Piper Sandler Reaffirms Overweight Rating for Xeris Biopharma (NASDAQ:XERS)

Xeris Biopharma (NASDAQ:XERS)‘s stock had its “overweight” rating reiterated by analysts at Piper Sandler in a report issued on Friday, Benzinga reports. They presently have a $3.00 price target on the stock, down from their previous price target of $4.00. Piper Sandler’s target price would indicate a potential upside of 72.91% from the stock’s previous close.

Several other analysts have also issued reports on XERS. HC Wainwright lifted their target price on shares of Xeris Biopharma from $5.50 to $6.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Oppenheimer started coverage on shares of Xeris Biopharma in a report on Thursday, March 28th. They set an “outperform” rating and a $5.00 price target for the company.

Xeris Biopharma Price Performance

Shares of NASDAQ XERS traded down $0.15 during mid-day trading on Friday, hitting $1.74. 1,152,720 shares of the company’s stock traded hands, compared to its average volume of 2,008,527. The company’s 50-day moving average is $2.07 and its two-hundred day moving average is $2.20. The company has a debt-to-equity ratio of 49.27, a current ratio of 1.64 and a quick ratio of 1.23. The company has a market capitalization of $257.22 million, a P/E ratio of -3.98 and a beta of 2.37. Xeris Biopharma has a 1 year low of $1.46 and a 1 year high of $3.26.

Xeris Biopharma (NASDAQ:XERS) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). Xeris Biopharma had a negative net margin of 37.98% and a negative return on equity of 610.76%. The business had revenue of $40.64 million for the quarter, compared to the consensus estimate of $41.56 million. On average, equities analysts anticipate that Xeris Biopharma will post -0.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Xeris Biopharma

Several hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. boosted its stake in shares of Xeris Biopharma by 100.4% during the 1st quarter. Principal Financial Group Inc. now owns 89,618 shares of the company’s stock worth $198,000 after purchasing an additional 44,893 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Xeris Biopharma by 66.0% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 26,516 shares of the company’s stock worth $59,000 after purchasing an additional 10,543 shares during the last quarter. Diversified Trust Co boosted its stake in shares of Xeris Biopharma by 12.9% during the 1st quarter. Diversified Trust Co now owns 175,741 shares of the company’s stock worth $388,000 after purchasing an additional 20,091 shares during the last quarter. Quarry LP purchased a new position in shares of Xeris Biopharma during the 4th quarter worth about $47,000. Finally, Invenomic Capital Management LP purchased a new position in shares of Xeris Biopharma during the 4th quarter worth about $1,336,000. 42.75% of the stock is 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.