Xeris Biopharma Q3 product revenue beats estimates on Recorlev demand

Overview

• U.S. endocrine drugmaker's Q3 product revenue rose 44%, beating analyst expectations

• Company Q3 net income increased sharply from prior year

• Company raised full-year 2026 revenue guidance and 2030 outlook

Outlook

• Company raises 2026 total revenue guidance to $395 mln–$405 mln

• Xeris raises 2030 total revenue outlook to over $1 bln from about $750 mln

• Company expects Recorlev to reach nearly $1 bln annual net revenue 3-4 years earlier

Result Drivers

• RECORLEV DEMAND - Co said Q3 revenue growth was primarily driven by increased patient demand for Recorlev, aided by expanded commercial team and higher referrals

• GVOKE DEMAND AND ADJUSTMENT - Gvoke saw increased back-to-school prescription demand, but results were offset by a one-time gross-to-net adjustment

• PRODUCT MIX - Gross margin improvement attributed to favorable product mix

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the pharmaceuticals peer group is "buy"

• Wall Street's median 12-month price target for Xeris Biopharma Holdings, Inc. is $12.00, about 14.7% above its November 4 closing price of $10.46

• The stock recently traded at 42 times the next 12-month earnings vs. a P/E of 37 three months ago

Reuters Recommended Reads

• Nov 3 - Corcept Therapeutics Q3 revenue beats estimates on strong Lifyorli uptake

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• Nov 3 - Madrigal Q3 Rezdiffra sales jump on strong demand, posts first profit

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)