Tearsheet

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 41%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 15%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 15%

Megatrend and thematic drivers
Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Biopharmaceutical R&D, Targeted Therapies, Show more.

Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 29x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 24x, P/EPrice/Earnings or Price/(Net Income) is 98x

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.2%

Key risks
XERS key risks include [1] its dependence on a limited product lineup and a history of unprofitability, Show more.

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 41%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 15%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 15%
2 Megatrend and thematic drivers
Megatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Biopharmaceutical R&D, Targeted Therapies, Show more.
3 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 29x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 24x, P/EPrice/Earnings or Price/(Net Income) is 98x
4 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.2%
5 Key risks
XERS key risks include [1] its dependence on a limited product lineup and a history of unprofitability, Show more.

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 6/11/2026

Xeris Biopharma (XERS) stock has gained about 15% since 2/28/2026 because of the following key factors:

1. Xeris Biopharma reported strong financial results for fiscal Q1 2026, significantly surpassing earnings per share (EPS) expectations and returning to profitability. The company announced on May 7, 2026, an EPS of $0.01, beating the consensus estimate of -$0.00 to -$0.0085. Additionally, Xeris achieved a net income of $2.2 million, marking a return to profitability for the first time in several quarters, and its adjusted EBITDA improved by $10.7 million compared to fiscal Q1 2025, reaching $15.1 million.

2. The company raised its full-year 2026 revenue guidance, fueled by robust performance from its key commercial products, particularly Recorlev. Following the strong fiscal Q1 2026 results, Xeris Biopharma increased the lower end of its full-year 2026 revenue guidance to a range of $380 million to $390 million, implying over 30% revenue growth at the midpoint compared to 2025. This updated outlook was largely driven by Recorlev, which saw its net revenue nearly double, growing 95% year-over-year to $49.8 million in fiscal Q1 2026.

Show more
Updated on 6/11/2026

Xeris Biopharma (XERS) stock has gained about 15% since 2/28/2026 because of the following key factors:

1. Xeris Biopharma reported strong financial results for fiscal Q1 2026, significantly surpassing earnings per share (EPS) expectations and returning to profitability. The company announced on May 7, 2026, an EPS of $0.01, beating the consensus estimate of -$0.00 to -$0.0085. Additionally, Xeris achieved a net income of $2.2 million, marking a return to profitability for the first time in several quarters, and its adjusted EBITDA improved by $10.7 million compared to fiscal Q1 2025, reaching $15.1 million.

2. The company raised its full-year 2026 revenue guidance, fueled by robust performance from its key commercial products, particularly Recorlev. Following the strong fiscal Q1 2026 results, Xeris Biopharma increased the lower end of its full-year 2026 revenue guidance to a range of $380 million to $390 million, implying over 30% revenue growth at the midpoint compared to 2025. This updated outlook was largely driven by Recorlev, which saw its net revenue nearly double, growing 95% year-over-year to $49.8 million in fiscal Q1 2026.

3. Xeris Biopharma secured extended intellectual property protection for its product Keveyis. On June 11, 2026, the company announced that the U.S. Patent and Trademark Office issued a Notice of Allowance for a new patent covering Keveyis, its therapy for primary periodic paralysis. This patent is expected to provide intellectual property protection for Keveyis through 2039, helping to shield this revenue stream from generic competition, especially since its orphan drug exclusivity expired in August 2022.

4. The company announced a strategic debt exchange agreement to strengthen its balance sheet. On June 11, 2026, Xeris Biopharma disclosed a private exchange agreement to retire approximately $23 million in principal of its 8.00% convertible senior notes due in 2028. This move is intended to enhance the company's balance sheet, reduce future dilution, and decrease annual cash interest expenses by approximately $2 million.

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Stock Movement Drivers

Fundamental Drivers

The 12.7% change in XERS stock from 2/28/2026 to 6/17/2026 was primarily driven by a 18.3% change in the company's Total Revenues ($ Mil).
(LTM values as of)22820266172026Change
Stock Price ($)6.126.9012.7%
Change Contribution By: 
Total Revenues ($ Mil)26631518.3%
P/S Multiple4.13.7-8.5%
Shares Outstanding (Mil)1781714.2%
Cumulative Contribution12.7%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/17/2026
ReturnCorrelation
XERS12.7% 
Market (SPY)8.3%33.8%
Sector (XLV)-5.5%35.9%

