Xeris Biopharma (NASDAQ:XERS) Stock Price Down 5.5% - Should You Sell?

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Get Free Report)'s stock price was down 5.5% during mid-day trading on Tuesday . The stock traded as low as $4.65 and last traded at $4.77. Approximately 1,594,521 shares traded hands during mid-day trading, a decline of 18% from the average daily volume of 1,953,979 shares. The stock had previously closed at $5.05.

Wall Street Analysts Forecast Growth

Several research firms have commented on XERS. HC Wainwright restated a "buy" rating and set a $8.00 price objective (up from $6.60) on shares of Xeris Biopharma in a report on Friday, March 7th. Piper Sandler restated a "neutral" rating and issued a $4.00 price objective (up from $3.00) on shares of Xeris Biopharma in a report on Friday, March 7th. Craig Hallum increased their target price on shares of Xeris Biopharma from $5.00 to $6.50 and gave the stock a "buy" rating in a report on Friday, March 7th. Leerink Partners raised their target price on shares of Xeris Biopharma from $5.00 to $6.00 and gave the company an "outperform" rating in a research report on Friday, March 7th. Finally, Wall Street Zen cut shares of Xeris Biopharma from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Xeris Biopharma currently has a consensus rating of "Moderate Buy" and an average price target of $6.25.

Xeris Biopharma Trading Up 2.7%

The firm has a 50-day simple moving average of $4.57 and a two-hundred day simple moving average of $4.06. The company has a market capitalization of $716.24 million, a price-to-earnings ratio of -10.18 and a beta of 1.10.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. The company had revenue of $57.80 million for the quarter, compared to analyst estimates of $57.61 million. Equities research analysts anticipate that Xeris Biopharma Holdings, Inc. will post -0.41 EPS for the current year.

Insider Activity

In related news, insider Beth Hecht sold 40,000 shares of the firm's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $5.43, for a total transaction of $217,200.00. Following the sale, the insider now owns 1,353,510 shares in the company, valued at approximately $7,349,559.30. This trade represents a 2.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.47% of the company's stock.

Hedge Funds Weigh In On Xeris Biopharma

Several institutional investors and hedge funds have recently modified their holdings of the business. Legato Capital Management LLC acquired a new stake in Xeris Biopharma in the fourth quarter valued at approximately $482,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Xeris Biopharma by 106.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 171,332 shares of the company's stock valued at $581,000 after buying an additional 88,224 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Xeris Biopharma by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 7,899,063 shares of the company's stock valued at $26,778,000 after acquiring an additional 133,738 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Xeris Biopharma by 10.5% in the 4th quarter. Principal Financial Group Inc. now owns 113,217 shares of the company's stock valued at $384,000 after purchasing an additional 10,748 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Xeris Biopharma during the 4th quarter worth $45,000. Hedge funds and other institutional investors own 42.75% of the company's stock.

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.