Oppenheimer Forecasts Strong Price Appreciation for Xeris Biopharma (NASDAQ:XERS) Stock

Xeris Biopharma (NASDAQ:XERS) had its target price increased by Oppenheimer from $6.00 to $7.00 in a report published on Friday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Other equities research analysts have also issued research reports about the stock. Craig Hallum lifted their price objective on shares of Xeris Biopharma from $5.00 to $6.50 and gave the company a “buy” rating in a research note on Friday, March 7th. HC Wainwright reiterated a “buy” rating and set a $8.00 price target (up previously from $6.60) on shares of Xeris Biopharma in a research note on Friday, March 7th. Jefferies Financial Group reissued a “buy” rating and issued a $6.00 price objective (up from $4.00) on shares of Xeris Biopharma in a research note on Wednesday, January 29th. Leerink Partners upped their target price on Xeris Biopharma from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Friday, March 7th. Finally, Piper Sandler reissued a “neutral” rating and issued a $4.00 price target (up previously from $3.00) on shares of Xeris Biopharma in a research report on Friday, March 7th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $6.25.

Xeris Biopharma Stock Performance

Xeris Biopharma stock opened at $5.03 on Friday. The company has a 50 day moving average price of $4.66 and a 200 day moving average price of $3.85. Xeris Biopharma has a 52 week low of $1.73 and a 52 week high of $6.07. The firm has a market capitalization of $786.62 million, a price-to-earnings ratio of -11.18 and a beta of 1.10.

Xeris Biopharma (NASDAQ:XERS) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $57.80 million for the quarter, compared to analysts’ expectations of $57.61 million. Equities analysts forecast that Xeris Biopharma will post -0.41 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Beth Hecht sold 40,000 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $5.43, for a total value of $217,200.00. Following the transaction, the insider now directly owns 1,353,510 shares in the company, valued at $7,349,559.30. This trade represents a 2.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.47% of the stock is owned by insiders.

Institutional Investors Weigh In On Xeris Biopharma

Hedge funds have recently bought and sold shares of the company. Barclays PLC grew its stake in 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 acquiring an additional 151,685 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Xeris Biopharma by 20.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 391,960 shares of the company’s stock valued at $1,117,000 after purchasing an additional 67,557 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Xeris Biopharma by 57.3% in the 4th quarter. SG Americas Securities LLC now owns 94,671 shares of the company’s stock valued at $321,000 after purchasing an additional 34,469 shares during the period. Janney Montgomery Scott LLC increased its stake in Xeris Biopharma by 31.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 23,000 shares of the company’s stock worth $78,000 after purchasing an additional 5,500 shares in the last quarter. Finally, Goldstein Advisors LLC raised its holdings in Xeris Biopharma by 24.2% during the 4th quarter. Goldstein Advisors LLC now owns 37,800 shares of the company’s stock worth $128,000 after buying an additional 7,375 shares during the period. 42.75% of the stock is currently 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.