Xeris Biopharma Holdings Inc (NASDAQ:XERS) Stock Sees Continuous Buying Buzz
Over the course of the past few days, investors have been increasingly bullish with regards to the biopharmaceutical firm Xeris Biopharma Holdings Inc (NASDAQ:XERS). The stock was on the move on Monday as well and ended the day with gains of as much as 15%.
Market Stats
On Monday, XERS stock closed higher by 15.89% to $2.48 with more than 6.91 million shares, compared to its average volume of 3.29 million shares. The stock has moved within a range of $2.2601 – 2.4900 after opening trading at $2.36.
Earnings Recap
The rally in the Xeris stock yesterday took its cumulative gains for the past week to as much as 32%. There was no news about the company yesterday but the rally had originally commenced last week after the company announced its financial results for the third quarter as well as the nine month period, both of which ended on September 30, 2021.
In this situation, it might be a good move to take a look at some of the highlights from the company’s financial results. Xeris announced that the strong sales recorded by its products Keveyis and Gvoke had led to significant growth in the third quarter.
The company managed to generate pro-forma net sales to the tune of as much as $22.5 million as a consequence. It was also noted that the two products were on course to record sales in the range between $76 million and $80 million in revenues for the full year.
Key Quote
Continued strong demand for both Gvoke and Keveyis resulted in outstanding growth in third quarter, recording pro forma net sales of $22.5 million. Our two commercial brands are now on track to achieve a combined $76-80 million in full year revenue,” said Paul R. Edick, Chairman and CEO of Xeris Biopharma.
Traders Corner
XERS stock is trading above the 50-Day and 20-Day Moving averages of $2.06 and $2.22 respectively. However, the stock is trading below the 200-Day moving average of $3.56. The stock is up 24% in the past month.
