In a report released today, Difei Yang from Mizuho Securities maintained a Buy rating on Xeris Pharmaceuticals Inc (XERS). The company’s shares closed yesterday at $25.
Yang observed:
“We do not see earnings as the most meaningful indication of value for an early-stage biotech. During the quarter, Xeris announced that the FDA accepted for review the NDA for the company’s glucagon rescue pen. A PDUFA goal date was set for 06/10/19. We believe the potential regulatory approval of the glucagon rescue pen is likely to be the most important catalyst for the shares in 2019. Assuming approval, we believe Xeris will be well positioned to take market share away from standard of care products. We updated our model. Our PT goes to $27/Reiterate Buy.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 19.7% and a 48.3% success rate. Yang covers the Healthcare sector, focusing on stocks such as Alder Biopharmaceuticals, Audentes Therapeutics, and Revance Therapeutics.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Xeris Pharmaceuticals Inc.
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The company has a one-year high of $27.98 and a one-year low of $15.75. Currently, Xeris Pharmaceuticals Inc has an average volume of 90.82K.
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Xeris Pharmaceuticals, Inc.is a pharmaceutical company. It offers XeriSol™ and XeriJect™ formulation technologies. The firm focuses on the development of patient-friendly injectable drugs to address unmet medical needs. The company was founded by Steven Prestrelski and John Kinzell in 2005 and is headquartered in Austin, TX.
