Xeris Biopharma (NASDAQ:XERS) Hits New 52-Week High - Still a Buy?

Key Points

• Xeris Biopharma shares reached a new 52-week high of $7.61, with a trading volume of over 1.6 million shares.
• Analysts have recently upgraded Xeris Biopharma's stock ratings, with HC Wainwright setting a price target of $10.00 and Wall Street Zen upgrading to a "strong-buy."
• The company's quarterly earnings beat expectations, reporting revenue of $67.71 million, exceeding the forecast of $64.58 million.

Shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as $7.61 and last traded at $7.61, with a volume of 1697373 shares traded. The stock had previously closed at $7.30.

Wall Street Analyst Weigh In

XERS has been the topic of several research reports. Oppenheimer upped their price objective on shares of Xeris Biopharma from $6.00 to $7.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. Wall Street Zen upgraded shares of Xeris Biopharma from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Finally, HC Wainwright assumed 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 equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Xeris Biopharma presently has an average rating of "Moderate Buy" and a consensus price target of $6.58.

Xeris Biopharma Stock Performance

The company has a market cap of $1.22 billion, a P/E ratio of -36.05 and a beta of 0.65. The firm has a 50 day moving average price of $5.40 and a 200-day moving average price of $4.79.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last issued 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 during the quarter, compared to the consensus estimate of $64.58 million. On average, sell-side analysts forecast that Xeris Biopharma Holdings, Inc. will post -0.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Dawn Halkuff sold 42,500 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $7.28, for a total value of $309,400.00. Following the transaction, the director directly owned 115,000 shares in the company, valued at approximately $837,200. This trade represents a 26.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Kevin Mcculloch bought 25,000 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was purchased at an average price of $4.38 per share, for a total transaction of $109,500.00. Following the acquisition, the insider directly owned 1,708,585 shares in the company, valued at approximately $7,483,602.30. This trade represents a 1.48% increase in their ownership of the stock. The disclosure for this purchase can be found here. 6.47% of the stock is owned by insiders.

Institutional Trading of Xeris Biopharma

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Xeris Biopharma by 2.7% during the first quarter. Vanguard Group Inc. now owns 8,109,644 shares of the company's stock worth $44,522,000 after buying an additional 210,581 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Xeris Biopharma by 7.2% in the second quarter. Geode Capital Management LLC now owns 3,650,688 shares of the company's stock worth $17,052,000 after acquiring an additional 244,862 shares during the last quarter. Qube Research & Technologies Ltd increased its position in Xeris Biopharma by 67.5% during the second quarter. Qube Research & Technologies Ltd now owns 3,089,771 shares of the company's stock worth $14,429,000 after acquiring an additional 1,245,188 shares during the period. Goldman Sachs Group Inc. raised its stake in Xeris Biopharma by 75.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,790,014 shares of the company's stock valued at $15,317,000 after purchasing an additional 1,199,435 shares during the last quarter. Finally, Millennium Management LLC raised its stake in Xeris Biopharma by 19.0% during the 1st quarter. Millennium Management LLC now owns 2,317,972 shares of the company's stock valued at $12,726,000 after purchasing an additional 369,420 shares during the last quarter. Institutional investors own 42.75% of the company's stock.

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.