H.C. Wainwright analyst Brandon Folkes reiterated a Buy rating on Xeris Pharmaceuticals today and set a price target of $10.00.
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Brandon Folkes has given his Buy rating due to a combination of factors that highlight Xeris Pharmaceuticals’ strong performance and growth potential. The company reported a robust quarter with its first GAAP profitable quarter, driven by impressive commercial performance. Xeris’ stock has shown significant appreciation, up 124% year-to-date, which reflects investor confidence despite recent stock weakness attributed to high expectations rather than fundamental issues.
Recorlev, a key growth driver for Xeris, demonstrated a 109% year-over-year revenue increase, supporting its long-term sales potential. The company’s gross margin expanded to 85%, indicating improved product mix and operational efficiency. Additionally, Xeris is investing in its pipeline, including the promising XP-8121 program, which could become a blockbuster product. These factors, combined with a strategic valuation approach using a discounted cash flow model, underpin Folkes’ optimistic outlook on Xeris Pharmaceuticals.
In another report released on October 29, Oppenheimer also maintained a Buy rating on the stock with a $18.00 price target.