Fundamental Drivers

The -3.9% change in XERS stock from 11/30/2025 to 6/17/2026 was primarily driven by a -22.0% change in the company's P/S Multiple.
(LTM values as of)113020256172026Change
Stock Price ($)7.186.90-3.9%
Change Contribution By: 
Total Revenues ($ Mil)26631518.3%
P/S Multiple4.83.7-22.0%
Shares Outstanding (Mil)1781714.2%
Cumulative Contribution-3.9%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/17/2026
ReturnCorrelation
XERS-3.9% 
Market (SPY)9.0%18.4%
Sector (XLV)-3.6%9.8%

Fundamental Drivers

The 39.7% change in XERS stock from 5/31/2025 to 6/17/2026 was primarily driven by a 41.5% change in the company's Total Revenues ($ Mil).
(LTM values as of)53120256172026Change
Stock Price ($)4.946.9039.7%
Change Contribution By: 
Total Revenues ($ Mil)22331541.5%
P/S Multiple3.43.710.4%
Shares Outstanding (Mil)152171-10.6%
Cumulative Contribution39.7%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/17/2026
ReturnCorrelation
XERS39.7% 
Market (SPY)27.2%19.6%
Sector (XLV)15.6%6.8%

Fundamental Drivers

The 169.5% change in XERS stock from 5/31/2023 to 6/17/2026 was primarily driven by a 159.4% change in the company's Total Revenues ($ Mil).
(LTM values as of)53120236172026Change
Stock Price ($)2.566.90169.5%
Change Contribution By: 
Total Revenues ($ Mil)121315159.4%
P/S Multiple2.93.729.2%
Shares Outstanding (Mil)137171-19.6%
Cumulative Contribution169.5%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2023 to 6/17/2026
ReturnCorrelation
XERS169.5% 
Market (SPY)84.3%29.3%
Sector (XLV)23.9%23.7%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
XERS Return-40%-55%77%44%132%-12%40%
Peers Return31%13%60%24%3%20%260%
S&P 500 Return27%-19%24%23%16%10%100%

Monthly Win Rates [3]
XERS Win Rate42%33%58%75%75%50% 
Peers Win Rate52%53%58%55%48%53% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
XERS Max Drawdown-76%-61%-51%-47%-35%-35% 
Peers Max Drawdown-28%-31%-30%-31%-46%-32% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: CORT, AMPH, LLY, CRNX, HALO.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/17/2026 (YTD)

How Low Can It Go

EventXERSS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-39.0%-9.5%
  % Gain to Breakeven63.9%10.5%
  Time to Breakeven50 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-56.6%-24.5%
  % Gain to Breakeven130.3%32.4%
  Time to Breakeven208 days427 days
2020 COVID-19 Crash
  % Loss-68.3%-33.7%
  % Gain to Breakeven215.8%50.9%
  Time to Breakeven65 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-13.7%-19.2%
  % Gain to Breakeven15.9%23.8%
  Time to Breakeven15 days105 days

Compare to CORT, AMPH, LLY, CRNX, HALO

In The Past

Xeris Biopharma's stock fell -7.8% during the 2025 US Tariff Shock. Such a loss loss requires a 8.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventXERSS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-39.0%-9.5%
  % Gain to Breakeven63.9%10.5%
  Time to Breakeven50 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-56.6%-24.5%
  % Gain to Breakeven130.3%32.4%
  Time to Breakeven208 days427 days
2020 COVID-19 Crash
  % Loss-68.3%-33.7%
  % Gain to Breakeven215.8%50.9%
  Time to Breakeven65 days140 days

Compare to CORT, AMPH, LLY, CRNX, HALO

In The Past

Xeris Biopharma's stock fell -7.8% during the 2025 US Tariff Shock. Such a loss loss requires a 8.5% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Xeris Biopharma (XERS)

Xeris Biopharma Holdings, Inc. (XERS) is a biopharmaceutical company dedicated to developing and commercializing specialized therapies. The company strategically focuses on addressing critical medical needs within specific patient populations across the fields of endocrinology, neurology, and gastroenterology.

Xeris currently markets three key products. These include Gvoke, a ready-to-use liquid glucagon specifically designed for the treatment of severe hypoglycemia; Keveyis, a therapy indicated for hyperkalemic, hypokalemic, and related variants of primary periodic paralysis; and Recorlev, a cortisol synthesis inhibitor approved for managing endogenous hypercortisolemia in adult patients with Cushing's syndrome.

