Xeris Biopharma Holdings, Inc.
- Open
- 7.95
- Day high
- 8.20
- Day low
- 7.91
- Prev close
- 7.92
- Volume
- 1.8M
- Mkt cap
- $1.4B
- P/E (TTM)
- 113.0
- EPS (TTM)
- $0.07
- P/B
- 106.2
- P/S
- 4.4
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$707K over the last 3 months (0 open-market buys, 7 sales)
- 🏛Institutions accumulating (13F)
Xeris Biopharma Holdings, Inc. (XERS) is a Healthcare company listed on NASDAQ. The stock is up 70% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 7 sales (SEC Form 4).
Xeris Biopharma Holdings, Inc. (XERS) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
XERS earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $-0.00 | $0.01 | +465.0% | $82M | +3.3% |
| Nov 6, 2025 | $0.01 | $0.00 | -65.0% | $74M | -13.5% |
| Aug 7, 2025 | $-0.03 | $-0.01 | +66.7% | $72M | -1.0% |
| May 8, 2025 | $-0.07 | $-0.06 | +14.3% | $60M | +4.4% |
| Mar 6, 2025 | $-0.08 | $-0.03 | +62.5% | $60M | +9.5% |
| Nov 8, 2024 | $-0.09 | $-0.06 | +33.3% | $54M | +5.5% |
| Aug 8, 2024 | $-0.11 | $-0.10 | +9.1% | $48M | +4.9% |
| May 9, 2024 | $-0.12 | $-0.14 | -16.7% | $41M | -2.8% |
| Mar 6, 2024 | $-0.09 | $-0.10 | -11.1% | $44M | -3.1% |
| Nov 9, 2023 | $-0.12 | $-0.09 | +25.0% | $48M | +13.2% |
| Mar 8, 2023 | $-0.16 | $-0.10 | +37.5% | $33M | +7.0% |
| Nov 9, 2022 | $-0.17 | $-0.14 | +17.6% | $30M | +2.3% |
XERS insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 5, 2026 | Brady James Aloysiusdirector | Grant | 24,193 | — |
| Jun 5, 2026 | PERSKY MARLAdirector | Grant | 24,193 | — |
| Jun 5, 2026 | PERSKY MARLAdirector | Grant | 32,996 | $6.15 |
| Jun 5, 2026 | HALKUFF DAWNdirector | Sell | 20,000 | $6.09 |
| Jun 5, 2026 | HALKUFF DAWNdirector | Grant | 24,193 | — |
| Jun 5, 2026 | HALKUFF DAWNdirector | Grant | 32,996 | $6.15 |
| Jun 5, 2026 | BORMANN-KENNEDY BARBARA-JEAN ANNEdirector | Sell | 16,000 | $6.09 |
| Jun 5, 2026 | BORMANN-KENNEDY BARBARA-JEAN ANNEdirector | Grant | 24,193 | — |
| Jun 5, 2026 | BORMANN-KENNEDY BARBARA-JEAN ANNEdirector | Grant | 32,996 | $6.15 |
| Jun 5, 2026 | JOHNSON JOHNdirector | Sell | 15,000 | $6.09 |
| Jun 5, 2026 | Kong Garhengdirector | Grant | 32,996 | $6.15 |
| Jun 5, 2026 | Kong Garhengdirector | Grant | 24,193 | — |
| Jun 5, 2026 | PERSKY MARLAdirector | Sell | 15,500 | $5.90 |
| Jun 5, 2026 | Brady James Aloysiusdirector | Grant | 32,996 | $6.15 |
| Jun 5, 2026 | JOHNSON JOHNdirector | Grant | 24,193 | — |
Source: XERS SEC Form 4 filings, latest Jun 5, 2026. For informational purposes only — not investment advice.
