Xeris Biopharma (NASDAQ:XERS) Hits New 12-Month High - Here's What Happened

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Get Free Report) shares reached a new 52-week high on Monday . The company traded as high as $5.97 and last traded at $5.88, with a volume of 1014781 shares. The stock had previously closed at $5.81.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on XERS shares. Piper Sandler reissued a "neutral" rating and issued a $4.00 price target (up previously from $3.00) on shares of Xeris Biopharma in a research note on Friday, March 7th. Leerink Partners boosted their target price on shares of Xeris Biopharma from $5.00 to $6.00 and gave the stock an "outperform" rating in a research report on Friday, March 7th. Craig Hallum raised their price target on shares of Xeris Biopharma from $5.00 to $6.50 and gave the company a "buy" rating in a report on Friday, March 7th. HC Wainwright reissued a "buy" rating and set a $8.00 target price (up from $6.60) on shares of Xeris Biopharma in a research report on Friday, March 7th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $6.00 price target (up previously from $4.00) on shares of Xeris Biopharma in a research report on Wednesday, January 29th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $5.92.

Xeris Biopharma Price Performance

The company has a market capitalization of $855.91 million, a P/E ratio of -12.34 and a beta of 2.32. The stock's fifty day simple moving average is $4.09 and its 200-day simple moving average is $3.49.

Remove Ads

Insiders Place Their Bets

In other Xeris Biopharma news, insider Beth Hecht sold 40,000 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $5.43, for a total value of $217,200.00. Following the completion of the sale, the insider now directly owns 1,353,510 shares of the company's stock, valued at $7,349,559.30. This represents a 2.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.56% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Walleye Capital LLC bought a new position in Xeris Biopharma during the third quarter valued at about $3,197,000. JPMorgan Chase & Co. grew its holdings in shares of Xeris Biopharma by 166.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,043,441 shares of the company's stock worth $3,537,000 after purchasing an additional 651,481 shares in the last quarter. Driehaus Capital Management LLC bought a new stake in shares of Xeris Biopharma during the fourth quarter valued at approximately $2,014,000. Millennium Management LLC raised its stake in shares of Xeris Biopharma by 34.8% in the fourth quarter. Millennium Management LLC now owns 1,948,552 shares of the company's stock valued at $6,606,000 after purchasing an additional 502,853 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Xeris Biopharma by 31.3% in the fourth quarter. Renaissance Technologies LLC now owns 2,098,840 shares of the company's stock worth $7,115,000 after purchasing an additional 500,120 shares during the period. 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.