Xeris Biopharma (NASDAQ:XERS) Price Target Raised to $18.00

Xeris Biopharma (NASDAQ:XERS) had its target price upped by research analysts at Barclays from $14.00 to $18.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 11.83% from the stock’s previous close.

A number of other equities analysts have also commented on XERS. HC Wainwright lifted their price objective on Xeris Biopharma from $10.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, November 6th. Oppenheimer reissued an “outperform” rating and set a $21.00 target price (up from $18.00) on shares of Xeris Biopharma in a research report on Friday, November 6th. Wall Street Zen upgraded shares of Xeris Biopharma from a “buy” rating to a “strong-buy” rating in a report on Saturday. Piper Sandler restated a “neutral” rating and issued a $12.00 price target (up from $8.00) on shares of Xeris Biopharma in a research report on Friday, November 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xeris Biopharma in a research note on Wednesday, November 4th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Xeris Biopharma Stock Performance

Xeris Biopharma stock traded up $0.27 during midday trading on Wednesday, hitting $16.10. The company’s stock had a trading volume of 680,297 shares, compared to its average volume of 2,124,879. Xeris Biopharma has a 1-year low of $5.25 and a 1-year high of $16.42. The company has a debt-to-equity ratio of 3.89, a current ratio of 2.15 and a quick ratio of 1.02. The company has a 50-day moving average price of $9.92 and a two-hundred day moving average price of $7.70. The company has a market cap of $2.94 billion, a price-to-earnings ratio of -322.06 and a beta of 0.61.

Xeris Biopharma (NASDAQ:XERS) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. Xeris Biopharma had a positive return on equity of 147.75% and a negative net margin of 1.76%. The business had revenue of $107.23 million for the quarter, compared to the consensus estimate of $101.68 million. As a group, sell-side analysts predict that Xeris Biopharma will post 0.13 earnings per share for the current year.

Insider Activity

In other news, insider Steven Pieper sold 5,000 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $10.23, for a total transaction of $51,150.00. Following the completion of the sale, the insider directly owned 1,346,053 shares of the company’s stock, valued at $13,770,122.19. The trade was a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin McCulloch sold 25,000 shares of the company’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $12.49, for a total transaction of $312,250.00. Following the completion of the sale, the insider owned 1,559,208 shares in the company, valued at $19,474,507.92. This represents a 1.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 168,332 shares of company stock worth $1,678,971 over the last three months. 4.35% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Xeris Biopharma

Large investors have recently bought and sold shares of the stock. Chicago Partners Investment Group LLC grew its stake in shares of Xeris Biopharma by 16.3% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 13,286 shares of the company’s stock worth $136,000 after acquiring an additional 1,861 shares in the last quarter. AlphaCentric Advisors LLC lifted its position in shares of Xeris Biopharma by 4.2% during the third quarter. AlphaCentric Advisors LLC now owns 48,489 shares of the company’s stock valued at $464,000 after purchasing an additional 1,940 shares in the last quarter. Allworth Financial LP lifted its position in shares of Xeris Biopharma by 86.4% during the second quarter. Allworth Financial LP now owns 4,315 shares of the company’s stock valued at $34,000 after purchasing an additional 2,000 shares in the last quarter. Jacksonville Wealth Management LLC lifted its position in shares of Xeris Biopharma by 11.8% during the third quarter. Jacksonville Wealth Management LLC now owns 19,000 shares of the company’s stock valued at $182,000 after purchasing an additional 2,000 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in Xeris Biopharma by 7.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 33,266 shares of the company’s stock worth $332,000 after purchasing an additional 2,190 shares during the last quarter. 42.75% of the stock is currently owned by institutional investors.

About Xeris Biopharma

Xeris Biopharma is a commercial-stage biopharmaceutical company focused on developing and providing treatments for people with endocrine and other serious health conditions. Its products include Gvoke, a ready-to-use glucagon product for the treatment of severe hypoglycemia, and Recorlev, a treatment for adults with endogenous hypercortisolemia associated with Cushing syndrome when surgery is not an option or has not been curative. The company also develops drug-delivery technologies intended to make medicines easier to store and administer.