Xeris Biopharma (NASDAQ:XERS) Hits New 12-Month High – Here’s What Happened

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $4.68 and last traded at $4.39, with a volume of 4430709 shares trading hands. The stock had previously closed at $4.59.

Analysts Set New Price Targets

XERS has been the subject of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $8.00 price target (up previously from $6.60) on shares of Xeris Biopharma in a research note on Friday, March 7th. Piper Sandler reiterated a “neutral” rating and set a $4.00 price target (up from $3.00) on shares of Xeris Biopharma in a research report on Friday, March 7th. Leerink Partners upped their price objective on shares of Xeris Biopharma from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Friday, March 7th. Craig Hallum raised their price target on Xeris Biopharma from $5.00 to $6.50 and gave the stock a “buy” rating in a research report on Friday, March 7th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $6.00 price target (up previously from $4.00) on shares of Xeris Biopharma in a report on Wednesday, January 29th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $5.92.

Xeris Biopharma Stock Performance

The company has a 50-day simple moving average of $3.64 and a two-hundred day simple moving average of $3.29. The firm has a market capitalization of $679.81 million, a P/E ratio of -10.13 and a beta of 2.32.

Hedge Funds Weigh In On Xeris Biopharma

A number of institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC purchased a new stake in shares of Xeris Biopharma in the 4th quarter worth about $34,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Xeris Biopharma in the third quarter worth about $35,000. R Squared Ltd bought a new position in shares of Xeris Biopharma during the fourth quarter valued at approximately $42,000. Quantbot Technologies LP purchased a new position in shares of Xeris Biopharma during the third quarter valued at approximately $44,000. Finally, Cibc World Markets Corp purchased a new position in shares of Xeris Biopharma during the fourth quarter valued at approximately $44,000. Institutional investors own 42.75% of the company’s stock.

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.