Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) have earned an average recommendation of “Moderate Buy” from the eight research firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $10.0833.

XERS has been the subject of several analyst reports. Zacks Research lowered shares of Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of Xeris Biopharma in a research report on Friday, January 9th. Oppenheimer restated an “outperform” rating and issued a $18.00 target price on shares of Xeris Biopharma in a research note on Friday, November 7th. Piper Sandler upped their price target on Xeris Biopharma from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. Finally, Barclays initiated coverage on Xeris Biopharma in a report on Monday, December 8th. They set an “overweight” rating and a $9.00 price objective for the company.

Xeris Biopharma Trading Down 1.3%

Shares of NASDAQ XERS opened at $6.82 on Friday. Xeris Biopharma has a 12-month low of $3.51 and a 12-month high of $10.08. The stock’s fifty day simple moving average is $7.30 and its two-hundred day simple moving average is $7.59. The stock has a market capitalization of $1.13 billion, a PE ratio of -68.19 and a beta of 0.52.

Insiders Place Their Bets

In other Xeris Biopharma news, Director Barbara-Jean A. Bormann-Kennedy sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $7.09, for a total transaction of $106,350.00. Following the transaction, the director owned 142,500 shares in the company, valued at approximately $1,010,325. This represents a 9.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kevin Mcculloch sold 15,000 shares of the firm’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $8.00, for a total transaction of $120,000.00. Following the completion of the transaction, the insider directly owned 1,685,426 shares of the company’s stock, valued at approximately $13,483,408. This represents a 0.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 240,308 shares of company stock valued at $1,745,120. 6.47% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Xeris Biopharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC acquired a new stake in Xeris Biopharma during the 4th quarter worth about $25,000. Rafferty Asset Management LLC boosted its position in Xeris Biopharma by 93.5% in the fourth quarter. Rafferty Asset Management LLC now owns 33,689 shares of the company’s stock valued at $264,000 after buying an additional 16,278 shares during the last quarter. State Street Corp boosted its position in Xeris Biopharma by 10.1% in the fourth quarter. State Street Corp now owns 4,116,924 shares of the company’s stock valued at $32,318,000 after buying an additional 378,595 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Xeris Biopharma in the 4th quarter worth approximately $135,000. Finally, Caitong International Asset Management Co. Ltd raised its position in Xeris Biopharma by 9,276.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 7,501 shares of the company’s stock worth $59,000 after buying an additional 7,421 shares during the last quarter. Hedge funds and other institutional investors own 42.75% of the company’s stock.

About Xeris Biopharma

Xeris Biopharma is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies for endocrine and orphan diseases. The company’s proprietary formulation platform is designed to enable liquid stability of drugs that traditionally require reconstitution before injection. By eliminating the need for on-site mixing and simplifying administration, Xeris aims to improve patient safety, adherence, and convenience in high-need therapeutic areas.

The company’s flagship product, Gvoke, is a ready-to-use liquid glucagon autoinjector and prefilled syringe that has been approved by the U.S.