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

Xeris Biopharma logo with Medical background

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.
  • Interested in Xeris Biopharma? Here are five stocks we like better.

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.

Check Out Our Latest Stock Report on XERS

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

(Get Free Report)

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.

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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