Xeris Biopharma (NASDAQ:XERS) Sets New 12-Month High – Still a Buy?

Shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) reached a new 52-week high on Tuesday . The stock traded as high as $5.07 and last traded at $5.03, with a volume of 3355595 shares. The stock had previously closed at $4.82.

Wall Street Analyst Weigh In

Several research firms recently commented on XERS. Leerink Partners increased their price objective on Xeris Biopharma from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Friday, March 7th. Piper Sandler reaffirmed a “neutral” rating and set a $4.00 price target (up previously from $3.00) on shares of Xeris Biopharma in a report on Friday, March 7th. Jefferies Financial Group reissued a “buy” rating and set a $6.00 price objective (up from $4.00) on shares of Xeris Biopharma in a report on Wednesday, January 29th. HC Wainwright restated a “buy” rating and issued a $8.00 target price (up previously from $6.60) on shares of Xeris Biopharma in a report on Friday, March 7th. Finally, Craig Hallum boosted their target price on shares of Xeris Biopharma from $5.00 to $6.50 and gave the company a “buy” rating in a research note on Friday, March 7th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.92.

Xeris Biopharma Trading Up 4.4 %

The company’s 50 day moving average price is $3.71 and its two-hundred day moving average price is $3.34. The firm has a market cap of $774.32 million, a PE ratio of -11.18 and a beta of 2.32.

Institutional Trading of Xeris Biopharma

Several hedge funds have recently bought and sold shares of the stock. Walleye Capital LLC purchased a new position in shares of Xeris Biopharma during the 3rd quarter valued at about $3,197,000. JPMorgan Chase & Co. raised its stake in Xeris Biopharma by 166.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,043,441 shares of the company’s stock worth $3,537,000 after acquiring an additional 651,481 shares during the period. Driehaus Capital Management LLC purchased a new position in Xeris Biopharma during the fourth quarter valued at approximately $2,014,000. Millennium Management LLC boosted its position 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 period. Finally, Renaissance Technologies LLC increased its stake in shares of Xeris Biopharma by 31.3% in the fourth quarter. Renaissance Technologies LLC now owns 2,098,840 shares of the company’s stock worth $7,115,000 after purchasing an additional 500,120 shares in the last quarter. Institutional investors own 42.75% of the company’s stock.

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.