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Xeris Biopharma (NASDAQ:XERS) Stock Price Up 7.4% - Here's What Happened

Xeris Biopharma logo with Medical background

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

Wall Street Analyst Weigh In

Several research firms have commented on XERS. Oppenheimer boosted 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 cut Xeris Biopharma from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $6.25.

Get Our Latest Analysis on Xeris Biopharma

Xeris Biopharma Price Performance

The stock has a market capitalization of $799.10 million, a price-to-earnings ratio of -17.03 and a beta of 0.66. The business has a fifty day moving average of $4.74 and a 200 day moving average of $4.30.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.01. The business had revenue of $57.80 million during the quarter, compared to analyst estimates of $57.61 million. On average, equities research analysts expect that Xeris Biopharma Holdings, Inc. will post -0.41 EPS for the current year.

Insider Activity

In other news, insider Kevin Mcculloch bought 25,000 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The shares were purchased at an average price of $4.38 per share, with a total value of $109,500.00. Following the purchase, the insider owned 1,708,585 shares in the company, valued at approximately $7,483,602.30. The trade was a 1.48% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 6.47% of the company's stock.

Hedge Funds Weigh In On Xeris Biopharma

Several hedge funds have recently bought and sold shares of the company. Rhumbline Advisers increased its holdings in Xeris Biopharma by 6.3% during the 1st quarter. Rhumbline Advisers now owns 192,281 shares of the company's stock worth $1,056,000 after purchasing an additional 11,317 shares during the period. Strs Ohio purchased a new stake in Xeris Biopharma during the 1st quarter worth about $334,000. Acadian Asset Management LLC purchased a new stake in Xeris Biopharma during the 1st quarter worth about $96,000. Caxton Associates LLP purchased a new stake in Xeris Biopharma during the 1st quarter worth about $170,000. Finally, Fred Alger Management LLC purchased a new position in shares of Xeris Biopharma in the 1st quarter valued at about $736,000. Institutional investors and hedge funds own 42.75% of the company's stock.

About Xeris Biopharma

(Get Free Report)

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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