In a report released today, Difei Yang from Mizuho Securities maintained a Buy rating on Xeris Pharmaceuticals Inc (XERS), with a price target of $27. The company’s shares closed yesterday at $9.84, close to its 52-week low of $9.21.
“We believe this financing is positive for a number of reasons: 1) Provides financing through 2022, by which time we believe Xeris can be cash break-even; 2) Allows management to focus on the Gvoke HypoPen launch, 3) Avoids the potential pitfall of “short the launch” phenomenon, 4) Creates opportunities for higher long-term growth by optimal upfront investment in the company. We maintain our Buy rating and $27 PT assuming Gvoke Hypopen NDA approval in ~50% market share 6-7 years post launch.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 15.8% and a 47.4% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Alder Biopharmaceuticals, and Audentes Therapeutics.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Xeris Pharmaceuticals Inc with a $27 average price target.
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Based on Xeris Pharmaceuticals Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $14.77 million. In comparison, last year the company had a GAAP net loss of $7.53 million.
Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is negative on the stock.
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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.