Xeris Pharmaceuticals (XERS)
NASDAQ:XERS
Top Page
Xeris Pharmaceuticals
(NASDAQ:XERS)
Select Model
Select Model
Rating:56Neutral
Price Target:
$5.50
▲(3.77% Upside)
Action:ReiteratedDate:03/03/26
The score is driven mainly by improved financial performance in 2025 (profitability inflection and positive free cash flow) and a constructive earnings outlook with strong 2026 growth guidance. These positives are tempered by weak technicals (downtrend/negative momentum), balance-sheet leverage risk, and limited valuation support given the negative P/E and no dividend yield.
Positive Factors
Revenue & Profitability Inflection
Sustained revenue growth into profitability in 2025 demonstrates the business can convert scale into operating profits and cash. A durable shift from multi-year losses to positive EBIT/adjusted EBITDA and operating cash flow improves financial optionality to fund commercialization and pipeline milestones.
Negative Factors
Elevated Leverage
Despite recent deleveraging, a debt-to-equity ratio near 2.8 and history of negative equity signal a fragile capital structure. Material operational setbacks or slower revenue realization could reintroduce refinancing or covenant risks, constraining strategic flexibility over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & Profitability Inflection
Sustained revenue growth into profitability in 2025 demonstrates the business can convert scale into operating profits and cash. A durable shift from multi-year losses to positive EBIT/adjusted EBITDA and operating cash flow improves financial optionality to fund commercialization and pipeline milestones.
Read all positive factors
Xeris Pharmaceuticals (XERS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$960.44M
Dividend YieldN/A
Average Volume (3M)2.03M
Price to Earnings (P/E)2273.2
Beta (1Y)1.38
Revenue Growth42.05%
EPS Growth76.50%
CountryUS
Employees394
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)0.06
Shares Outstanding172,431,290
10 Day Avg. Volume1,664,740
30 Day Avg. Volume2,031,508
Financial Highlights & Ratios
PEG Ratio-22.52
Price to Book (P/B)92.00
Price to Sales (P/S)4.32
P/FCF Ratio45.09
Enterprise Value/Market Cap0.92
Enterprise Value/Revenue3.04
Enterprise Value/Gross Profit3.72
Enterprise Value/Ebitda25.33
Forecast
1Y Price Target
$9.67Price Target Upside82.45% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)0.11
Revenue Forecast (FY)$368.00M
Xeris Pharmaceuticals Business Overview & Revenue Model
Company Description
Xeris Biopharma Holdings, Inc., a biopharmaceutical company, engages in developing and commercializing therapies for patient populations in endocrinology, neurology, and gastroenterology. The company markets Gvoke, a ready-to-use liquid glucagon f...
How the Company Makes Money
Xeris makes money primarily by selling its prescription products in the United States through commercial channels (e.g., wholesalers/distributors and specialty pharmacies) and recording net product revenue after customary deductions (such as rebat...
Xeris Pharmaceuticals Earnings Call Summary
Earnings Call Date:Mar 02, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 07, 2026
Earnings Call Sentiment Positive
The call conveyed a broadly positive tone driven by robust revenue growth (44% FY), first full-year net income, strong adjusted EBITDA ($59.4M), high gross margins (85%+), a strengthened balance sheet and ambitious 2026 guidance (>30% growth midpoint). Management is investing meaningfully in commercial expansion and a high-value pipeline asset (XP-8121) with planned R&D and SG&A step-ups to support future growth. Primary risks highlighted include newly filed Recorlev patent litigation with uncertain timelines, concentration of growth in Recorlev, and near-term increases in R&D and SG&A expenditures that will be absorbed to enable longer-term upside.Positive Updates
Strong Top-Line Growth
Total revenue for FY2025 was $291.8M, an increase of 44% year-over-year; Q4 revenue was $85.8M, up 43% year-over-year.
Negative Updates
Ongoing Recorlev Patent Litigation and Uncertainty
A patent infringement suit was just filed against two ANDA filers; timing and outcome are uncertain (could take months to years), creating potential legal overhang and execution risk despite management's confidence in the patents.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Top-Line Growth
Total revenue for FY2025 was $291.8M, an increase of 44% year-over-year; Q4 revenue was $85.8M, up 43% year-over-year.
