Brokerages Set Xeris Pharmaceuticals Inc (XERS) Target Price at $23.67

Shares of Xeris Pharmaceuticals Inc (NASDAQ:XERS) have earned an average recommendation of “Buy” from the five analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $23.67.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Xeris Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, September 18th. Royal Bank of Canada assumed coverage on shares of Xeris Pharmaceuticals in a report on Monday, July 16th. They issued an “outperform” rating and a $24.00 target price for the company. Leerink Swann assumed coverage on shares of Xeris Pharmaceuticals in a report on Monday, July 16th. They issued an “outperform” rating and a $24.00 target price for the company. Jefferies Financial Group assumed coverage on shares of Xeris Pharmaceuticals in a report on Monday, July 16th. They issued a “buy” rating and a $23.00 target price for the company. Finally, Mizuho assumed coverage on shares of Xeris Pharmaceuticals in a report on Monday, July 16th. They issued a “buy” rating for the company.

Xeris Pharmaceuticals stock opened at $18.10 on Friday. Xeris Pharmaceuticals has a 1 year low of $15.75 and a 1 year high of $27.98.

Xeris Pharmaceuticals (NASDAQ:XERS) last released its earnings results on Monday, August 13th. The company reported ($3.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($2.19). The company had revenue of $0.82 million for the quarter, compared to analysts’ expectations of $0.30 million. On average, analysts forecast that Xeris Pharmaceuticals will post -8.36 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. Citadel Advisors LLC acquired a new position in Xeris Pharmaceuticals during the second quarter valued at approximately $214,000. BlackRock Inc. acquired a new position in Xeris Pharmaceuticals during the second quarter valued at approximately $475,000. Dean Capital Investments Management LLC acquired a new position in Xeris Pharmaceuticals during the second quarter valued at approximately $563,000. Millennium Management LLC acquired a new position in Xeris Pharmaceuticals during the second quarter valued at approximately $1,898,000. Finally, Granahan Investment Management Inc. MA acquired a new position in Xeris Pharmaceuticals during the second quarter valued at approximately $2,481,000. 45.89% of the stock is currently owned by hedge funds and other institutional investors.

About Xeris Pharmaceuticals

Xeris Pharmaceuticals, Inc, a specialty pharmaceutical company, develops and commercializes ready-to-use injectable and infusible drug formulations. Its proprietary XeriSol and XeriJect formulation technologies allow for the subcutaneous and intramuscular delivery of highly-concentrated, ready-to-use formulations of peptides, proteins, antibodies, and small molecules using commercially available syringes, auto-injectors, multi-dose pens, and infusion pumps.

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