Two 59%+ winners, four above 25% in Aug – How this AI model keeps picking winners
Xeris Pharmaceuticals , Inc. (NASDAQ:XERS) has reached a new 52-week high, with its stock price climbing to $3.87. This milestone reflects a significant uptrend for the company, which has seen an impressive 1-year return of 11.49%. According to InvestingPro data, the company has demonstrated robust momentum with a 33.46% gain over the past six months, supported by strong revenue growth of 22.72% in the last twelve months. The surge to the 52-week high represents a notable achievement for Xeris Pharmaceuticals, indicating a period of robust performance and investor confidence. With a market capitalization of $567 million and analyst price targets reaching as high as $6.60, the stock has attracted significant attention. InvestingPro analysis suggests the stock is slightly overvalued at current levels, with two analysts recently revising their earnings expectations upward for the upcoming period. For deeper insights and additional ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Xeris Biopharma Holdings, Inc. exceeded its 2024 revenue guidance with a projection of $203 million, surpassing the previously anticipated range of $198 to $202 million. This includes a boost from Recorlev®, a treatment for endogenous Cushing’s syndrome, which saw a significant increase in net revenue. The company also reported a record number of new starts and referrals for Recorlev®. Moreover, Xeris received a milestone payment of $3 million from Beta Bionics, Inc., for a unique XeriSol® glucagon formulation for bi-hormonal pumps and pump systems.
However, Amgen (NASDAQ:AMGN) has ended its exclusive worldwide license agreement with Xeris, a decision unrelated to the performance of the XeriJect® formulation technology and not expected to significantly affect Xeris’s financial outlook. Despite this, the company remains optimistic, with CEO John Shannon highlighting the strong demand for Recorlev and Gvoke as key drivers of revenue growth. He also underscored the company’s robust pipeline, especially the Phase 3 ready XP-8121 program for hypothyroidism, as a foundation for a transformative 2025. These recent developments suggest a positive trajectory for Xeris Biopharma.
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