Barclays Forecasts Strong Price Appreciation for Xeris Biopharma (NASDAQ:XERS) Stock

Xeris Biopharma (NASDAQ:XERS) had its price target boosted by analysts at Barclays from $14.00 to $18.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 11.83% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Wall Street Zen raised Xeris Biopharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Leerink Partners boosted their price target on shares of Xeris Biopharma from $12.00 to $16.00 and gave the stock an “outperform” rating in a report on Thursday, September 10th. Piper Sandler reissued a “neutral” rating and issued a $12.00 price target (up from $8.00) on shares of Xeris Biopharma in a report on Friday, November 6th. HC Wainwright increased their price target on shares of Xeris Biopharma from $10.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, November 6th. Finally, Oppenheimer restated an “outperform” rating and set a $21.00 price objective (up from $18.00) on shares of Xeris Biopharma in a report on Friday, November 6th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Xeris Biopharma presently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Xeris Biopharma Stock Performance

Shares of XERS stock traded up $0.27 during trading on Wednesday, hitting $16.10. The company’s stock had a trading volume of 680,297 shares, compared to its average volume of 2,124,879. The company has a current ratio of 2.15, a quick ratio of 1.02 and a debt-to-equity ratio of 3.89. The company has a market cap of $2.94 billion, a PE ratio of -322.06 and a beta of 0.61. The business has a fifty day moving average of $9.92 and a 200-day moving average of $7.70. Xeris Biopharma has a 52 week low of $5.25 and a 52 week high of $16.42.

Xeris Biopharma (NASDAQ:XERS) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. Xeris Biopharma had a positive return on equity of 147.75% and a negative net margin of 1.76%. The business had revenue of $107.23 million for the quarter, compared to analyst estimates of $101.68 million. As a group, research analysts anticipate that Xeris Biopharma will post 0.13 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Kevin McCulloch sold 25,000 shares of Xeris Biopharma stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $12.49, for a total value of $312,250.00. Following the completion of the transaction, the insider directly owned 1,559,208 shares in the company, valued at approximately $19,474,507.92. The trade was a 1.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Pieper sold 5,000 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $10.23, for a total value of $51,150.00. Following the sale, the insider owned 1,346,053 shares in the company, valued at approximately $13,770,122.19. The trade was a 0.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 168,332 shares of company stock worth $1,678,971 over the last 90 days. Corporate insiders own 4.35% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Ieq Capital LLC grew its holdings in Xeris Biopharma by 26.0% during the 3rd quarter. Ieq Capital LLC now owns 124,012 shares of the company’s stock valued at $1,186,000 after buying an additional 25,583 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of Xeris Biopharma by 27.5% in the third quarter. Royce & Associates LP now owns 588,178 shares of the company’s stock worth $5,623,000 after buying an additional 127,025 shares in the last quarter. Knights of Columbus Asset Advisors LLC bought a new position in shares of Xeris Biopharma in the third quarter valued at approximately $1,275,000. StoneX Group Inc. bought a new position in shares of Xeris Biopharma in the third quarter valued at approximately $142,000. Finally, Pictet Asset Management Holding SA boosted its position in shares of Xeris Biopharma by 13.7% in the third quarter. Pictet Asset Management Holding SA now owns 34,107 shares of the company’s stock valued at $326,000 after acquiring an additional 4,108 shares during the period. Institutional investors own 42.75% of the company’s stock.

About Xeris Biopharma

Xeris Biopharma is a commercial-stage biopharmaceutical company focused on developing and providing treatments for people with endocrine and other serious health conditions. Its products include Gvoke, a ready-to-use glucagon product for the treatment of severe hypoglycemia, and Recorlev, a treatment for adults with endogenous hypercortisolemia associated with Cushing syndrome when surgery is not an option or has not been curative. The company also develops drug-delivery technologies intended to make medicines easier to store and administer.