Xeris Biopharma price target raised to $18 from $8 at Oppenheimer

Oppenheimer analyst Leland Gershell raised the firm’s price target on Xeris Biopharma (XERS) to $18 from $8 and keeps an Outperform rating on the shares. Motivated by bullish commentary from the firm’s recent endocrinologist expert call, Oppenheimer has revised its Xeris model to include value contribution from the company’s subcutaneous levothyroxine candidate. XP-8121 is slated to enter a Phase 3 hypothyroidism trial in the first half of 2026, and the firm believes this once-weekly injectable’s favorable Phase 2 performance derisks remaining development. Oppenheimer forecasts $1.3B peak sales, as may be generated from just 5% uptake into our estimated 2.6M U.S. adults with poorly controlled hypothyroidism following anticipated launch in the 2030 timeframe. It expects XP-8121’s progress toward commercialization along with continued commercial execution to drive outperformance.