Oppenheimer analyst Leland Gershell initiated coverage of Xeris Biopharma with an Outperform rating and $5 price target. The analyst believes successful commercial execution around the company’s portfolio of three specialty drug products will continue to drive seas growth, while “disciplined” spend should enable consistent profitability within 2-3 years. Xeris’ XeriJect formulation platform has attracted deals with Amgen and Regeneron, and its broad potential for intravenous-to-subcutaneous lifecycle management with key advantages over Halozymeb could lead to additional industry partnerships over time, the analyst tells investors in a research note. The firm thinks the XP-8121 Phase 2 data, to come mid-year, will increase confidence in the candidate’s potential $1B-plus sales opportunity and catalyze investor interest.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on XERS:
- Acelyrin price target raised to $13 from $11 at Wells Fargo
- Biotech Alert: Searches spiking for these stocks today
- Xeris Biopharma price target raised to $6 from $5.50 at H.C. Wainwright
- Xeris Biopharma refinances senior secured term loan agreement with Hayfin
- Xeris Biopharma sees FY24 revenue $170M-$200M, consensus $188.01M