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

Key Points

• Xeris Biopharma's stock reached a new 52-week high of $8.03, with the last trading price at $7.88.
• Several analysts have raised their price targets for Xeris Biopharma, with Oppenheimer increasing it from $6.00 to $7.00 and HC Wainwright setting a target of $10.00.
• Insider selling activity includes Director Jeffrey W. Sherman selling 42,232 shares valued at approximately $334,477, marking a significant decrease in his ownership position by 16.15%.

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $8.03 and last traded at $7.88, with a volume of 291585 shares trading hands. The stock had previously closed at $7.92.

Analysts Set New Price Targets

A number of research firms have commented on XERS. Oppenheimer raised their price target on shares of Xeris Biopharma from $6.00 to $7.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. HC Wainwright initiated coverage on shares of Xeris Biopharma in a research note on Tuesday, August 12th. They issued a "buy" rating and a $10.00 price objective on the stock. Wall Street Zen raised shares of Xeris Biopharma from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Finally, Leerink Partners raised their price objective on shares of Xeris Biopharma from $7.00 to $9.00 and gave the stock an "outperform" rating in a report on Tuesday, August 19th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Xeris Biopharma currently has an average rating of "Moderate Buy" and a consensus target price of $7.08.

Xeris Biopharma Stock Performance

The stock's 50-day moving average price is $6.00 and its two-hundred day moving average price is $5.06. The stock has a market capitalization of $1.25 billion, a PE ratio of -36.97 and a beta of 0.13.

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

Insider Buying and Selling at Xeris Biopharma

In other Xeris Biopharma news, Director Jeffrey W. Sherman sold 42,232 shares of the firm's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $7.92, for a total transaction of $334,477.44. Following the sale, the director owned 219,188 shares in the company, valued at approximately $1,735,968.96. This trade represents a 16.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Johnson sold 107,500 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were 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 of the company's stock, valued at approximately $6,101,095.56. This trade represents a 11.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 192,232 shares of company stock worth $1,430,777 over the last quarter. Company insiders own 4.56% of the company's stock.

Institutional Trading of Xeris Biopharma

A number of institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN raised its holdings in shares of Xeris Biopharma by 38.7% in the fourth quarter. Wells Fargo & Company MN now owns 79,036 shares of the company's stock valued at $268,000 after acquiring an additional 22,050 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Xeris Biopharma during the fourth quarter worth about $45,000. MetLife Investment Management LLC boosted its position in Xeris Biopharma by 47.7% in the fourth quarter. MetLife Investment Management LLC now owns 87,432 shares of the company's stock valued at $296,000 after buying an additional 28,224 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Xeris Biopharma by 5.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 170,482 shares of the company's stock valued at $578,000 after buying an additional 9,506 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Xeris Biopharma in the fourth quarter valued at approximately $67,000. 42.75% of the stock is currently owned by 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.

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