Xeris Biopharma (NASDAQ:XERS) Earns Buy Rating from HC Wainwright

Xeris Biopharma (NASDAQ:XERS)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a note issued to investors on Friday,Benzinga reports. They presently have a $10.00 target price on the stock. HC Wainwright’s price objective would indicate a potential upside of 23.00% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Zacks Research cut Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Barclays started coverage on Xeris Biopharma in a research note on Monday, December 8th. They issued an “overweight” rating and a $9.00 price target on the stock. Piper Sandler increased their target price on shares of Xeris Biopharma from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Friday, November 7th. Wall Street Zen lowered Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $18.00 target price on shares of Xeris Biopharma in a report on Friday, November 7th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Xeris Biopharma has an average rating of “Moderate Buy” and a consensus target price of $9.50.

Xeris Biopharma Trading Up 12.8%

Shares of NASDAQ:XERS opened at $8.13 on Friday. Xeris Biopharma has a 12-month low of $3.14 and a 12-month high of $10.08. The business has a 50 day moving average of $7.40 and a two-hundred day moving average of $7.14. The company has a market capitalization of $1.35 billion, a PE ratio of -81.29 and a beta of 0.50.

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

Insider Buying and Selling

In other news, Director Barbara-Jean A. Bormann-Kennedy sold 15,000 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $7.09, for a total transaction of $106,350.00. Following the transaction, the director directly owned 142,500 shares of the company’s stock, valued at approximately $1,010,325. The trade was a 9.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Johnson sold 135,400 shares of the stock in a transaction on Friday, December 19th. The shares were sold at an average price of $7.22, for a total transaction of $977,588.00. Following the transaction, the director owned 698,083 shares in the company, valued at $5,040,159.26. This trade represents a 16.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 248,550 shares of company stock worth $1,797,672 in the last 90 days. 6.47% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AlphaQuest LLC acquired a new position in Xeris Biopharma during the 3rd quarter valued at about $35,000. Northwestern Mutual Wealth Management Co. grew its position in Xeris Biopharma by 179.3% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 7,789 shares of the company’s stock valued at $63,000 after buying an additional 5,000 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Xeris Biopharma during the 3rd quarter valued at about $68,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Xeris Biopharma during the 3rd quarter worth about $85,000. Finally, Brooklyn Investment Group acquired a new position in shares of Xeris Biopharma during the third quarter valued at approximately $99,000. Institutional investors and hedge funds own 42.75% of the company’s stock.

About Xeris Biopharma

Xeris Biopharma is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies for endocrine and orphan diseases. The company’s proprietary formulation platform is designed to enable liquid stability of drugs that traditionally require reconstitution before injection. By eliminating the need for on-site mixing and simplifying administration, Xeris aims to improve patient safety, adherence, and convenience in high-need therapeutic areas.

The company’s flagship product, Gvoke, is a ready-to-use liquid glucagon autoinjector and prefilled syringe that has been approved by the U.S.