Xeris Biopharma (NASDAQ:XERS) Hits New 52-Week High – Here’s What Happened

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $4.68 and last traded at $4.39, with a volume of 4430709 shares changing hands. The stock had previously closed at $4.59.

Analysts Set New Price Targets

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

Xeris Biopharma Price Performance

The company has a fifty day moving average price of $3.61 and a two-hundred day moving average price of $3.28. The company has a market capitalization of $654.47 million, a P/E ratio of -9.76 and a beta of 2.32.

Hedge Funds Weigh In On Xeris Biopharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC bought a new stake in shares of Xeris Biopharma in the fourth quarter worth $34,000. R Squared Ltd acquired a new position in Xeris Biopharma during the 4th quarter worth about $42,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Xeris Biopharma in the 3rd quarter valued at about $35,000. Cibc World Markets Corp bought a new stake in shares of Xeris Biopharma in the 4th quarter valued at about $44,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Xeris Biopharma in the fourth quarter valued at about $45,000. 42.75% of the stock is currently owned by institutional investors and hedge funds.

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.