Xeris Biopharma (NASDAQ:XERS) Stock Price Up 4.9% – Time to Buy?

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

Analyst Ratings Changes

A number of brokerages recently weighed in on XERS. Piper Sandler reiterated a “neutral” rating and issued a $4.00 price target (up from $3.00) on shares of Xeris Biopharma in a research report on Friday, March 7th. 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 report on Friday, March 7th. Leerink Partners lifted their target price on Xeris Biopharma from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Friday, March 7th. Jefferies Financial Group reiterated a “buy” rating and issued a $6.00 target price (up previously from $4.00) on shares of Xeris Biopharma in a research report on Wednesday, January 29th. Finally, Craig Hallum boosted their price target on Xeris Biopharma from $5.00 to $6.50 and gave the stock a “buy” rating in a report on Friday, March 7th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $5.92.

Xeris Biopharma Price Performance

The stock has a market capitalization of $894.39 million, a PE ratio of -12.91 and a beta of 2.32. The company has a 50 day moving average price of $3.88 and a 200-day moving average price of $3.41.

Insiders Place Their Bets

In other news, insider Beth Hecht sold 40,000 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $5.43, for a total transaction of $217,200.00. Following the transaction, the insider now directly owns 1,353,510 shares of the company’s stock, valued at $7,349,559.30. This represents a 2.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 4.56% of the company’s stock.

Institutional Investors Weigh In On Xeris Biopharma

Several hedge funds and other institutional investors have recently modified their holdings of XERS. Vanguard Group Inc. raised its stake in Xeris Biopharma by 1.7% during 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. Geode Capital Management LLC raised its holdings in shares of Xeris Biopharma by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 3,351,426 shares of the company’s stock valued at $11,364,000 after acquiring an additional 17,956 shares in the last quarter. AIGH Capital Management LLC raised its holdings in Xeris Biopharma by 17.8% in the fourth quarter. AIGH Capital Management LLC now owns 2,574,846 shares of the company’s stock worth $8,729,000 after purchasing an additional 389,192 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Xeris Biopharma by 31.3% in the fourth quarter. Renaissance Technologies LLC now owns 2,098,840 shares of the company’s stock worth $7,115,000 after purchasing an additional 500,120 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Xeris Biopharma by 34.8% during the fourth quarter. Millennium Management LLC now owns 1,948,552 shares of the company’s stock worth $6,606,000 after acquiring an additional 502,853 shares during the last quarter. 42.75% of the stock is currently owned by hedge funds and other institutional investors.

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.