Piper Sandler Downgrades Xeris Biopharma (NASDAQ:XERS) to Neutral

Piper Sandler downgraded shares of Xeris Biopharma (NASDAQ:XERS) from an overweight rating to a neutral rating in a research report report published on Monday morning, Marketbeat reports. Piper Sandler currently has $3.00 target price on the stock.

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 Xeris Biopharma stock opened at $3.28 on Monday. Xeris Biopharma has a 52-week low of $1.46 and a 52-week high of $3.64. The stock has a market capitalization of $488.72 million, a price-to-earnings ratio of -7.29 and a beta of 2.70. The company’s 50 day moving average price is $2.97 and its 200-day moving average price is $2.51.

Institutional Trading of Xeris Biopharma

A number of hedge funds and other institutional investors have recently modified their holdings of XERS. Intech Investment Management LLC bought a new position in Xeris Biopharma during the 3rd quarter valued at about $130,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Xeris Biopharma during the 3rd quarter valued at approximately $237,000. China Universal Asset Management Co. Ltd. boosted its position 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 acquiring an additional 11,239 shares during the last quarter. Goldstein Advisors LLC boosted its position in shares of Xeris Biopharma by 19.7% during the 3rd quarter. Goldstein Advisors LLC now owns 30,425 shares of the company’s stock valued at $87,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Xeris Biopharma in the third quarter worth $35,000. 42.75% of the stock is owned by hedge funds and other institutional investors.

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.