In addition to its marketed portfolio, Xeris maintains a robust pipeline of development programs. These initiatives aim to extend the use of current products into new indications and applications, as well as to introduce new therapies. The company leverages its proprietary formulation technology platforms, XeriSol and XeriJect, to support these development efforts and enhance drug delivery.

AI Analysis | Feedback

Here are 1-3 brief analogies for Xeris Biopharma (XERS):

  • Like a BioMarin Pharmaceuticals focused on specialized conditions in endocrinology and neurology.
  • Think of it as a Jazz Pharmaceuticals that uses proprietary formulation technology to develop and commercialize specialized therapies.

AI Analysis | Feedback

  • Gvoke: A ready-to-use liquid glucagon for the treatment of severe hypoglycemia.
  • Keveyis: A therapy for the treatment of hyperkalemic, hypokalemic, and related variants of primary periodic paralysis.
  • Recorlev: A cortisol synthesis inhibitor approved for the treatment of endogenous hypercortisolemia in adult patients with Cushing's syndrome.

AI Analysis | Feedback

Xeris Biopharma (XERS) primarily sells its pharmaceutical products to a limited number of major wholesale drug distributors in the U.S. These distributors then sell the products to pharmacies, hospitals, and other healthcare providers.

The major customer companies are:

  • AmerisourceBergen Corporation (NYSE: ABC)
  • Cardinal Health, Inc. (NYSE: CAH)
  • McKesson Corporation (NYSE: MCK)

AI Analysis | Feedback

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AI Analysis | Feedback

John Shannon, Chief Executive Officer

John Shannon was appointed Chief Executive Officer in August 2024. He joined Xeris in 2017 as Chief Operating Officer and was promoted to President in 2020. Mr. Shannon has over 35 years of experience in the pharmaceutical and healthcare industry. Prior to Xeris, he served as CEO and Director for Catheter Connections, Inc. through its acquisition by Merit Medical in January 2016. Before that, he was Chief Commercial Officer for Durata Therapeutics, which was acquired by Actavis (now Allergan) in November 2014. He also held several roles at Baxter Healthcare.

Steven Pieper, Chief Financial Officer

Steven Pieper is the Chief Financial Officer of Xeris, a role he assumed in July 2021 after serving as Vice President of Finance since joining the company in 2017. He brings over 20 years of experience in the life science industry. Prior to Xeris, Mr. Pieper served as the CFO and COO of Catheter Connections Inc., which was acquired by Merit Medical in January 2016. He also held the position of Director of Finance at Durata Therapeutics Inc., a biopharmaceutical company that was acquired by Actavis (now Allergan) in November 2014. Mr. Pieper began his career in healthcare at Baxter Healthcare Corporation.

Kevin McCulloch, President and Chief Operating Officer

Kevin McCulloch was named President and Chief Operating Officer of Xeris in August 2024. He joined Xeris Pharmaceuticals in October 2018 as Senior Vice President, Global Operations and Business Development and was appointed Chief Commercial Officer in September 2021. Mr. McCulloch has over 35 years of experience in the pharmaceutical and medical device industry in various leadership and general management roles.

Beth P. Hecht, Chief Legal Officer and Corporate Secretary

Beth P. Hecht serves as the Chief Legal Officer and Corporate Secretary of Xeris Pharmaceuticals. She has over 25 years of experience as a corporate executive in the life science industry, most recently serving as Managing Director and Chief Legal and Administrative Officer for Auven Therapeutics, a global biotechnology and pharmaceutical private equity firm. Ms. Hecht is currently a member of the Board of Directors of Iterum Therapeutics (Nasdaq: ITRM) and previously served on the Board of Directors of Neos Therapeutics.

Anh Nguyen, MD, MBA, Chief Medical Officer

Anh Nguyen, MD, MBA, is the Chief Medical Officer of Xeris. She joined the company in February 2025, where she steers clinical development and medical affairs.

