Xeris Biopharma (NASDAQ:XERS) Downgraded to “Neutral” Rating by Piper Sandler

Xeris Biopharma (NASDAQ:XERS) was downgraded by Piper Sandler from an “overweight” rating to a “neutral” rating in a research report issued on Monday, Marketbeat.com reports. They presently have a $3.00 price target on the stock. Piper Sandler’s price target would suggest a potential downside of 4.76% from the company’s current price.

Separately, HC Wainwright restated a “buy” rating and set a $6.00 price objective on shares of Xeris Biopharma in a research note on Thursday, August 15th.

Xeris Biopharma Stock Down 4.0 %

Shares of XERS stock opened at $3.15 on Monday. The company’s 50 day moving average is $2.98 and its 200 day moving average is $2.52. The firm has a market cap of $469.35 million, a price-to-earnings ratio of -7.00 and a beta of 2.70. Xeris Biopharma has a 52-week low of $1.46 and a 52-week high of $3.64.

Institutional Investors Weigh In On Xeris Biopharma

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Xeris Biopharma by 7.3% in the first quarter. Vanguard Group Inc. now owns 7,606,242 shares of the company’s stock valued at $16,810,000 after buying an additional 519,897 shares during the last quarter. NEA Management Company LLC purchased a new stake in Xeris Biopharma during the 1st quarter worth approximately $926,000. Renaissance Technologies LLC raised its holdings in shares of Xeris Biopharma by 33.9% in the second quarter. Renaissance Technologies LLC now owns 1,351,640 shares of the company’s stock worth $3,041,000 after buying an additional 342,300 shares during the last quarter. Rosalind Advisors Inc. lifted its stake in shares of Xeris Biopharma by 10.6% during the second quarter. Rosalind Advisors Inc. now owns 3,120,170 shares of the company’s stock worth $7,020,000 after buying an additional 300,000 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Xeris Biopharma during the third quarter valued at $237,000. 42.75% of the stock is currently 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.