See the full XERS insider & 13F page →Xeris Biopharma Holdings, Inc. company profile
Overview
Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) is a biopharmaceutical company founded in 2005 and headquartered in Chicago, Illinois. The company went public in June 2018 and focuses on developing and commercializing therapies for patient populations in endocrinology, neurology, and gastroenterology. Xeris has successfully transitioned from a development-stage company to a commercial-stage biopharmaceutical enterprise with three marketed products and a growing pipeline. The company leverages its proprietary formulation technology platforms, XeriSol and XeriJect, to create innovative drug delivery solutions for both its own products and through technology partnerships with other pharmaceutical companies.
Business
Xeris Biopharma operates in the specialty pharmaceutical sector, focusing on rare and underserved medical conditions that require specialized treatments. The biopharmaceutical industry involves the discovery, development, manufacturing, and commercialization of drugs derived from biological sources or using biotechnology processes. The company's commercial portfolio consists of three primary products. Gvoke is a ready-to-use liquid glucagon injection used to treat severe hypoglycemia (dangerously low blood sugar) in people with diabetes. Hypoglycemia is a serious condition that can lead to unconsciousness or death if not treated quickly. Traditional glucagon treatments required complex mixing procedures during emergency situations, making them difficult to use. Gvoke's ready-to-use formulation eliminates this complexity, making it more accessible for patients, caregivers, and healthcare providers during critical moments. Recorlev is a cortisol synthesis inhibitor approved for treating endogenous hypercortisolemia in adult patients with Cushing's syndrome. Cushing's syndrome is a rare disorder caused by prolonged exposure to high levels of the hormone cortisol, leading to serious health complications including diabetes, high blood pressure, and muscle weakness. Recorlev works by blocking the production of excess cortisol, helping to normalize hormone levels and improve patient outcomes. Keveyis is a therapy for treating hyperkalemic, hypokalemic, and related variants of primary periodic paralysis. This rare genetic disorder causes episodes of muscle weakness or paralysis due to changes in potassium levels in the blood. Keveyis helps prevent these debilitating episodes by regulating ion channels in muscle cells. Based on recent financial data, Gvoke represents approximately 40% of total revenue, Recorlev accounts for about 32%, and Keveyis contributes roughly 23%, with the remainder coming from partnership revenues and milestone payments from the company's technology licensing agreements.
Revenue model
Xeris generates revenue through multiple streams within its business model. The primary revenue source is product sales from its three commercial products sold directly to specialty pharmacies, hospitals, and healthcare providers. The company employs a specialized sales force that targets endocrinologists, emergency medicine physicians, and other relevant healthcare professionals who treat patients with the specific conditions addressed by Xeris's therapies. The company also generates partnership revenue through licensing agreements and collaborations where other pharmaceutical companies utilize Xeris's proprietary XeriSol and XeriJect formulation technologies. These partnerships typically involve upfront payments, milestone payments upon achieving development or regulatory milestones, and potential royalties on commercialized products. Recent partnerships include collaborations with companies like American Regent, Regeneron, and Amgen. Several factors influence Xeris's margins and profitability. Positive margin drivers include the company's focus on rare disease markets with limited competition, allowing for premium pricing. The specialized nature of these treatments creates strong physician and patient loyalty, supporting pricing power. Additionally, as the company scales its commercial operations, it benefits from operating leverage where fixed costs are spread across growing revenue bases. Margin pressures come from generic competition, particularly affecting Keveyis, which faces potential generic entrants. The company must also invest significantly in sales and marketing to educate healthcare providers about rare conditions and drive adoption of newer therapies like Recorlev. Regulatory requirements for rare disease drugs involve ongoing safety monitoring and reporting costs. Manufacturing costs for specialized formulations using proprietary technologies can be higher than traditional pharmaceutical manufacturing, though this is partially offset by the premium pricing these products command.
