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

Piper Sandler cut 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. Piper Sandler currently has $3.00 target price on the stock.

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

Xeris Biopharma Stock Down 5.5 %

Shares of NASDAQ:XERS opened at $3.28 on Monday. The firm has a market capitalization of $488.72 million, a PE ratio of -7.29 and a beta of 2.70. Xeris Biopharma has a twelve month low of $1.46 and a twelve month high of $3.64. The company has a 50-day moving average price of $2.97 and a two-hundred day moving average price of $2.51.

Institutional Investors Weigh In On Xeris Biopharma

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