Wall Street Zen Upgrades Xeris Biopharma (NASDAQ:XERS) to “Strong-Buy”

Xeris Biopharma (NASDAQ:XERS) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

Several other research firms have also recently commented on XERS. Weiss Ratings restated a “sell (d-)” rating on shares of Xeris Biopharma in a report on Wednesday, October 8th. Leerink Partners lifted their price target on Xeris Biopharma from $7.00 to $9.00 and gave the company an “outperform” rating in a report on Tuesday, August 19th. Zacks Research upgraded Xeris Biopharma from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Finally, HC Wainwright assumed coverage on Xeris Biopharma in a report on Tuesday, August 12th. They issued a “buy” rating and a $10.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.08.

Xeris Biopharma Price Performance

XERS opened at $9.24 on Friday. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of -44.00 and a beta of 0.39. The business has a 50-day moving average of $7.90 and a two-hundred day moving average of $5.86. Xeris Biopharma has a 12 month low of $2.82 and a 12 month high of $9.41.

Xeris Biopharma (NASDAQ:XERS) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.02. The business had revenue of $67.71 million during the quarter, compared to analysts’ expectations of $64.58 million. Equities research analysts anticipate that Xeris Biopharma will post -0.41 earnings per share for the current year.

Insider Transactions at Xeris Biopharma

In other news, Director Marla Persky sold 15,500 shares of Xeris Biopharma stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $7.72, for a total value of $119,660.00. Following the transaction, the director directly owned 142,000 shares of the company’s stock, valued at $1,096,240. The trade was a 9.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John Johnson sold 107,500 shares of Xeris Biopharma stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $7.32, for a total value of $786,900.00. Following the completion of the transaction, the director directly owned 833,483 shares in the company, valued at $6,101,095.56. This represents a 11.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 207,732 shares of company stock valued at $1,550,437. 4.56% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Xeris Biopharma

Several hedge funds and other institutional investors have recently bought and sold shares of XERS. Xponance Inc. acquired a new position in Xeris Biopharma during the 1st quarter worth approximately $57,000. FORA Capital LLC acquired a new position in Xeris Biopharma during the 1st quarter worth approximately $60,000. Tower Research Capital LLC TRC lifted its position in Xeris Biopharma by 913.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 17,395 shares of the company’s stock worth $81,000 after acquiring an additional 15,678 shares in the last quarter. Modern Wealth Management LLC acquired a new position in Xeris Biopharma during the 2nd quarter worth approximately $83,000. Finally, R Squared Ltd lifted its position in Xeris Biopharma by 27.7% during the 1st quarter. R Squared Ltd now owns 15,730 shares of the company’s stock worth $86,000 after acquiring an additional 3,410 shares in the last quarter. 42.75% of the stock is owned by institutional investors and hedge funds.

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.