The stock of Xeris Pharmaceuticals, Inc. (NASDAQ:XERS) is now priced at $4.25 and the shares are 0.4 points up or 10.39% higher compared to its previous closing price of $3.85. The stock had 6.14 million contracts set over the past session. XERS shares’ daily volume is compared to its average trading volume at 3.472 million shares. However, it has a float of 37.53 million and although its performance was 2.16% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the XERS share price recently placing at $3.75 to $4.44. However, some brokerage firms have priced the stock below the average, including one that has called $7.

The shorts are climbing into the Xeris Pharmaceuticals, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the XERS shares have risen. Short interest in the stock represents just 40.57% of its float, but the volume has raised by 1941109. The volume of shorted shares rised to 15.224 million from 13.283 million shares over the last two weeks. The average intraday trading volume has been 4.134 million shares, which means that days to cover moved to roughly 3.682509.

In the last trading session, Xeris Pharmaceuticals, Inc. (NASDAQ:XERS) raised by $0.09 over the week and gained $1.39 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $12.29. The stock recorded its established 52-week high on 09/10/19.

Since 03/19/20, the stock has traded to a low of $1.42 at 199.3%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.

Looking at current readings, Xeris Pharmaceuticals, Inc.’s two-week RSI is 64.6. This suggests that the stock is neutral at the moment and that XERS shares’ price movement remains stable. The stochastic readings are equally revealing at 48.69% meaning the XERS share price is currently in neutral territory.

The technical chart shows that the XERS stock will likely settle at between $4.54 and $4.84 per share. However, if the stock dips below $3.85, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $3.46.

Currently, the stock is trading in the red of MACD, with a reading of -0.06. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.

Analysts at Maxim Group assigned XERS a rating of Overweight in their intiating review released on February 18. RBC Capital Mkts analysts see the stock as a Outperform with a target price of $24 in a flash note released to investors on July 16 initiating covering the stock. Leerink Partners analysts see the stock as Outperform when the analysts initiated the share price coverage on July 16, placing it at $24.

The average rating for the XERS equity is 1.6 and is currently gathering a bullish momentum. Of 5 analysts tracking Xeris Pharmaceuticals, Inc. polled by Reuters, 0 rated XERS as a hold. The remaining 5 analysts were split evenly. However, the split wasn’t equal as a majority (5) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.

Zacks Consensus Estimate forecasts that the current-quarter revenues for Xeris Pharmaceuticals, Inc. (NASDAQ:XERS) will decrease by about -99.78%, which will see them reach $4.56 million. The company’s full-year revenues are, however, expected to increase by about 439.71%, up from $2.72 million to $14.68 million. XERS’s expected adjusted earnings should drop almost -54.1% to end up at -$0.56 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -45.95% to record -$2.6/share.

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