AI Analysis | Feedback

Here are the key risks to Xeris Biopharma's business:

  1. Intellectual Property Protection and Patent Litigation: Xeris Biopharma's business heavily relies on the patent protection and market exclusivity of its key products, particularly Recorlev. The company recently filed patent infringement lawsuits to prevent generic versions of Recorlev from entering the market until its patents expire in March 2040, underscoring the critical nature of intellectual property for long-term revenue. Any adverse outcomes from such litigation or the loss of patent exclusivity could significantly impact the commercial viability and revenue potential of its products.
  2. Intense Competition and Market Pressure: Xeris Biopharma operates in highly competitive therapeutic areas, facing established pharmaceutical giants and emerging biotechnology firms. Products like Gvoke face competition from legacy glucagon products from companies such as Eli Lilly and Novo Nordisk, as well as the potential threat of newer nasal and oral glucagon alternatives. Similarly, Recorlev and Keveyis face competition, including from generic alternatives that have already impacted Keveyis. This intense competitive landscape, characterized by pricing pressure, the vast sales forces of larger rivals, and market access challenges, can significantly impact Xeris's market share and profitability.
  3. Reliance on a Limited Product Portfolio and Commercialization Success: The company's financial performance and future growth are largely dependent on the commercial success and market acceptance of its currently marketed products: Gvoke, Keveyis, and Recorlev. While Xeris has shown revenue growth, underperformance of this concentrated product lineup, or if rising research and development (R&D) and selling, general, and administrative (SG&A) expenses outpace revenue growth, could negatively affect its path to sustained profitability. The ability to successfully commercialize these products and any future pipeline candidates remains a critical risk.

AI Analysis | Feedback

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AI Analysis | Feedback

Xeris Biopharma (NASDAQ: XERS) markets therapies for endocrinology, neurology, and gastroenterology, including Gvoke, Keveyis, and Recorlev. Here are the addressable markets for their main products:
  • Gvoke (severe hypoglycemia): The U.S. addressable market for glucagon, which Gvoke addresses, includes approximately 8 million individuals taking insulin or at high risk for hypoglycemia, as mandated by ADA guidelines. Xeris's COO estimated in January 2025 that 15 million people with diabetes in the U.S. are at "outsized risk of having their blood sugar go too low," though only about 1 million currently carry a glucagon product. The U.S. glucagon delivery devices market size was estimated at $446.98 million in 2023 and is projected to grow at a Compound Annual Growth Rate (CAGR) of 8.33% from 2024 to 2030. The global glucagon market was estimated at $610.87 million in 2025 and is forecast to reach $852.85 million by 2031.
  • Keveyis (primary periodic paralysis): The U.S. addressable market for Keveyis is estimated to be 4,000-5,000 diagnosed patients with Primary Periodic Paralysis (PPP). PPP is a rare genetic condition causing episodes of muscle weakness or temporary paralysis.
  • Recorlev (Cushing's syndrome): The U.S. addressable market for Recorlev, which treats endogenous hypercortisolemia in adult patients with Cushing's syndrome, is comprised of a small patient population. There are fewer than 20,000 individuals diagnosed with Cushing's syndrome in the U.S., with even fewer having the endogenous hypercortisolemia diagnosis. More specifically, the Cushing's Syndrome market in the U.S. is estimated to have 3,000-4,500 patients. While not a direct market size, Xeris anticipates Recorlev to reach annual net revenues of approximately $1 billion by 2035. Earlier estimations from 2020 suggested a potential U.S. market for Recorlev of approximately $700 million per year based on roughly 2,000 ketoconazole-treated patients, and another source from 2020 indicated a potential $2 billion+ total addressable annual market in the U.S..

AI Analysis | Feedback

Xeris Biopharma (NASDAQ: XERS) is poised for future revenue growth over the next 2-3 years, driven by the strong performance of its commercial products and the advancement of its pipeline. Key drivers include:

  1. Accelerating Growth of Recorlev: Recorlev, a therapy for endogenous hypercortisolemia in adult patients with Cushing's syndrome, is consistently identified as Xeris's primary growth engine. The company has observed an accelerating demand for Recorlev, with its net revenue more than doubling in 2024 and experiencing over 100% growth in 2025. Xeris has significantly expanded its commercial footprint for Recorlev, including doubling its sales organization, to drive further adoption and anticipates a third commercial expansion in Q3 2026, aiming for $1 billion in peak sales by 2035.
  2. Continued Strong Demand and Market Share for Gvoke: Gvoke, a ready-to-use liquid glucagon for the treatment of severe hypoglycemia, continues to demonstrate strong demand and has maintained approximately 35% market share. The company expects Gvoke to achieve high single-digit to low double-digit growth, driven by increasing the number of protected patients and favorable net pricing. The recent approval of Gvoke VialDx also presents an opportunity for market expansion.
  3. Advancement of XP-8121 into Phase 3 Trials: Xeris's pipeline product, XP-8121, a once-weekly subcutaneous levothyroxine for hypothyroidism, is Phase 3 ready with trials targeted to begin in the second half of 2026. This asset holds significant long-term potential, with projected peak sales between $1 billion and $3 billion, representing a substantial future revenue stream as it progresses through clinical development.
  4. Resilience and Patient Growth of Keveyis: Despite facing generic competition, Keveyis, a therapy for primary periodic paralysis, has shown resilience. It maintained a stable patient base through Q4 2024 and returned to growth in Q4 2025, with increased patient numbers offsetting pricing pressures. Xeris continues to invest in Keveyis through prescriber outreach and enhanced patient services, positioning it as a steady contributor to the company's revenue.

