Xeris Biopharma (NASDAQ:XERS) Hits New 52-Week High - Still a 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) 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 changing hands. The stock had previously closed at $7.92.

Analysts Set New Price Targets

XERS has been the topic of a number of research reports. Leerink Partners raised their target price on shares of Xeris Biopharma from $7.00 to $9.00 and gave the company an "outperform" rating in a research report on Tuesday, August 19th. HC Wainwright initiated coverage on shares of Xeris Biopharma in a research report on Tuesday, August 12th. They set a "buy" rating and a $10.00 target price on the stock. Finally, Wall Street Zen downgraded shares of Xeris Biopharma from a "strong-buy" rating to a "buy" rating in a research report on Friday. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $7.08.

Xeris Biopharma Stock Performance

The business's 50 day moving average is $6.19 and its 200 day moving average is $5.15. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -37.00 and a beta of 0.12.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.01) EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.02. The company had revenue of $67.71 million during the quarter, compared to analyst estimates of $64.58 million. Sell-side analysts predict that Xeris Biopharma Holdings, Inc. will post -0.41 EPS for the current year.

Insider Activity at Xeris Biopharma

In other Xeris Biopharma news, insider Kevin Mcculloch acquired 25,000 shares of the firm's stock in a transaction on Friday, June 13th. The stock was acquired at an average cost of $4.38 per share, for a total transaction of $109,500.00. Following the purchase, the insider owned 1,708,585 shares in the company, valued at approximately $7,483,602.30. The trade was a 1.48% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dawn Halkuff sold 42,500 shares of Xeris Biopharma 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 sale, the director owned 115,000 shares of the company's stock, valued at approximately $837,200. The trade was a 26.98% 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 valued at $1,430,777 over the last 90 days. Company insiders own 4.56% of the company's stock.

Institutional Trading of Xeris Biopharma

Institutional investors and hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC lifted its stake in 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 acquiring an additional 14,986 shares during the period. Nuveen LLC acquired a new stake in Xeris Biopharma during the 1st quarter valued at approximately $12,240,000. Millennium Management LLC lifted its stake 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 acquired a new stake in Xeris Biopharma during the 4th quarter valued at approximately $47,000. Finally, Raymond James Financial Inc. acquired a new stake in Xeris Biopharma during the 4th quarter valued at approximately $45,000. 42.75% of the stock is currently owned by institutional investors and hedge funds.

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.