Xeris Biopharma (NASDAQ:XERS) Hits New 1-Year High After Better-Than-Expected Earnings

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) hit a new 52-week high during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $4.29 and last traded at $4.38, with a volume of 1940176 shares changing hands. The stock had previously closed at $3.77.

The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Piper Sandler lowered Xeris Biopharma from an “overweight” rating to a “neutral” rating and set a $3.00 target price on the stock. in a report on Monday, November 11th. HC Wainwright raised their price target on Xeris Biopharma from $6.00 to $6.60 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $6.00 price target (up from $4.00) on shares of Xeris Biopharma in a research note on Wednesday, January 29th.

Institutional Trading of Xeris Biopharma

A number of hedge funds have recently made changes to their positions in XERS. NewEdge Advisors LLC acquired a new stake in shares of Xeris Biopharma in the fourth quarter valued at approximately $34,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Xeris Biopharma during the third quarter worth $35,000. R Squared Ltd bought a new stake in shares of Xeris Biopharma in the fourth quarter valued at about $42,000. Quantbot Technologies LP acquired a new position in shares of Xeris Biopharma in the third quarter valued at about $44,000. Finally, Cibc World Markets Corp bought a new position in Xeris Biopharma during the fourth quarter worth about $44,000. 42.75% of the stock is owned by institutional investors and hedge funds.

Xeris Biopharma Trading Up 17.5 %

The firm has a market cap of $660.28 million, a price-to-earnings ratio of -9.66 and a beta of 2.32. The firm’s 50 day simple moving average is $3.54 and its two-hundred day simple moving average is $3.24.

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.