Oppenheimer Issues Positive Forecast for Xeris Biopharma (NASDAQ:XERS) Stock Price

Xeris Biopharma (NASDAQ:XERS) had its price target lifted by Oppenheimer from $6.00 to $7.00 in a research note released on Friday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Other equities analysts have also recently issued reports about the company. 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 restated a “buy” rating and issued a $6.00 target price (up from $4.00) on shares of Xeris Biopharma in a report on Wednesday, January 29th. HC Wainwright restated a “buy” rating and issued a $8.00 target price (up from $6.60) on shares of Xeris Biopharma in a report on Friday, March 7th. Piper Sandler restated a “neutral” rating and issued a $4.00 target price (up from $3.00) on shares of Xeris Biopharma in a report on Friday, March 7th. Finally, Craig Hallum lifted their target price on Xeris Biopharma from $5.00 to $6.50 and gave the stock a “buy” rating in a report on Friday, March 7th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Xeris Biopharma currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.25.

Xeris Biopharma Stock Performance

Shares of XERS stock opened at $5.03 on Friday. Xeris Biopharma has a 1 year low of $1.77 and a 1 year high of $6.07. The stock has a market cap of $786.62 million, a PE ratio of -11.18 and a beta of 1.10. The business’s fifty day moving average is $4.66 and its 200-day moving average is $3.86.

Xeris Biopharma (NASDAQ:XERS) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The firm had revenue of $57.80 million for the quarter, compared to analyst estimates of $57.61 million. Equities research analysts predict that Xeris Biopharma will post -0.41 earnings per share for the current year.

Insider Activity

In other news, insider Beth Hecht sold 40,000 shares of Xeris Biopharma 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 owns 1,353,510 shares in the company, valued at approximately $7,349,559.30. The trade was a 2.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.47% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Xeris Biopharma by 2.7% during the first quarter. Vanguard Group Inc. now owns 8,109,644 shares of the company’s stock valued at $44,522,000 after purchasing an additional 210,581 shares during the last quarter. Geode Capital Management LLC boosted its position in Xeris Biopharma by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 3,351,426 shares of the company’s stock valued at $11,364,000 after purchasing an additional 17,956 shares during the last quarter. AIGH Capital Management LLC boosted its position in Xeris Biopharma by 17.8% during the fourth quarter. AIGH Capital Management LLC now owns 2,574,846 shares of the company’s stock valued at $8,729,000 after purchasing an additional 389,192 shares during the last quarter. Renaissance Technologies LLC boosted its position in Xeris Biopharma by 31.3% during the fourth quarter. Renaissance Technologies LLC now owns 2,098,840 shares of the company’s stock valued at $7,115,000 after purchasing an additional 500,120 shares during the last quarter. Finally, Millennium Management LLC boosted its position in Xeris Biopharma by 34.8% during the fourth quarter. Millennium Management LLC now owns 1,948,552 shares of the company’s stock valued at $6,606,000 after purchasing an additional 502,853 shares during the last quarter. Hedge funds and other 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.