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Xeris Pharmaceuticals
(NASDAQ:XERS)
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Rating:54Neutral
Price Target:
$9.00
▲(8.17% Upside)
Action:Reiterated
Date:08/07/26
The score is driven primarily by improving operating fundamentals and cash generation, but capped by balance-sheet risk (negative equity with meaningful debt) and still-inconsistent profitability. Technical signals are weak (below short-term moving averages with low RSI), and valuation is demanding (P/E 114.1). Offsetting these is a strong, guidance-raising earnings call with accelerating commercial performance and improving profitability metrics.
Positive Factors
Strong Commercial Growth
Broad-based product growth and tighter, higher revenue guidance indicate improving commercial execution. Recorlev’s rapid expansion, Gvoke recovery and Keveyis consistency provide multiple contributors to revenue growth over the next several quarters.
Negative Factors
Fragile Balance Sheet
Negative equity and substantial debt reduce financial flexibility and leave less protection against operating setbacks. Although the convertible notes retirement helps, the remaining capital structure remains a material constraint on investment capacity and risk tolerance.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Commercial Growth
Broad-based product growth and tighter, higher revenue guidance indicate improving commercial execution. Recorlev’s rapid expansion, Gvoke recovery and Keveyis consistency provide multiple contributors to revenue growth over the next several quarters.
Read all positive factors
Xeris Pharmaceuticals (XERS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.59B
Dividend YieldN/A
Average Volume (3M)2.07M
Price to Earnings (P/E)―
Beta (1Y)1.16
Revenue Growth36.33%
EPS Growth54.68%
CountryUS
Employees435
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.10
Shares Outstanding182,320,310
10 Day Avg. Volume1,551,078
30 Day Avg. Volume2,072,983
Financial Highlights & Ratios
PEG Ratio-22.22
Price to Book (P/B)92.00
Price to Sales (P/S)4.32
P/FCF Ratio45.09
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$12.00Price Target Upside44.23% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)>-0.01
Revenue Forecast (FY)$387.25M
Xeris Pharmaceuticals Business Overview & Revenue Model
Company Description
Xeris Biopharma Holdings, Inc. operates as a biopharmaceutical company, focusing on the development and commercialization of therapeutic solutions for individuals across the fields of endocrinology, neurology, and gastroenterology. Its current por...
How the Company Makes Money
Xeris primarily makes money by commercializing prescription pharmaceutical products and recording product (net) revenue from sales to wholesalers, specialty pharmacies, and other customers, with revenue recognized net of typical industry deduction...
Xeris Pharmaceuticals Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call emphasized strong commercial momentum (notably Recorlev’s 81% YoY growth), improved profitability (86% gross margin, adjusted EBITDA +50% YoY), strategic wins (Keveyis patent protection, retirement of convertible notes) and material pipeline progress for XP-8121 (multiple patents, Phase III planned by year-end). Lowlights were largely manageable: a one-time non-cash GAAP charge of ~$31M, higher near-term SG&A and R&D investments to fund growth and XP-8121, earlier-year softness in Gvoke that has since rebounded, and some remaining timing/enrollment uncertainty around Phase III. Overall, positive commercial execution and balance sheet actions outweigh the near-term charges and increased investment cadence.Positive Updates
Record Quarterly Revenue and Strong YoY Growth
Total revenue of $92.1M and net product revenue of $91M in Q2 2026, representing year-over-year growth of ~29% (total revenue) and ~34% (net product revenue). First half revenue growth of 33% and company raised the bottom end of full-year 2026 guidance to $385M–$390M (tightened $5M range).
Negative Updates
One-Time GAAP Charge Related to Convertible Notes
A one-time non-cash GAAP re-measurement charge of approximately $31M was recognized in Q2 related to the convertible notes exchange agreement; management noted this does not impact adjusted EBITDA and expects no additional income statement charge in Q3.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Quarterly Revenue and Strong YoY Growth
Total revenue of $92.1M and net product revenue of $91M in Q2 2026, representing year-over-year growth of ~29% (total revenue) and ~34% (net product revenue). First half revenue growth of 33% and company raised the bottom end of full-year 2026 guidance to $385M–$390M (tightened $5M range).
