Xeris Biopharma (NASDAQ:XERS) Hits New 12-Month High - What's Next?

Key Points

• Xeris Biopharma's stock reached a new 52-week high of $9.41 during trading, closing at $9.34 with a trading volume of over 1.76 million shares.
• Analysts have shown mixed sentiment towards the stock, with ratings ranging from "strong-buy" to "sell," and a consensus target price of $7.08.
• The company recently reported better-than-expected earnings for the last quarter, with revenue of $67.71 million surpassing analyst expectations.

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $9.41 and last traded at $9.34, with a volume of 1765327 shares trading hands. The stock had previously closed at $9.24.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Leerink Partners lifted their price objective on shares of Xeris Biopharma from $7.00 to $9.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Wall Street Zen raised Xeris Biopharma from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Weiss Ratings reissued a "sell (d-)" rating on shares of Xeris Biopharma in a report on Wednesday, October 8th. Zacks Research upgraded Xeris Biopharma from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 13th. Finally, HC Wainwright started coverage on shares of Xeris Biopharma in a research report on Tuesday, August 12th. They set a "buy" rating and a $10.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $7.08.

Xeris Biopharma Price Performance

The firm has a fifty day moving average of $7.95 and a 200 day moving average of $5.89. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of -44.47 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) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.02. The company had revenue of $67.71 million during the quarter, compared to analysts' expectations of $64.58 million. Research analysts predict that Xeris Biopharma Holdings, Inc. will post -0.41 EPS for the current year.

Insider Activity

In other Xeris Biopharma news, Director Jeffrey W. Sherman sold 42,232 shares of Xeris Biopharma stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $7.92, for a total value of $334,477.44. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Johnson sold 107,500 shares of the 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 approximately $6,101,095.56. The trade was a 11.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 207,732 shares of company stock worth $1,550,437 in the last ninety days. Corporate insiders own 4.56% of the company's stock.

Institutional Trading of Xeris Biopharma

A number of institutional investors and hedge funds have recently made changes to their positions in XERS. Nuveen LLC acquired a new stake in Xeris Biopharma in the 1st quarter valued at $12,240,000. Qube Research & Technologies Ltd grew its position in shares of Xeris Biopharma by 67.5% in the second quarter. Qube Research & Technologies Ltd now owns 3,089,771 shares of the company's stock valued at $14,429,000 after purchasing an additional 1,245,188 shares during the period. Parkman Healthcare Partners LLC increased its stake in shares of Xeris Biopharma by 207.8% during the first quarter. Parkman Healthcare Partners LLC now owns 1,780,454 shares of the company's stock worth $9,775,000 after purchasing an additional 1,201,943 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Xeris Biopharma by 75.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,790,014 shares of the company's stock worth $15,317,000 after purchasing an additional 1,199,435 shares during the last quarter. Finally, CenterBook Partners LP raised its position in shares of Xeris Biopharma by 237.7% during the 2nd quarter. CenterBook Partners LP now owns 1,594,229 shares of the company's stock worth $7,445,000 after purchasing an additional 1,122,154 shares during the last quarter. 42.75% of the stock is currently owned by hedge funds and other 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.

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