Xeris Biopharma (NASDAQ:XERS) Rating Lowered to Neutral at Piper Sandler

Xeris Biopharma (NASDAQ:XERS - Get Free Report) was downgraded by research analysts at Piper Sandler from an "overweight" rating to a "neutral" rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. They presently have a $3.00 price target on the stock. Piper Sandler's price target would indicate a potential downside of 9.37% from the stock's previous close.

Separately, HC Wainwright restated a "buy" rating and issued a $6.00 target price on shares of Xeris Biopharma in a report on Thursday, August 15th.

Xeris Biopharma Stock Performance

Shares of NASDAQ:XERS traded down $0.16 during trading hours on Monday, hitting $3.31. The stock had a trading volume of 2,010,590 shares, compared to its average volume of 1,716,761. The stock's fifty day simple moving average is $2.96 and its 200 day simple moving average is $2.50. The firm has a market capitalization of $493.19 million, a price-to-earnings ratio of -7.40 and a beta of 2.70. Xeris Biopharma has a 1-year low of $1.46 and a 1-year high of $3.64.

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

Hedge Funds Weigh In On Xeris Biopharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XERS. Goldstein Advisors LLC lifted its holdings in shares of Xeris Biopharma by 19.7% in the third quarter. Goldstein Advisors LLC now owns 30,425 shares of the company's stock valued at $87,000 after purchasing an additional 5,000 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Xeris Biopharma by 10.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 57,805 shares of the company's stock valued at $130,000 after purchasing an additional 5,291 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Xeris Biopharma by 9.2% during the first 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. China Universal Asset Management Co. Ltd. boosted its stake in shares of Xeris Biopharma by 64.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 28,657 shares of the company's stock valued at $82,000 after buying an additional 11,239 shares during the period. Finally, Simplicity Wealth LLC purchased a new position in Xeris Biopharma in the second quarter valued at about $27,000. Institutional investors and hedge funds own 42.75% of the company's stock.

Xeris Biopharma Company Profile

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.