Xeris Biopharma (NASDAQ:XERS) Sets New 52-Week High – Still a Buy?

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $3.42 and last traded at $3.37, with a volume of 932558 shares changing hands. The stock had previously closed at $3.34.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “buy” rating and set a $6.00 price objective on shares of Xeris Biopharma in a research note on Thursday, August 15th.

Xeris Biopharma Price Performance

The firm has a market cap of $500.64 million, a P/E ratio of -7.77 and a beta of 2.70. The stock’s 50-day simple moving average is $2.94 and its two-hundred day simple moving average is $2.47.

Xeris Biopharma (NASDAQ:XERS) last released its earnings results on Thursday, August 8th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. Xeris Biopharma had a negative return on equity of 16,662.63% and a negative net margin of 32.83%. The firm had revenue of $48.07 million for the quarter, compared to analysts’ expectations of $46.80 million. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. As a group, sell-side analysts expect that Xeris Biopharma Holdings, Inc. will post -0.4 earnings per share for the current year.

Institutional Trading of Xeris Biopharma

A number of hedge funds and other institutional investors have recently bought and sold shares of XERS. Simplicity Wealth LLC purchased a new position in Xeris Biopharma in the 2nd quarter worth about $27,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Xeris Biopharma during the third quarter worth approximately $35,000. Allspring Global Investments Holdings LLC raised its stake in shares of Xeris Biopharma by 4,512.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 16,282 shares of the company’s stock valued at $37,000 after acquiring an additional 15,929 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Xeris Biopharma in the first quarter valued at approximately $37,000. Finally, Asset Management Group Inc. grew its stake in Xeris Biopharma by 130.7% in the second quarter. Asset Management Group Inc. now owns 26,480 shares of the company’s stock worth $60,000 after purchasing an additional 15,000 shares in the last quarter. Hedge funds and other institutional investors own 42.75% of the company’s stock.

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.