Xeris Biopharma (NASDAQ:XERS) Shares Gap Up – Should You Buy?

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) shares gapped up prior to trading on Wednesday . The stock had previously closed at $7.31, but opened at $7.89. Xeris Biopharma shares last traded at $8.0450, with a volume of 1,581,185 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on XERS shares. HC Wainwright restated a “buy” rating and set a $10.00 target price on shares of Xeris Biopharma in a report on Friday, November 7th. Piper Sandler increased their price objective on Xeris Biopharma from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Barclays initiated coverage on shares of Xeris Biopharma in a report on Monday, December 8th. They issued an “overweight” rating and a $9.00 target price on the stock. Wall Street Zen lowered shares of Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Zacks Research lowered shares of Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.50.

Xeris Biopharma Stock Performance

The company’s 50-day moving average price is $7.66 and its 200 day moving average price is $7.03. The stock has a market capitalization of $1.32 billion, a PE ratio of -79.93 and a beta of 0.58.

Xeris Biopharma (NASDAQ:XERS) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.01). The company had revenue of $74.38 million for the quarter, compared to the consensus estimate of $74.19 million. Analysts expect that Xeris Biopharma Holdings, Inc. will post -0.41 earnings per share for the current year.

Insider Transactions at Xeris Biopharma

In other Xeris Biopharma news, insider Beth Hecht sold 16,667 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $7.01, for a total transaction of $116,835.67. Following the completion of the transaction, the insider owned 1,320,176 shares of the company’s stock, valued at approximately $9,254,433.76. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John Patrick Shannon, Jr. sold 23,242 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $7.46, for a total transaction of $173,385.32. Following the sale, the insider owned 2,643,153 shares in the company, valued at approximately $19,717,921.38. This trade represents a 0.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 206,976 shares of company stock worth $1,497,495. 4.56% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of XERS. Geode Capital Management LLC boosted its stake in Xeris Biopharma by 7.2% during the second quarter. Geode Capital Management LLC now owns 3,650,688 shares of the company’s stock worth $17,052,000 after acquiring an additional 244,862 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Xeris Biopharma by 6.0% during the third quarter. Qube Research & Technologies Ltd now owns 3,274,834 shares of the company’s stock valued at $26,657,000 after purchasing an additional 185,063 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Xeris Biopharma by 75.4% during the first quarter. Goldman Sachs Group Inc. now owns 2,790,014 shares of the company’s stock valued at $15,317,000 after purchasing an additional 1,199,435 shares during the last quarter. Millennium Management LLC boosted its position in shares of Xeris Biopharma by 19.0% in the 1st quarter. Millennium Management LLC now owns 2,317,972 shares of the company’s stock worth $12,726,000 after purchasing an additional 369,420 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Xeris Biopharma by 27.8% in the 2nd quarter. Legal & General Group Plc now owns 1,804,203 shares of the company’s stock worth $8,426,000 after buying an additional 392,589 shares during the last quarter. 42.75% of the stock is owned by hedge funds and other institutional investors.

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.