Xeris Biopharma (NASDAQ:XERS) Upgraded to Strong-Buy at Wall Street Zen

Key Points

• Xeris Biopharma has been upgraded from a "hold" rating to a "strong-buy" rating by Wall Street Zen, indicating increased confidence from analysts.
• Oppenheimer raised its price target for Xeris Biopharma from $6.00 to $7.00, suggesting potential for future growth.
• Insider Kevin McCulloch purchased 25,000 shares at an average cost of $4.38 each, reflecting insider confidence in the company's performance.

Wall Street Zen upgraded shares of Xeris Biopharma (NASDAQ:XERS - Free Report) from a hold rating to a strong-buy rating in a report issued on Saturday morning.

Separately, Oppenheimer raised their price objective on shares of Xeris Biopharma from $6.00 to $7.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $6.58.

Xeris Biopharma Price Performance

Shares of XERS stock traded up $0.12 during midday trading on Friday, reaching $7.32. 2,717,802 shares of the company traded hands, compared to its average volume of 2,566,255. The firm's 50 day simple moving average is $5.00 and its two-hundred day simple moving average is $4.62. Xeris Biopharma has a 1-year low of $2.28 and a 1-year high of $7.61. The firm has a market cap of $1.18 billion, a PE ratio of -34.85 and a beta of 0.65.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last posted its quarterly 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 company had revenue of $67.71 million for the quarter, compared to analyst estimates of $64.58 million. As a group, research analysts anticipate that Xeris Biopharma will post -0.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Xeris Biopharma

In other news, insider Kevin Mcculloch bought 25,000 shares of the stock in a transaction on Friday, June 13th. The stock was purchased at an average cost of $4.38 per share, with a total value of $109,500.00. Following the purchase, the insider owned 1,708,585 shares of the company's stock, valued at approximately $7,483,602.30. The trade was a 1.48% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 4.56% of the stock is currently owned by company insiders.

Institutional Trading of Xeris Biopharma

Several hedge funds and other institutional investors have recently bought and sold shares of XERS. Raymond James Financial Inc. purchased a new stake in Xeris Biopharma in the 4th quarter worth approximately $45,000. Vanguard Group Inc. grew its stake in Xeris Biopharma by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 7,899,063 shares of the company's stock worth $26,778,000 after acquiring an additional 133,738 shares during the period. Prudential Financial Inc. grew its stake in Xeris Biopharma by 23.4% in the 4th quarter. Prudential Financial Inc. now owns 36,945 shares of the company's stock worth $125,000 after acquiring an additional 7,000 shares during the period. JPMorgan Chase & Co. grew its stake in Xeris Biopharma by 166.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,043,441 shares of the company's stock worth $3,537,000 after acquiring an additional 651,481 shares during the period. Finally, Geode Capital Management LLC grew its stake in Xeris Biopharma by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,351,426 shares of the company's stock worth $11,364,000 after acquiring an additional 17,956 shares during the period. 42.75% of the stock is owned by hedge funds and other institutional investors.

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.