Read all positive updates
Company Guidance
Xeris guided full‑year 2026 total revenue of $375M–$390M (which represents more than 30% growth at the midpoint versus 2025 total revenue of $291.8M and Q4 revenue of $85.8M), said it will remain adjusted‑EBITDA positive and that adjusted‑EBITDA will grow in absolute dollars versus 2025’s $59.4M, expects a modest improvement in gross margin versus 2025 (FY gross margin 85%, Q4 87%) with gross‑to‑net broadly steady, plans to step up R&D by approximately $25M to support initiation of the XP‑8121 Phase III in H2 2026 (2025 R&D was $31.2M), will increase SG&A by roughly $45M to fund a near‑doubling of the commercial footprint (2025 SG&A was $182.4M), expects partnerships/other revenue to remain in the historical ~5–10% range, and highlighted product metrics (Recorlev ~700 patients and $139.3M FY revenue, >100% growth; Gvoke $94.1M FY, ~14% growth; Keveyis $47.6M FY) along with long‑term peak sales assumptions of $1B for Recorlev by 2035 and $1–3B potential peak sales for XP‑8121.Xeris Pharmaceuticals Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
42
Neutral
Cash Flow
67
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 291.85M | 203.07M | 163.91M | 110.25M | 49.59M |
| Gross Profit | 238.43M | 166.24M | 135.27M | 87.61M | 36.27M |
| EBITDA | 12.71M | -13.99M | -23.73M | -69.31M | -113.67M |
| Net Income | 554.00K | -54.84M | -62.26M | -94.66M | -122.72M |
Balance Sheet | |||||
| Total Assets | 383.53M | 323.06M | 322.60M | 344.52M | 304.36M |
| Cash, Cash Equivalents and Short-Term Investments | 111.04M | 71.62M | 72.45M | 121.97M | 102.43M |
| Total Debt | 37.76M | 271.45M | 229.19M | 198.06M | 88.07M |
| Total Liabilities | 369.84M | 352.68M | 329.38M | 299.33M | 209.13M |
| Stockholders Equity | 13.69M | -29.61M | -6.78M | 45.19M | 95.23M |
Cash Flow | |||||
| Free Cash Flow | 27.93M | -37.85M | -49.29M | -103.42M | -103.42M |
| Operating Cash Flow | 28.63M | -36.98M | -47.02M | -102.89M | -102.89M |
| Investing Cash Flow | -696.00K | 4.88M | -6.00M | 34.46M | 34.46M |
| Financing Cash Flow | 11.39M | 36.17M | -1.61M | 127.47M | 27.25M |
Xeris Pharmaceuticals Technical Analysis
Negative
5.30
Price Trends
6.59
Negative
7.03
Negative
6.90
Negative
Market Momentum
-0.35
Negative
33.34
Neutral
24.82
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For XERS, the sentiment is Negative. The current price of 5.3 is below the 20-day moving average (MA) of 5.73, below the 50-day MA of 6.59, and below the 200-day MA of 6.90, indicating a bearish trend. The MACD of -0.35 indicates Negative momentum. The RSI at 33.34 is Neutral, neither overbought nor oversold. The STOCH value of 24.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
61 Neutral | $1.99B | -273.00 | -2.05% | ― | 1128.17% | ― | |
59 Neutral | $1.83B | -12.03 | -26.00% | ― | 116.21% | 43.93% | |
57 Neutral | $1.39B | -12.79 | -28.85% | ― | ― | -37.07% | |
56 Neutral | $960.44M | 2,273.17 | -5.33% | ― | 42.05% | 76.50% | |
56 Neutral | $2.66B | -7.25 | -65.77% | ― | -8.75% | -8.79% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $2.18B | -6.38 | -206.62% | ― | 597.19% | 0.45% |
* Healthcare Sector Average
XERS
Xeris Pharmaceuticals
5.57
-0.06
-1.07%
SNDX
Syndax Pharmaceuticals
24.70
11.14
82.15%
ZYME
Zymeworks
24.69
12.18
97.36%
RCUS
Arcus Biosciences
21.21
12.72
149.82%
STOK
Stoke Therapeutics
33.70
26.25
352.35%
RAPP
Rapport Therapeutics, Inc.
29.00
19.30
198.97%
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.