Craig-Hallum bullish on Xeris Biopharma, initiates with a Buy

As previously reported, Craig-Hallum initiated coverage of Xeris Biopharma with a Buy rating and $4.50 price target. The firm believes Xeris is a unique asset, with a diversified revenue base and three commercial-stage drugs targeting over $7.5B in combined TAM and addressing meaningful unmet needs. The stock is trading at just 2.5-times 2023 revenues despite the two key assets being very early in their growth curves, Craig-Hallum adds. With sustained 20% revenue growth ahead of the company and breakeven on the doorstep, the firm argues that it is time for investors to get involved.