Xeris Biopharma (NASDAQ:XERS) Stock Price Up 7.4% - Still a Buy?

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Get Free Report)'s share price rose 7.4% during trading on Wednesday . The stock traded as high as $5.10 and last traded at $5.13. Approximately 1,114,097 shares were traded during trading, a decline of 45% from the average daily volume of 2,036,129 shares. The stock had previously closed at $4.77.

Wall Street Analysts Forecast Growth

XERS has been the topic of several research analyst reports. Oppenheimer raised their price objective on Xeris Biopharma from $6.00 to $7.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Wall Street Zen downgraded Xeris Biopharma from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $6.25.

Xeris Biopharma Stock Down 0.5%

The company has a market capitalization of $831.16 million, a P/E ratio of -17.72 and a beta of 0.66. The business has a fifty day moving average price of $4.71 and a 200 day moving average price of $4.27.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.01. The firm had revenue of $57.80 million during the quarter, compared to the consensus estimate of $57.61 million. As a group, equities analysts forecast that Xeris Biopharma Holdings, Inc. will post -0.41 earnings per share for the current year.

Insider Activity at Xeris Biopharma

In other news, insider Kevin Mcculloch purchased 25,000 shares of the business's stock in a transaction dated Friday, June 13th. The shares were bought at an average cost of $4.38 per share, for a total transaction of $109,500.00. Following the completion of 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.47% of the stock is currently owned by company insiders.

Institutional Trading of Xeris Biopharma

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Xeris Biopharma by 2.7% in the first quarter. Vanguard Group Inc. now owns 8,109,644 shares of the company's stock valued at $44,522,000 after acquiring an additional 210,581 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Xeris Biopharma by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 3,351,426 shares of the company's stock valued at $11,364,000 after acquiring an additional 17,956 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Xeris Biopharma by 75.4% in the first quarter. Goldman Sachs Group Inc. now owns 2,790,014 shares of the company's stock valued at $15,317,000 after acquiring an additional 1,199,435 shares during the last quarter. AIGH Capital Management LLC increased its position in shares of Xeris Biopharma by 17.8% in the fourth quarter. AIGH Capital Management LLC now owns 2,574,846 shares of the company's stock valued at $8,729,000 after acquiring an additional 389,192 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Xeris Biopharma by 19.0% in the first quarter. Millennium Management LLC now owns 2,317,972 shares of the company's stock valued at $12,726,000 after acquiring an additional 369,420 shares during the last quarter. 42.75% of the stock is currently 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.