Xeris Biopharma (NASDAQ:XERS) Trading Up 4.9% – Here’s Why

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) was up 4.9% on Friday . The company traded as high as $5.77 and last traded at $5.70. Approximately 922,095 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 1,640,261 shares. The stock had previously closed at $5.43.

Analyst Upgrades and Downgrades

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

Xeris Biopharma Stock Up 7.3 %

The business has a 50-day moving average price of $3.83 and a 200-day moving average price of $3.38. The firm has a market capitalization of $896.55 million, a PE ratio of -12.99 and a beta of 2.32.

Institutional Investors Weigh In On Xeris Biopharma

Large investors have recently made changes to their positions in the stock. Legato Capital Management LLC purchased a new stake in shares of Xeris Biopharma in the fourth quarter valued at approximately $482,000. Barclays PLC grew its position in shares of Xeris Biopharma by 87.8% in the third quarter. Barclays PLC now owns 324,472 shares of the company’s stock valued at $925,000 after purchasing an additional 151,685 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Xeris Biopharma by 2.9% in the third quarter. Geode Capital Management LLC now owns 3,333,470 shares of the company’s stock valued at $9,502,000 after purchasing an additional 93,091 shares in the last quarter. Principal Financial Group Inc. grew its position in Xeris Biopharma by 30.3% in the third quarter. Principal Financial Group Inc. now owns 102,469 shares of the company’s stock worth $292,000 after acquiring an additional 23,843 shares during the period. Finally, Quantbot Technologies LP purchased a new position in Xeris Biopharma in the third quarter worth approximately $44,000. 42.75% of the stock is currently owned by hedge funds and other institutional investors.

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.