Reddit Penny Stocks to Watch #5: Xeris Pharmaceuticals, Inc. (NASDAQ: XERS)
XERS is another biotech company. It develops ready-to-use injectable drug treatments.
On May 24, the company announced it will acquire Strongbridge Biopharma plc (NASDAQ: SBBP).
“Upon close of the transaction, the businesses of Xeris and Strongbridge will be combined under a new entity to be called Xeris Biopharma Holdings, Inc. (‘Xeris Biopharma Holdings’).”
Redditors are chatting about the potential for a short squeeze and mention a price target of $8. Again, I wouldn’t hold in hopes of it reaching that price. I’ll watch for a multi-day breakout over $4.40.