Xeris Biopharma (NASDAQ:XERS) Hits New 12-Month High – Time to Buy?

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) shares hit a new 52-week high on Tuesday . The company traded as high as $10.02 and last traded at $9.9950, with a volume of 832647 shares trading hands. The stock had previously closed at $9.90.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on XERS shares. Wall Street Zen raised shares of Xeris Biopharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 18th. HC Wainwright started coverage on shares of Xeris Biopharma in a research note on Tuesday, August 12th. They issued a “buy” rating and a $10.00 target price on the stock. Leerink Partners raised their target price on shares of Xeris Biopharma from $7.00 to $9.00 and gave the company an “outperform” rating in a research note on Tuesday, August 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xeris Biopharma in a research note on Wednesday, October 8th. Finally, Zacks Research cut shares of Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $8.92.

Xeris Biopharma Stock Up 0.1%

The stock has a market cap of $1.60 billion, a P/E ratio of -47.18 and a beta of 0.21. The firm’s fifty day moving average price is $8.33 and its 200-day moving average price is $6.27.

Xeris Biopharma (NASDAQ:XERS) last issued its earnings results on Thursday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.02. The firm had revenue of $67.71 million during the quarter, compared to the consensus estimate of $64.58 million. Sell-side analysts predict that Xeris Biopharma Holdings, Inc. will post -0.41 earnings per share for the current year.

Insider Activity

In other Xeris Biopharma news, Director Marla Persky sold 15,500 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $7.72, for a total value of $119,660.00. Following the sale, the director owned 142,000 shares in the company, valued at $1,096,240. The trade was a 9.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dawn Halkuff sold 42,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $7.28, for a total value of $309,400.00. Following the sale, the director owned 115,000 shares in the company, valued at approximately $837,200. This trade represents a 26.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 207,732 shares of company stock valued at $1,550,437 over the last ninety days. 4.56% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of XERS. AlphaQuest LLC purchased a new position in Xeris Biopharma during the 3rd quarter valued at $35,000. Xponance Inc. bought a new position in shares of Xeris Biopharma in the 1st quarter worth $57,000. FORA Capital LLC bought a new position in shares of Xeris Biopharma during the 1st quarter worth approximately $60,000. State of Alaska Department of Revenue acquired a new stake in shares of Xeris Biopharma in the 3rd quarter worth $68,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Xeris Biopharma by 913.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 17,395 shares of the company’s stock valued at $81,000 after purchasing an additional 15,678 shares during the last quarter. 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.