Xeris Biopharma (NASDAQ:XERS) Shares Gap Up – What’s Next?

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) gapped up before the market opened on Wednesday . The stock had previously closed at $7.31, but opened at $7.89. Xeris Biopharma shares last traded at $8.0450, with a volume of 1,581,185 shares changing hands.

Analysts Set New Price Targets

XERS has been the subject of several recent analyst reports. Barclays started coverage on Xeris Biopharma in a research note on Monday, December 8th. They set an “overweight” rating and a $9.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Xeris Biopharma in a research report on Wednesday, October 8th. Piper Sandler upped their price target on Xeris Biopharma from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Wall Street Zen lowered shares of Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Oppenheimer reissued an “outperform” rating and set a $18.00 price target on shares of Xeris Biopharma in a research note on Friday, November 7th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.50.

Xeris Biopharma Trading Up 7.4%

The company has a market capitalization of $1.30 billion, a P/E ratio of -78.49 and a beta of 0.50. The business has a 50 day moving average price of $7.61 and a 200 day moving average price of $7.04.

Xeris Biopharma (NASDAQ:XERS) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.00 earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.01). The company had revenue of $74.38 million for the quarter, compared to analyst estimates of $74.19 million. On average, analysts forecast that Xeris Biopharma Holdings, Inc. will post -0.41 EPS for the current fiscal year.

Insider Activity

In other Xeris Biopharma news, insider John Patrick Shannon, Jr. sold 23,242 shares of the business’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $7.46, for a total value of $173,385.32. Following the completion of the transaction, the insider directly owned 2,643,153 shares of the company’s stock, valued at approximately $19,717,921.38. The trade was a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barbara-Jean A. Bormann-Kennedy sold 15,000 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $7.09, for a total value of $106,350.00. Following the completion of the sale, the director owned 142,500 shares of the company’s stock, valued at $1,010,325. This trade represents a 9.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 206,976 shares of company stock worth $1,497,495 in the last 90 days. Corporate insiders own 6.47% of the company’s stock.

Hedge Funds Weigh In On Xeris Biopharma

Several institutional investors and hedge funds have recently modified their holdings of the business. AlphaQuest LLC acquired a new stake in Xeris Biopharma during the 3rd quarter worth approximately $35,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Xeris Biopharma by 179.3% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 7,789 shares of the company’s stock valued at $63,000 after buying an additional 5,000 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Xeris Biopharma during the third quarter worth $68,000. Tower Research Capital LLC TRC raised its holdings in shares of Xeris Biopharma by 913.1% during the second quarter. Tower Research Capital LLC TRC now owns 17,395 shares of the company’s stock worth $81,000 after acquiring an additional 15,678 shares during the period. Finally, Modern Wealth Management LLC acquired a new stake in shares of Xeris Biopharma during the second quarter worth $83,000. 42.75% of the stock is currently owned by institutional investors and hedge funds.

About Xeris Biopharma

Xeris Biopharma is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies for endocrine and orphan diseases. The company’s proprietary formulation platform is designed to enable liquid stability of drugs that traditionally require reconstitution before injection. By eliminating the need for on-site mixing and simplifying administration, Xeris aims to improve patient safety, adherence, and convenience in high-need therapeutic areas.

The company’s flagship product, Gvoke, is a ready-to-use liquid glucagon autoinjector and prefilled syringe that has been approved by the U.S.