Xeris Biopharma (NASDAQ:XERS) Rating Lowered to Neutral at Piper Sandler

Xeris Biopharma (NASDAQ:XERS) was downgraded by Piper Sandler from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Monday, MarketBeat.com reports. They currently have a $3.00 price objective on the stock. Piper Sandler’s price objective suggests a potential downside of 4.76% from the company’s current price.

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

Xeris Biopharma Stock Down 4.0 %

Xeris Biopharma stock opened at $3.15 on Monday. Xeris Biopharma has a twelve month low of $1.46 and a twelve month high of $3.64. The company’s 50-day moving average price is $2.98 and its 200-day moving average price is $2.52. The company has a market cap of $469.35 million, a PE ratio of -7.00 and a beta of 2.70.

Institutional Trading of Xeris Biopharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC bought a new position in shares of Xeris Biopharma during the third quarter valued at approximately $130,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Xeris Biopharma in the third quarter worth $237,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Xeris Biopharma by 64.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 28,657 shares of the company’s stock worth $82,000 after purchasing an additional 11,239 shares during the last quarter. Goldstein Advisors LLC boosted its stake in shares of Xeris Biopharma by 19.7% during the third quarter. Goldstein Advisors LLC now owns 30,425 shares of the company’s stock valued at $87,000 after purchasing an additional 5,000 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Xeris Biopharma in the third quarter worth about $35,000. 42.75% of the stock is owned by hedge funds and other institutional investors.

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.