Read all positive updates
Company Guidance
Xeris raised the bottom end of its 2026 total revenue guidance and tightened the range to $385–$390 million (a $5M band), implying roughly 33% growth at the midpoint, backed by strong H1 performance and Q2 results: total revenue $92.1M (up 29% YoY), net product revenue $91M (up 34% YoY), Recorlev $56.8M (up 81% YoY, +$25.3M), Gvoke $22.5M (up ~8% sequentially), and Keveyis $11.7M. Q2 gross margin was ~86% (≈400 bps improvement YoY); Q2 R&D was $10.7M (+$2.6M YoY) and management expects R&D to rise ≈$25M vs. 2025; Q2 SG&A was $61M and full‑year SG&A is now expected to increase ≈$50M vs. 2025 (vs. prior ~$45M guidance). Adjusted EBITDA was $19.3M in Q2 (up $6.7M YoY, >50% growth) and is forecast to increase in absolute dollars for 2026; the company also eliminated $34M of convertible debt (saving ≈$3M annually) while taking a one‑time non‑cash remeasurement charge of ~ $31M in Q2, and expects H2 uplift from Recorlev expansion and seasonal Gvoke demand.Xeris Pharmaceuticals Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
38
Negative
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 335.41M | 291.85M | 203.07M | 163.91M | 110.25M | 49.59M |
| Gross Profit | 279.54M | 238.43M | 166.24M | 135.27M | 87.61M | 36.27M |
| EBITDA | 16.41M | 12.71M | -13.99M | -23.73M | -69.31M | -113.67M |
| Net Income | -17.16M | 554.00K | -54.84M | -62.26M | -94.66M | -122.72M |
Balance Sheet | ||||||
| Total Assets | 411.90M | 383.53M | 323.06M | 322.60M | 344.52M | 304.36M |
| Cash, Cash Equivalents and Short-Term Investments | 121.75M | 111.04M | 71.62M | 72.45M | 121.97M | 102.43M |
| Total Debt | 289.44M | 37.76M | 271.45M | 229.19M | 198.06M | 88.07M |
| Total Liabilities | 421.64M | 369.84M | 352.68M | 329.38M | 299.33M | 209.13M |
| Stockholders Equity | -9.73M | 13.69M | -29.61M | -6.78M | 45.19M | 95.23M |
Cash Flow | ||||||
| Free Cash Flow | 55.38M | 27.93M | -37.85M | -49.29M | -103.42M | -96.62M |
| Operating Cash Flow | 56.61M | 28.63M | -36.98M | -47.02M | -102.89M | -95.53M |
| Investing Cash Flow | -938.00K | -696.00K | 4.88M | -6.00M | 34.46M | 97.96M |
| Financing Cash Flow | 6.69M | 11.39M | 36.17M | -1.61M | 127.47M | 27.25M |
Xeris Pharmaceuticals Technical Analysis
Positive
8.32
Price Trends
8.08
Positive
7.12
Positive
7.01
Positive
Market Momentum
0.17
Negative
57.64
Neutral
73.43
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For XERS, the sentiment is Positive. The current price of 8.32 is above the 20-day moving average (MA) of 8.32, above the 50-day MA of 8.08, and above the 200-day MA of 7.01, indicating a bullish trend. The MACD of 0.17 indicates Negative momentum. The RSI at 57.64 is Neutral, neither overbought nor oversold. The STOCH value of 73.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for XERS.
Xeris Pharmaceuticals Risk Analysis
Xeris Pharmaceuticals disclosed 83 risk factors in its most recent earnings report. Xeris Pharmaceuticals reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Xeris Pharmaceuticals Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
56 Neutral | $2.08B | -9.61 | -59.36% | ― | -86.20% | -476.63% | |
54 Neutral | $1.59B | -89.60 | -426.33% | ― | 36.33% | 54.68% | |
53 Neutral | $2.31B | -15.87 | -29.02% | ― | ― | -23.53% | |
52 Neutral | $2.05B | -14.19 | -0.74% | ― | -69.78% | -106.07% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $3.86B | -7.72 | -87.98% | ― | -55.34% | -23.18% | |
50 Neutral | $1.75B | -7.80 | -372.94% | ― | 222.65% | 35.43% |
* Healthcare Sector Average
XERS
Xeris Pharmaceuticals
8.70
0.93
11.97%
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STOK
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32.29
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RAPP
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48.24
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229.73%
Xeris Pharmaceuticals Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Xeris Biopharma Eliminates 2028 Convertible Notes Via Exchanges
Positive
Jul 17, 2026
On July 15, 2026, Xeris Biopharma Holdings, Inc. completed privately negotiated exchange transactions with certain holders of its 8.00% Convertible Senior Notes due 2028, swapping approximately $23 million in principal amount of notes for about 5....
Business Operations and StrategyExecutive/Board Changes
Xeris Pharmaceuticals appoints new director and board chair
Positive
Jun 30, 2026
On June 29, 2026, Xeris’ board expanded from seven to eight members and appointed veteran biotech executive and pediatric endocrinologist Nerissa Kreher, M.D., as a Class III director effective July 1, 2026, with an initial equity package st...
Business Operations and StrategyPrivate Placements and Financing
Xeris Biopharma Announces Debt Reduction via Note Exchanges
Positive
Jun 11, 2026
On June 10, 2026, Xeris Biopharma Holdings, Inc. entered into privately negotiated exchange agreements with certain holders of its 8.00% Convertible Senior Notes due 2028, aiming to retire approximately $23 million in principal through a mix of ca...
Executive/Board ChangesShareholder Meetings
Xeris Biopharma Shareholders Elect Directors and Ratify Auditor
Neutral
Jun 5, 2026
On June 4, 2026, Xeris Biopharma Holdings, Inc. held its 2026 Annual Meeting of Stockholders, with 128,268,073 of 172,625,762 eligible shares represented, establishing a quorum. Shareholders elected two Class II directors, Dawn Halkuff and John Jo...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.