Xeris Biopharma (NASDAQ:XERS) Now Covered by Analysts at Barclays

Barclays initiated coverage on shares of Xeris Biopharma (NASDAQ:XERS) in a report issued on Monday morning, Marketbeat Ratings reports. The firm issued an overweight rating and a $9.00 target price on the stock.

Several other equities research analysts have also weighed in on the company. Piper Sandler upped their price objective on Xeris Biopharma from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Zacks Research lowered Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. HC Wainwright reiterated a “buy” rating and issued a $10.00 price target on shares of Xeris Biopharma in a research report on Friday, November 7th. Leerink Partners lifted their price objective on Xeris Biopharma from $7.00 to $9.00 and gave the company an “outperform” rating in a report on Tuesday, August 19th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xeris Biopharma in a report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $9.50.

Xeris Biopharma Stock Performance

Shares of XERS stock opened at $7.01 on Monday. The firm has a fifty day moving average of $8.05 and a 200-day moving average of $6.77. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -70.09 and a beta of 0.57. Xeris Biopharma has a 52-week low of $3.14 and a 52-week high of $10.08.

Xeris Biopharma (NASDAQ:XERS) last issued its earnings results on Thursday, November 6th. The company reported $0.00 earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.01). The firm had revenue of $74.38 million for the quarter, compared to analyst estimates of $74.19 million. On average, sell-side analysts predict that Xeris Biopharma will post -0.41 earnings per share for the current year.

Insider Transactions at Xeris Biopharma

In other news, Director Marla Persky sold 15,500 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $7.72, for a total value of $119,660.00. Following the completion of the sale, the director directly owned 142,000 shares in the company, valued at approximately $1,096,240. This trade represents a 9.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider John Patrick Shannon, Jr. sold 23,242 shares of the company’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $7.46, for a total transaction of $173,385.32. Following the transaction, the insider owned 2,643,153 shares in the company, valued at approximately $19,717,921.38. This trade represents a 0.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 72,076 shares of company stock worth $533,217. Insiders own 4.56% of the company’s stock.

Hedge Funds Weigh In On Xeris Biopharma

Large investors have recently modified their holdings of the stock. Nuveen LLC bought a new stake in shares of Xeris Biopharma during the first quarter valued at approximately $12,240,000. UBS Group AG lifted its holdings in Xeris Biopharma by 682.4% during the 3rd quarter. UBS Group AG now owns 1,782,734 shares of the company’s stock worth $14,511,000 after buying an additional 1,554,869 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in Xeris Biopharma by 67.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 3,089,771 shares of the company’s stock valued at $14,429,000 after buying an additional 1,245,188 shares during the last quarter. Parkman Healthcare Partners LLC increased its stake in shares of Xeris Biopharma by 207.8% in the 1st quarter. Parkman Healthcare Partners LLC now owns 1,780,454 shares of the company’s stock valued at $9,775,000 after buying an additional 1,201,943 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake 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 buying an additional 1,199,435 shares during the period. 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.