Raymond James Financial Inc. Purchases New Position in Xeris Biopharma Holdings, Inc. (NASDAQ:XERS)

Raymond James Financial Inc. purchased a new stake in shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,150 shares of the company’s stock, valued at approximately $45,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legato Capital Management LLC bought a new stake in shares of Xeris Biopharma during the fourth quarter valued at approximately $482,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Xeris Biopharma by 106.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 171,332 shares of the company’s stock worth $581,000 after purchasing an additional 88,224 shares during the period. Vanguard Group Inc. grew its position in Xeris Biopharma by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 7,899,063 shares of the company’s stock worth $26,778,000 after purchasing an additional 133,738 shares during the period. Principal Financial Group Inc. grew its position in Xeris Biopharma by 10.5% in the 4th quarter. Principal Financial Group Inc. now owns 113,217 shares of the company’s stock worth $384,000 after purchasing an additional 10,748 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Xeris Biopharma by 20.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 391,960 shares of the company’s stock worth $1,117,000 after purchasing an additional 67,557 shares during the period. Institutional investors own 42.75% of the company’s stock.

Xeris Biopharma Stock Down 5.3%

Shares of XERS stock opened at $4.64 on Thursday. The company’s fifty day simple moving average is $4.71 and its two-hundred day simple moving average is $3.88. The stock has a market cap of $725.63 million, a P/E ratio of -10.31 and a beta of 1.10. Xeris Biopharma Holdings, Inc. has a 52 week low of $1.86 and a 52 week high of $6.07.

Xeris Biopharma (NASDAQ:XERS) last announced its earnings results on Thursday, May 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The business had revenue of $57.80 million for the quarter, compared to analysts’ expectations of $57.61 million. On average, analysts anticipate that Xeris Biopharma Holdings, Inc. will post -0.41 EPS for the current fiscal year.

Insider Activity

In other news, insider Beth Hecht sold 40,000 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $5.43, for a total transaction of $217,200.00. Following the sale, the insider now directly owns 1,353,510 shares in the company, valued at approximately $7,349,559.30. This represents a 2.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on XERS. Oppenheimer lifted their target price on shares of Xeris Biopharma from $6.00 to $7.00 and gave the stock an “outperform” rating in a research report on Friday, May 9th. Jefferies Financial Group reissued a “buy” rating and set a $6.00 price objective (up previously from $4.00) on shares of Xeris Biopharma in a research report on Wednesday, January 29th. Craig Hallum boosted their price objective on shares of Xeris Biopharma from $5.00 to $6.50 and gave the company a “buy” rating in a research report on Friday, March 7th. Leerink Partners boosted their price objective on shares of Xeris Biopharma from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Friday, March 7th. Finally, Piper Sandler reissued a “neutral” rating and set a $4.00 price objective (up previously from $3.00) on shares of Xeris Biopharma in a research report on Friday, March 7th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.25.

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.