Xeris Biopharma (NASDAQ:XERS) Upgraded at HC Wainwright

Key Points

• HC Wainwright has reaffirmed a "buy" rating for Xeris Biopharma (XERS) with a price target of $10.00, indicating a potential upside of 38.89% from the current price.
• In the first quarter, several large investors significantly increased their stakes in Xeris Biopharma, with notable boosts from Goldman Sachs and Invesco, leading to institutional ownership reaching 42.75%.
• Xeris Biopharma recently reported quarterly earnings, beating expectations by posting ($0.01) earnings per share against a consensus estimate of ($0.03) and generating revenue of $67.71 million.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) was upgraded by analysts at HC Wainwright to a "buy" rating in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The brokerage currently has a $10.00 price objective on the stock. HC Wainwright's price target would suggest a potential upside of 37.46% from the company's current price.

A number of other research firms have also recently commented on XERS. Wall Street Zen raised shares of Xeris Biopharma from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Oppenheimer upped their price target on shares of Xeris Biopharma from $6.00 to $7.00 and gave the company an "outperform" rating in a report on Friday, May 9th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Xeris Biopharma presently has an average rating of "Buy" and an average price target of $6.58.

Xeris Biopharma Trading Down 0.3%

NASDAQ XERS opened at $7.28 on Tuesday. The company's fifty day simple moving average is $5.11 and its 200-day simple moving average is $4.65. Xeris Biopharma has a 52 week low of $2.39 and a 52 week high of $7.61. The stock has a market cap of $1.17 billion, a P/E ratio of -34.64 and a beta of 0.65.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.01) EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.02. The firm had revenue of $67.71 million for the quarter, compared to analyst estimates of $64.58 million. On average, research analysts expect that Xeris Biopharma will post -0.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other Xeris Biopharma news, insider Kevin Mcculloch bought 25,000 shares of the company's stock in a transaction on Friday, June 13th. The shares were bought at an average cost of $4.38 per share, with a total value of $109,500.00. Following the completion of the acquisition, the insider owned 1,708,585 shares of the company's stock, valued at approximately $7,483,602.30. This trade represents a 1.48% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dawn Halkuff sold 42,500 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $7.28, for a total transaction of $309,400.00. Following the sale, the director directly owned 115,000 shares in the company, valued at $837,200. This trade represents a 26.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.47% of the stock is currently owned by corporate insiders.

Institutional Trading of Xeris Biopharma

Institutional investors and hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC acquired a new stake in shares of Xeris Biopharma during the fourth quarter worth $34,000. Raymond James Financial Inc. bought a new position in shares of Xeris Biopharma during the fourth quarter worth about $45,000. Two Sigma Advisers LP bought a new position in shares of Xeris Biopharma during the fourth quarter worth about $47,000. Aquatic Capital Management LLC bought a new position in shares of Xeris Biopharma during the fourth quarter worth about $50,000. Finally, Apella Capital LLC bought a new position in shares of Xeris Biopharma during the first quarter worth about $55,000. 42.75% of the stock is owned by institutional investors and hedge funds.

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.