Competitive moat
Xeris Biopharma's competitive moat is moderately strong but varies across its product portfolio. The company's primary moat stems from its proprietary formulation technologies, XeriSol and XeriJect, which enable the creation of ready-to-use, stable formulations of drugs that traditionally required complex preparation or had stability challenges. This technological advantage is protected by patents and trade secrets, creating barriers to entry for competitors. In the glucagon market with Gvoke, Xeris benefits from first-mover advantage in the ready-to-use segment and has built strong relationships with healthcare providers and patients. However, this moat faces pressure from new entrants like Amphastar, though the company appears to be maintaining market share through superior product characteristics and established market presence. For Recorlev, the moat is stronger due to the highly specialized nature of Cushing's syndrome treatment and the limited number of effective therapies available. The company's deep expertise in cortisol synthesis inhibition and established relationships with endocrinologists treating this rare condition create significant switching costs for physicians and patients. Keveyis faces the most competitive pressure as it operates in a market susceptible to generic competition. The company's moat here relies primarily on brand loyalty, patient support services, and physician relationships built over years of market presence. The company's potential vulnerabilities include the relatively small market sizes for rare diseases, which limit growth potential, and the risk of new competitive technologies that could bypass Xeris's formulation advantages. Additionally, the company's dependence on a small number of products creates concentration risk, though the pipeline development of XP-8121 for hypothyroidism represents a significant market expansion opportunity.
Risks & safety
Xeris Biopharma presents a moderate margin of safety with improving financial metrics but some lingering concerns. **Cash and Debt Position:** - Cash and short-term investments: $58.4 million as of Q1 2025 - Total liabilities exceed total assets, creating negative book value - Debt-to-equity ratio of -7.65 indicates overleveraged balance sheet structure - However, the company achieved positive adjusted EBITDA in Q4 2024 and maintained it in Q1 2025 **Operational Cash Flow:** - Free cash flow turned positive in Q4 2024 ($1.8 million) but negative in Q1 2025 (-$10.0 million) - Company expects continued adjusted EBITDA positivity throughout 2025 - Current cash position provides approximately 12-18 months of runway at current burn rates **Valuation Metrics:** - Current ratio of 1.72 indicates adequate short-term liquidity - EV/EBITDA multiple not meaningful due to recent EBITDA volatility - Revenue growth of 48% year-over-year demonstrates strong commercial execution **Other Considerations:** - Recent convertible note redemption reduces future dilution risk - Growing commercial revenue base provides increasing stability - Pipeline asset XP-8121 offers significant market expansion potential if successful
Recent development
Over the past few years, Xeris has executed several strategic initiatives that have transformed the company from a development-stage to a profitable commercial enterprise. The most significant development has been the rapid growth of Recorlev, which launched in early 2022 and has shown exceptional adoption with 141% year-over-year growth in Q1 2025. The company expanded its Recorlev sales team by 50% to capitalize on this opportunity and support continued market penetration. The company achieved a major milestone by reaching positive adjusted EBITDA in Q4 2024 and maintaining profitability into 2025, marking its transition to sustainable operations. This achievement was driven by strong commercial execution across all three products and disciplined cost management. Pipeline advancement represents another key strategic focus, particularly with XP-8121, a once-weekly levothyroxine formulation for hypothyroidism treatment. The company completed positive Phase 2 results and is preparing for Phase 3 studies, with FDA discussions ongoing. This program represents a significant market expansion opportunity, as hypothyroidism affects millions of patients compared to the rare disease markets Xeris currently serves. The company has also strengthened its technology partnership strategy, securing collaborations with major pharmaceutical companies including American Regent for Gvoke VialDx, and ongoing partnerships with Regeneron and Amgen. These partnerships provide additional revenue streams and validate the commercial value of Xeris's proprietary formulation technologies. Recent regulatory achievements include FDA approval of Gvoke VialDx, a hospital-use formulation that expands the product's market reach beyond the traditional retail pharmacy setting. The company has also enhanced its investor communication strategy, planning regular analyst and investor days to provide greater transparency into its long-term value creation strategy.
XERS company profile · for informational purposes only — not investment advice.
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