AI Analysis | Feedback

Share Issuance

  • Xeris' issued share capital, excluding treasury shares, consisted of 66,497,370 shares of common stock as of July 28, 2021.
  • In May 2022, Xeris entered into an Open Market Sale Agreement to offer, issue, and sell up to $75.0 million of its common stock.
  • Total shares outstanding increased to 172,431,290 as of February 27, 2026, from 161,480,367 as of July 31, 2025.

Outbound Investments

  • Xeris acquired Strongbridge Biopharma plc in 2021 through a scheme of arrangement under Irish law, as outlined in a Transaction Agreement dated May 24, 2021.

Capital Expenditures

  • Capital expenditures were approximately $0.292 million for the six months ended June 30, 2025, and approximately $0.561 million for the six months ended June 30, 2024.
  • Beyond traditional capital expenditures, Xeris plans to significantly allocate capital to Research & Development (R&D), with an expected increase of approximately $25 million in R&D expenses in 2026 to initiate the Phase 3 study for XP-8121.
  • Another substantial allocation of capital is projected for Selling, General & Administrative (SG&A) expenses, with an anticipated increase of approximately $45 million in 2026, primarily for commercial expansion investments related to Recorlev.

Better Bets vs. Xeris Biopharma (XERS)

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Peer Comparisons

Peers to compare with:

Financials

XERSCORTAMPHLLYCRNXHALOMedian
NameXeris Bi.Corcept .Amphasta.Eli LillyCrinetic.Halozyme. 
Mkt Price6.9081.7519.411,112.0035.7568.5752.16
Mkt Cap1.28.50.9994.73.78.15.9
Rev LTM31576972172,250181,508745
Op Inc LTM36-811734,172-54684676
FCF LTM4812013310,368-420380127
FCF 3Y Avg-81411481,734-292433144
CFO LTM4912016920,480-414677145
CFO 3Y Avg-614118711,158-287537164

Growth & Margins

XERSCORTAMPHLLYCRNXHALOMedian
NameXeris Bi.Corcept .Amphasta.Eli LillyCrinetic.Halozyme. 
Rev Chg LTM41.5%12.2%-1.4%47.4%2,277.5%39.1%40.3%
Rev Chg 3Y Avg37.5%23.2%12.3%37.9%720.7%29.1%33.3%
Rev Chg Q38.3%4.9%0.4%55.5%2,873.4%42.2%40.2%
QoQ Delta Rev Chg LTM7.9%1.0%0.1%10.8%134.8%8.0%7.9%
Op Inc Chg LTM259.6%-107.4%-40.0%73.3%-44.9%41.5%0.7%
Op Inc Chg 3Y Avg113.9%-31.8%9.8%67.4%-44.3%51.1%30.5%
Op Mgn LTM11.4%-1.1%16.2%47.3%-3,020.3%56.1%13.8%
Op Mgn 3Y Avg-8.3%12.8%24.7%39.7%-21,720.5%51.7%18.8%
QoQ Delta Op Mgn LTM2.9%-7.0%-3.3%1.7%3,694.5%-1.4%0.2%
CFO/Rev LTM15.4%15.7%23.4%28.3%-2,292.2%44.9%19.5%
CFO/Rev 3Y Avg-6.9%21.9%26.4%19.2%-15,473.5%47.1%20.5%
FCF/Rev LTM15.1%15.6%18.4%14.4%-2,321.7%25.2%15.4%
FCF/Rev 3Y Avg-7.5%21.8%20.9%0.3%-15,749.2%39.9%10.6%

