Xeris Biopharma (NASDAQ:XERS) Hits New 52-Week High - Should You Buy?

Key Points

• Xeris Biopharma shares recently reached a new 52-week high of $8.28, up from a previous close of $7.67, with a trading volume of over 2 million shares.
• Multiple analysts have indicated positive sentiment towards Xeris Biopharma, with five analysts rating it as a Buy and projected price targets ranging from $9.00 to $10.00.
• Insider selling has been notable, with directors offloading shares, yet institutional investors maintain significant holdings, owning about 42.75% of the stock.

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Get Free Report) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $8.18 and last traded at $8.28, with a volume of 2060580 shares changing hands. The stock had previously closed at $7.67.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. HC Wainwright assumed coverage on Xeris Biopharma in a research report on Tuesday, August 12th. They set a "buy" rating and a $10.00 price target on the stock. Leerink Partners upped their price objective on Xeris Biopharma from $7.00 to $9.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. Finally, Wall Street Zen downgraded shares of Xeris Biopharma from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $7.08.

Xeris Biopharma Price Performance

The company's 50-day moving average price is $6.75 and its two-hundred day moving average price is $5.43.

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

Insider Activity

In related news, Director Jeffrey W. Sherman sold 42,232 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $7.92, for a total transaction of $334,477.44. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John Johnson sold 107,500 shares of Xeris Biopharma stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $7.32, for a total transaction of $786,900.00. Following the transaction, the director directly owned 833,483 shares in the company, valued at $6,101,095.56. The trade was a 11.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 207,732 shares of company stock valued at $1,550,437 over the last three months. Corporate insiders own 4.56% of the company's stock.

Hedge Funds Weigh In On Xeris Biopharma

A number of large investors have recently made changes to their positions in the company. Apella Capital LLC bought a new position in shares of Xeris Biopharma in the first quarter worth about $55,000. Xponance Inc. bought a new stake in shares of Xeris Biopharma during the 1st quarter worth $57,000. FORA Capital LLC purchased a new stake in Xeris Biopharma in the 1st quarter worth about $60,000. FNY Investment Advisers LLC purchased a new position in Xeris Biopharma during the 1st quarter valued at about $63,000. Finally, Two Sigma Advisers LP purchased a new position in shares of Xeris Biopharma during the fourth quarter worth about $47,000. 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.