Xeris Biopharma (NASDAQ:XERS) Receives Buy Rating from HC Wainwright

Xeris Biopharma (NASDAQ:XERS)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They presently have a $10.00 price target on the stock. HC Wainwright’s price objective would suggest a potential upside of 64.55% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the stock. Wall Street Zen downgraded shares of Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xeris Biopharma in a research note on Wednesday, January 21st. Oppenheimer reiterated an “outperform” rating and set a $18.00 target price on shares of Xeris Biopharma in a research report on Friday, November 7th. Piper Sandler raised their price objective on Xeris Biopharma from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th. Finally, Barclays began coverage on Xeris Biopharma in a research report on Monday, December 8th. They set an “overweight” rating and a $9.00 price objective on the stock. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.08.

Xeris Biopharma Price Performance

Xeris Biopharma stock traded down $0.04 during mid-day trading on Monday, reaching $6.08. The stock had a trading volume of 2,360,539 shares, compared to its average volume of 1,991,403. Xeris Biopharma has a one year low of $3.59 and a one year high of $10.08. The company has a 50-day moving average price of $7.23 and a two-hundred day moving average price of $7.64. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -61.31 and a beta of 0.52.

Insider Activity

In related news, Director Barbara-Jean A. Bormann-Kennedy sold 15,000 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $7.09, for a total value of $106,350.00. Following the completion of the transaction, the director directly owned 142,500 shares of the company’s stock, valued at approximately $1,010,325. This trade represents a 9.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Patrick Shannon, Jr. sold 24,907 shares of Xeris Biopharma stock in a transaction on Monday, January 5th. The stock was sold at an average price of $7.08, for a total transaction of $176,341.56. Following the completion of the transaction, the insider directly owned 2,705,346 shares of the company’s stock, valued at $19,153,849.68. The trade was a 0.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 223,641 shares of company stock worth $1,628,285. 6.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Xeris Biopharma

Institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada boosted its stake in shares of Xeris Biopharma by 1,411.2% during the first quarter. Royal Bank of Canada now owns 213,084 shares of the company’s stock valued at $1,170,000 after purchasing an additional 198,984 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Xeris Biopharma by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,982 shares of the company’s stock valued at $461,000 after acquiring an additional 3,594 shares in the last quarter. Millennium Management LLC boosted its position in Xeris Biopharma by 19.0% during the 1st quarter. Millennium Management LLC now owns 2,317,972 shares of the company’s stock valued at $12,726,000 after acquiring an additional 369,420 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Xeris Biopharma by 75.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,790,014 shares of the company’s stock valued at $15,317,000 after acquiring an additional 1,199,435 shares during the period. Finally, Caxton Associates LLP bought a new position in shares of Xeris Biopharma in the 1st quarter worth $170,000. 42.75% of the stock is owned by institutional investors.

About Xeris Biopharma

Xeris Biopharma is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies for endocrine and orphan diseases. The company’s proprietary formulation platform is designed to enable liquid stability of drugs that traditionally require reconstitution before injection. By eliminating the need for on-site mixing and simplifying administration, Xeris aims to improve patient safety, adherence, and convenience in high-need therapeutic areas.

The company’s flagship product, Gvoke, is a ready-to-use liquid glucagon autoinjector and prefilled syringe that has been approved by the U.S.