Xeris Biopharma (NASDAQ:XERS) Stock Price Expected to Rise, HC Wainwright Analyst Says

Xeris Biopharma (NASDAQ:XERS - Free Report) had its price objective upped by HC Wainwright from $6.00 to $6.60 in a report published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Separately, Piper Sandler downgraded shares of Xeris Biopharma from an "overweight" rating to a "neutral" rating and set a $3.00 target price on the stock. in a research note on Monday.

Xeris Biopharma Stock Performance

NASDAQ:XERS traded down $0.19 during mid-day trading on Monday, reaching $3.28. The stock had a trading volume of 2,424,566 shares, compared to its average volume of 1,718,662. Xeris Biopharma has a one year low of $1.46 and a one year high of $3.64. The firm has a 50 day moving average price of $2.97 and a two-hundred day moving average price of $2.51. The stock has a market capitalization of $488.72 million, a P/E ratio of -7.29 and a beta of 2.70.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.01. Xeris Biopharma had a negative return on equity of 16,662.63% and a negative net margin of 32.83%. The company had revenue of $48.07 million during the quarter, compared to analysts' expectations of $46.80 million. During the same period in the prior year, the business posted ($0.14) EPS. Research analysts forecast that Xeris Biopharma will post -0.4 earnings per share for the current year.

Institutional Investors Weigh In On Xeris Biopharma

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Xeris Biopharma by 7.3% in the first quarter. Vanguard Group Inc. now owns 7,606,242 shares of the company's stock worth $16,810,000 after buying an additional 519,897 shares during the last quarter. Alpine Global Management LLC increased its stake in shares of Xeris Biopharma by 11.1% in the 1st quarter. Alpine Global Management LLC now owns 300,000 shares of the company's stock worth $663,000 after purchasing an additional 30,000 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Xeris Biopharma by 9.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 125,635 shares of the company's stock worth $278,000 after purchasing an additional 10,632 shares during the period. NEA Management Company LLC purchased a new position in Xeris Biopharma during the first quarter valued at $926,000. Finally, Bayesian Capital Management LP purchased a new stake in Xeris Biopharma in the first quarter worth about $37,000. 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.