Xeris Biopharma (NASDAQ:XERS) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) saw unusually-strong trading volume on Friday . Approximately 4,159,031 shares changed hands during trading, an increase of 93% from the previous session’s volume of 2,159,568 shares.The stock last traded at $4.88 and had previously closed at $4.56.

Wall Street Analysts Forecast Growth

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

Xeris Biopharma Stock Performance

The company has a market capitalization of $741.99 million, a price-to-earnings ratio of -10.71 and a beta of 2.32. The business’s 50-day simple moving average is $3.68 and its 200-day simple moving average is $3.32.

Hedge Funds Weigh In On Xeris Biopharma

Hedge funds and other institutional investors have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Xeris Biopharma in the 3rd quarter valued at $237,000. Intech Investment Management LLC acquired a new position in Xeris Biopharma in the third quarter valued at about $130,000. Quantbot Technologies LP bought a new position in Xeris Biopharma during the third quarter worth about $44,000. Walleye Capital LLC acquired a new position in shares of Xeris Biopharma during the 3rd quarter worth about $3,197,000. Finally, Wellington Management Group LLP raised its position in shares of Xeris Biopharma by 11.7% in the 3rd quarter. Wellington Management Group LLP now owns 471,644 shares of the company’s stock valued at $1,344,000 after acquiring an additional 49,535 shares during the period. 42.75% of the stock is owned by institutional investors.

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.