inc. will post -0.41 earnings per share for the current year.

Insider Buying and Selling

In other news, Director John Johnson sold 107,500 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $7.32, for a total transaction of $786,900.00. Following the sale, the director directly owned 833,483 shares in the company, valued at $6,101,095.56. This trade represents a 11.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey W. Sherman sold 42,232 shares of the firm's 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 in the company, valued at $1,735,968.96. This trade represents a 16.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 207,732 shares of company stock worth $1,550,437. Corporate insiders own 6.47% of the company's stock.

Institutional Investors Weigh In On Xeris Biopharma

Institutional investors have recently modified their holdings of the business. Apella Capital LLC acquired a new stake in shares of Xeris Biopharma during the 1st quarter valued at about $55,000. Xponance Inc. acquired a new stake in shares of Xeris Biopharma during the 1st quarter valued at about $57,000. FORA Capital LLC acquired a new stake in shares of Xeris Biopharma during the 1st quarter valued at about $60,000. FNY Investment Advisers LLC acquired a new stake in Xeris Biopharma in the 1st quarter worth about $63,000. Finally, Two Sigma Advisers LP acquired a new stake in Xeris Biopharma in the 4th quarter worth about $47,000. 42.75% of the stock is currently owned by institutional investors and hedge funds.

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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