Xeris Biopharma (NASDAQ:XERS) Hits New 12-Month High – Time to Buy?

Shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $3.89 and last traded at $3.88, with a volume of 2500599 shares changing hands. The stock had previously closed at $3.59.

Analyst Ratings Changes

XERS has been the topic of a number of research analyst reports. HC Wainwright upped their target price on shares of Xeris Biopharma from $6.00 to $6.60 and gave the company a “buy” rating in a report on Monday, November 11th. Piper Sandler cut shares of Xeris Biopharma from an “overweight” rating to a “neutral” rating and set a $3.00 target price on the stock. in a report on Monday, November 11th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $6.00 target price (up from $4.00) on shares of Xeris Biopharma in a report on Wednesday, January 29th.

Xeris Biopharma Stock Performance

The company has a market capitalization of $591.85 million, a P/E ratio of -8.82 and a beta of 2.61. The stock’s fifty day moving average price is $3.48 and its 200-day moving average price is $3.14.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of XERS. Walleye Capital LLC bought a new position in Xeris Biopharma in the 3rd quarter valued at about $3,197,000. JPMorgan Chase & Co. raised its holdings in Xeris Biopharma by 166.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,043,441 shares of the company’s stock valued at $3,537,000 after acquiring an additional 651,481 shares during the period. Driehaus Capital Management LLC bought a new position in Xeris Biopharma in the 4th quarter valued at about $2,014,000. Millennium Management LLC raised its holdings in Xeris Biopharma by 34.8% in the 4th quarter. Millennium Management LLC now owns 1,948,552 shares of the company’s stock valued at $6,606,000 after acquiring an additional 502,853 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Xeris Biopharma by 31.3% in the 4th quarter. Renaissance Technologies LLC now owns 2,098,840 shares of the company’s stock valued at $7,115,000 after acquiring an additional 500,120 shares during the period. 42.75% of the stock is owned by 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.