After RBC Capital and Jefferies gave Xeris Pharmaceuticals Inc (NASDAQ: XERS) a Buy rating last month, the company received another Buy, this time from Mizuho Securities. Analyst Difei Yang initiated coverage with a Buy rating on Xeris Pharmaceuticals Inc (NASDAQ: XERS) today and set a price target of $26. The company’s shares opened today at $18.55.
Yang observed:
“We see a significant growth opportunity for the ready-to-use glucagon rescue pen as more healthcare professionals (HCPs) prescribe an easier option for patients with diabetes at risk of severe hypoglycemia. With a planned NDA submission in 3Q18, we anticipate FDA approval in mid-2019. We are initiating with a Buy rating and a $26 PT.”
According to TipRanks.com, Yang is a top 100 analyst with an average return of 24.8% and a 55.6% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Alder Biopharmaceuticals, and Audentes Therapeutics.
Xeris Pharmaceuticals Inc has an analyst consensus of Moderate Buy, with a price target consensus of $23.50, implying a 26.7% upside from current levels. In a report released today, RBC Capital also initiated coverage with a Buy rating on the stock with a $24 price target.
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The company has a one-year high of $22.37 and a one-year low of $15.75. Currently, Xeris Pharmaceuticals Inc has an average volume of 202.2K.
Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of XERS in relation to earlier this year.
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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.
