Xeris Biopharma (NASDAQ:XERS) Trading Up 8.2% – Still a Buy?

Shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) were up 8.2% on Wednesday . The company traded as high as $3.44 and last traded at $3.44. Approximately 783,646 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 1,704,671 shares. The stock had previously closed at $3.18.

Analysts Set New Price Targets

A number of analysts recently commented on XERS shares. Piper Sandler cut shares of Xeris Biopharma from an “overweight” rating to a “neutral” rating and set a $3.00 price objective for the company. in a research report on Monday, November 11th. HC Wainwright upped their price objective on shares of Xeris Biopharma from $6.00 to $6.60 and gave the company a “buy” rating in a research report on Monday, November 11th.

Xeris Biopharma Trading Up 8.2 %

The stock’s 50 day moving average price is $3.04 and its 200 day moving average price is $2.60. The company has a market capitalization of $512.84 million, a price-to-earnings ratio of -7.53 and a beta of 2.70.

Institutional Investors Weigh In On Xeris Biopharma

Hedge funds have recently bought and sold shares of the company. Simplicity Wealth LLC bought a new position in shares of Xeris Biopharma during the second quarter worth approximately $27,000. Wealth Enhancement Advisory Services LLC bought a new position in Xeris Biopharma in the third quarter valued at approximately $35,000. Quantbot Technologies LP bought a new stake in shares of Xeris Biopharma during the third quarter worth $44,000. Allspring Global Investments Holdings LLC grew its stake in shares of Xeris Biopharma by 4,512.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 16,282 shares of the company’s stock worth $37,000 after buying an additional 15,929 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new position in shares of Xeris Biopharma during the first quarter worth $37,000. 42.75% of the stock is currently owned by institutional investors and hedge funds.

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.