Xeris Biopharma (NASDAQ:XERS) Shares Up 4.9% – What’s Next?

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) shares traded up 4.9% during mid-day trading on Tuesday . The company traded as high as $4.33 and last traded at $4.37. 114,670 shares were traded during trading, a decline of 94% from the average session volume of 1,850,799 shares. The stock had previously closed at $4.16.

Analysts Set New Price Targets

Several research analysts have commented on XERS shares. Piper Sandler restated a “neutral” rating and issued a $4.00 target price (up previously from $3.00) on shares of Xeris Biopharma in a research note on Friday, March 7th. Jefferies Financial Group reaffirmed a “buy” rating and set a $6.00 target price (up previously from $4.00) on shares of Xeris Biopharma in a report on Wednesday, January 29th. HC Wainwright reissued a “buy” rating and issued a $8.00 price target (up from $6.60) on shares of Xeris Biopharma in a report on Friday, March 7th. Leerink Partners upped their price target on shares of Xeris Biopharma from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Friday, March 7th. Finally, Craig Hallum lifted their price objective on Xeris Biopharma from $5.00 to $6.50 and gave the company a “buy” rating in a research note on Friday, March 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Xeris Biopharma presently has a consensus rating of “Moderate Buy” and an average price target of $6.10.

Xeris Biopharma Price Performance

The firm’s 50 day simple moving average is $4.40 and its two-hundred day simple moving average is $3.67. The firm has a market capitalization of $661.94 million, a P/E ratio of -9.56 and a beta of 1.37.

Insider Activity at Xeris Biopharma

In other Xeris Biopharma news, insider Beth Hecht sold 40,000 shares of Xeris Biopharma stock in a transaction that occurred 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 of the company’s stock, valued at $7,349,559.30. The trade was a 2.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.56% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in Xeris Biopharma by 166.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,043,441 shares of the company’s stock valued at $3,537,000 after buying an additional 651,481 shares during the period. Driehaus Capital Management LLC purchased a new stake in shares of Xeris Biopharma during the fourth quarter worth about $2,014,000. Millennium Management LLC grew its stake in shares of Xeris Biopharma by 34.8% in the fourth quarter. Millennium Management LLC now owns 1,948,552 shares of the company’s stock worth $6,606,000 after purchasing an additional 502,853 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Xeris Biopharma by 31.3% during the 4th quarter. Renaissance Technologies LLC now owns 2,098,840 shares of the company’s stock valued at $7,115,000 after purchasing an additional 500,120 shares during the period. Finally, Parkman Healthcare Partners LLC raised its position in Xeris Biopharma by 465.0% during the 4th quarter. Parkman Healthcare Partners LLC now owns 578,511 shares of the company’s stock valued at $1,961,000 after purchasing an additional 476,118 shares during the last quarter. 42.75% of the stock is owned by hedge funds and other institutional investors.

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.