Xeris Biopharma (NASDAQ:XERS) Sets New 52-Week High – Here’s What Happened

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) shares reached a new 52-week high on Monday . The stock traded as high as $5.97 and last traded at $5.88, with a volume of 1014781 shares trading hands. The stock had previously closed at $5.81.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on XERS shares. HC Wainwright restated a “buy” rating and issued a $8.00 price objective (up previously from $6.60) on shares of Xeris Biopharma in a research note on Friday, March 7th. Leerink Partners upped their price objective on shares of Xeris Biopharma from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Friday, March 7th. Piper Sandler reissued a “neutral” rating and set a $4.00 target price (up from $3.00) on shares of Xeris Biopharma in a research report on Friday, March 7th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $6.00 price target (up previously from $4.00) on shares of Xeris Biopharma in a report on Wednesday, January 29th. Finally, Craig Hallum lifted their price objective on Xeris Biopharma from $5.00 to $6.50 and gave the stock a “buy” rating in a report on Friday, March 7th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Xeris Biopharma presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.92.

Xeris Biopharma Stock Performance

The firm has a 50 day moving average price of $3.99 and a two-hundred day moving average price of $3.46. The company has a market capitalization of $903.63 million, a P/E ratio of -13.04 and a beta of 2.32.

Insider Activity at Xeris Biopharma

In related news, insider Beth Hecht sold 40,000 shares of Xeris Biopharma stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $5.43, for a total transaction of $217,200.00. Following the completion of the transaction, the insider now directly owns 1,353,510 shares of the company’s stock, valued at $7,349,559.30. This trade represents a 2.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of XERS. Wealth Enhancement Advisory Services LLC raised its position in Xeris Biopharma by 31.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,268 shares of the company’s stock valued at $55,000 after purchasing an additional 3,847 shares during the last quarter. Mackenzie Financial Corp lifted its position in Xeris Biopharma by 446.0% during the 4th quarter. Mackenzie Financial Corp now owns 129,952 shares of the company’s stock worth $441,000 after buying an additional 106,153 shares in the last quarter. Squarepoint Ops LLC grew its holdings in Xeris Biopharma by 118.2% during the 4th quarter. Squarepoint Ops LLC now owns 40,769 shares of the company’s stock worth $138,000 after acquiring an additional 22,084 shares during the last quarter. Two Sigma Advisers LP acquired a new stake in Xeris Biopharma in the 4th quarter valued at about $47,000. Finally, Stonepine Capital Management LLC bought a new position in shares of Xeris Biopharma in the fourth quarter worth about $618,000. 42.75% of the stock is owned by institutional investors and hedge funds.

Xeris Biopharma Company Profile

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.