Xeris Biopharma (NASDAQ:XERS) Sets New 52-Week High - Time to Buy?

Key Points

• Xeris Biopharma stock reached a new 52-week high of $8.57, closing last at $8.46 with a trading volume of 817,651 shares.
• Analyst ratings for Xeris Biopharma are mixed, with recommendations ranging from "Strong Buy" to "Sell," and an average target price of $7.08.
• Insider trading activity included significant sell-offs, with directors selling over 207,000 shares in the last quarter, contributing to a 4.56% insider ownership of the company.

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The company traded as high as $8.57 and last traded at $8.46, with a volume of 817651 shares traded. The stock had previously closed at $8.12.

Analyst Upgrades and Downgrades

XERS has been the topic of a number of recent analyst reports. Wall Street Zen lowered Xeris Biopharma from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Leerink Partners upped their price objective on Xeris Biopharma from $7.00 to $9.00 and gave the stock an "outperform" rating in a report on Tuesday, August 19th. Zacks Research upgraded Xeris Biopharma from a "hold" rating to a "strong-buy" rating in a report on Monday. Weiss Ratings restated a "sell (d-)" rating on shares of Xeris Biopharma in a report on Wednesday, October 8th. 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. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $7.08.

Xeris Biopharma Trading Up 10.2%

The business's 50-day simple moving average is $7.73 and its two-hundred day simple moving average is $5.77. The company has a market capitalization of $1.44 billion, a PE ratio of -42.64 and a beta of 0.39.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last posted 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 firm had revenue of $67.71 million during the quarter, compared to analysts' expectations of $64.58 million. On average, analysts forecast that Xeris Biopharma Holdings, Inc. will post -0.41 EPS for the current year.

Insiders Place Their Bets

In related news, Director Marla Persky sold 15,500 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $7.72, for a total value of $119,660.00. Following the sale, the director directly owned 142,000 shares in the company, valued at $1,096,240. This trade represents a 9.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 207,732 shares of company stock valued at $1,550,437 in the last quarter. 4.56% of the stock is owned by insiders.

Institutional Investors Weigh In On Xeris Biopharma

Large investors have recently modified their holdings of the stock. AQR Capital Management LLC boosted its stake in shares of Xeris Biopharma by 13.4% during the 1st quarter. AQR Capital Management LLC now owns 946,766 shares of the company's stock worth $5,198,000 after acquiring an additional 111,826 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Xeris Biopharma by 92.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 31,254 shares of the company's stock worth $172,000 after acquiring an additional 14,986 shares in the last quarter. Nuveen LLC bought a new stake in shares of Xeris Biopharma during the 1st quarter worth $12,240,000. CWM LLC boosted its stake in shares of Xeris Biopharma by 79.3% during the 1st quarter. CWM LLC now owns 66,972 shares of the company's stock worth $368,000 after acquiring an additional 29,614 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Xeris Biopharma by 90.3% during the 1st quarter. New York State Common Retirement Fund now owns 43,422 shares of the company's stock worth $238,000 after acquiring an additional 20,600 shares in the last quarter. 42.75% of the stock is 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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