Xeris Biopharma (NASDAQ:XERS) Downgraded to Neutral Rating by Piper Sandler

Piper Sandler lowered shares of Xeris Biopharma (NASDAQ:XERS) from an overweight rating to a neutral rating in a research report report published on Monday morning, Marketbeat.com reports. They currently have $3.00 price objective on the stock.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $6.00 target price on shares of Xeris Biopharma in a report on Thursday, August 15th.

Xeris Biopharma Price Performance

Shares of NASDAQ:XERS opened at $3.15 on Monday. The business has a fifty day moving average price of $2.99 and a 200-day moving average price of $2.53. The company has a market capitalization of $469.60 million, a PE ratio of -7.00 and a beta of 2.70. Xeris Biopharma has a 1-year low of $1.46 and a 1-year high of $3.64.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of XERS. Vanguard Group Inc. boosted its position in shares of Xeris Biopharma by 7.3% during the first quarter. Vanguard Group Inc. now owns 7,606,242 shares of the company’s stock valued at $16,810,000 after buying an additional 519,897 shares during the last quarter. NEA Management Company LLC purchased a new stake in shares of Xeris Biopharma during the 1st quarter valued at about $926,000. Renaissance Technologies LLC grew its stake in shares of Xeris Biopharma by 33.9% in the second quarter. Renaissance Technologies LLC now owns 1,351,640 shares of the company’s stock worth $3,041,000 after acquiring an additional 342,300 shares during the period. Rosalind Advisors Inc. raised its holdings in shares of Xeris Biopharma by 10.6% during the second quarter. Rosalind Advisors Inc. now owns 3,120,170 shares of the company’s stock valued at $7,020,000 after purchasing an additional 300,000 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Xeris Biopharma during the third quarter valued at approximately $237,000. 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.