Xeris Biopharma (NASDAQ:XERS) Trading Up 4.9% – Here’s Why

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS)’s share price was up 4.9% on Friday . The stock traded as high as $5.77 and last traded at $5.70. Approximately 922,095 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 1,640,261 shares. The stock had previously closed at $5.43.

Analysts Set New Price Targets

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

Xeris Biopharma Price Performance

The business has a 50 day simple moving average of $3.83 and a 200 day simple moving average of $3.38. The company has a market capitalization of $896.55 million, a price-to-earnings ratio of -12.99 and a beta of 2.32.

Institutional Trading of Xeris Biopharma

Hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC acquired a new stake in shares of Xeris Biopharma in the fourth quarter valued at $34,000. R Squared Ltd acquired a new stake in shares of Xeris Biopharma in the fourth quarter valued at $42,000. Cibc World Markets Corp acquired a new stake in shares of Xeris Biopharma in the fourth quarter valued at $44,000. Raymond James Financial Inc. acquired a new stake in shares of Xeris Biopharma in the fourth quarter valued at $45,000. Finally, Two Sigma Advisers LP acquired a new stake in shares of Xeris Biopharma in the fourth quarter valued at $47,000. 42.75% of the stock is currently owned by institutional investors and hedge funds.

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.