Valuation

XERSCORTAMPHLLYCRNXHALOMedian
NameXeris Bi.Corcept .Amphasta.Eli LillyCrinetic.Halozyme. 
Mkt Cap1.28.50.9994.73.78.15.9
P/S3.711.11.213.8206.05.48.2
P/Op Inc32.8-1,038.67.529.1-6.89.68.6
P/EBIT28.9-1,038.66.827.8-6.815.511.2
P/E98.0180.311.139.4-7.523.231.3
P/CFO24.270.95.248.6-9.012.018.1
Total Yield1.0%0.6%9.0%3.1%-13.3%4.3%2.1%
Dividend Yield0.0%0.0%0.0%0.6%0.0%0.0%0.0%
FCF Yield 3Y Avg-4.1%3.1%11.2%0.2%-8.4%6.5%1.6%
D/E0.20.00.80.00.00.30.1
Net D/E0.1-0.00.40.0-0.30.20.1

Returns

XERSCORTAMPHLLYCRNXHALOMedian
NameXeris Bi.Corcept .Amphasta.Eli LillyCrinetic.Halozyme. 
1M Rtn14.8%48.3%12.8%12.5%3.0%1.7%12.7%
3M Rtn27.1%145.5%2.2%21.3%-0.8%7.7%14.5%
6M Rtn-1.3%-0.6%-25.5%7.1%-25.0%4.3%-1.0%
12M Rtn52.0%13.8%-24.2%41.5%15.9%29.1%22.5%
3Y Rtn149.1%253.4%-64.7%153.7%75.9%96.0%122.6%
1M Excs Rtn14.6%48.1%12.6%12.3%2.8%1.4%12.5%
3M Excs Rtn15.1%133.5%-9.8%9.3%-12.8%-4.3%2.5%
6M Excs Rtn-11.0%-15.2%-35.1%-3.8%-36.4%-0.8%-13.1%
12M Excs Rtn33.8%-7.7%-48.3%15.7%-8.4%4.2%-1.8%
3Y Excs Rtn75.0%178.6%-129.9%84.1%-1.1%32.6%53.8%

Comparison Analyses

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FDA Approved Drugs Data

Expand for More
Post-Approval Fwd Returns
FDA
App #
Brand
Name
Generic
Name
Dosage
Form
FDA
Approval
3M
Rtn
6M
Rtn
1Y
Rtn
2Y
Rtn
Total
Rtn
NDA212097  GVOKE KITglucagonsolution9102019-7.6%-79.4%-50.6%-73.0%-29.2%
Collapse to Preview
Post-Approval Fwd Returns
FDA
App #
Brand
Name
Generic
Name
Dosage
Form
FDA
Approval
3M
Rtn
6M
Rtn
1Y
Rtn
2Y
Rtn
Total
Rtn
NDA212097  GVOKE KITglucagonsolution9102019-7.6%-79.4%-50.6%-73.0%-29.2%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Recorlev13964307 
Gvoke9483675339
Keveyis4850574910
Royalty, contract and other revenue961110
Other product revenue20   
Total29220316411050


Price Behavior

Price Behavior
Market Price$6.90 
Market Cap ($ Bil)1.2 
First Trading Date06/21/2018 
Distance from 52W High-30.3% 
   50 Days200 Days
DMA Price$6.25$7.05
DMA Trendindeterminateup
Distance from DMA10.3%-2.1%
 3M1YR
Volatility42.9%55.8%
Downside Capture49.9744.40
Upside Capture112.1781.90
Correlation (SPY)31.3%19.9%
XERS Betas & Captures as of 5/31/2026

 1M2M3M6M1Y3Y
Beta1.111.781.290.831.001.22
Up Beta3.291.841.591.951.550.80
Down Beta1.601.531.020.831.291.37
Up Capture20%106%100%13%66%336%
Bmk +ve Days13283667141432
Stock +ve Days10223259124351
Down Capture39%305%148%71%76%108%
Bmk -ve Days7132757109318
Stock -ve Days10183062118362

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with XERS
XERS58.1%55.8%1.03-
Sector ETF (XLV)13.1%15.1%0.616.5%
Equity (SPY)24.5%12.4%1.4819.6%
Gold (GLD)24.7%27.5%0.792.5%
Commodities (DBC)22.7%18.9%0.95-16.7%
Real Estate (VNQ)10.6%13.8%0.4914.7%
Bitcoin (BTCUSD)-38.7%42.4%-1.0413.0%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with XERS
XERS11.9%68.4%0.45-
Sector ETF (XLV)5.4%14.7%0.1925.0%
Equity (SPY)13.4%17.1%0.6130.5%
Gold (GLD)16.9%18.3%0.756.2%
Commodities (DBC)7.5%19.4%0.294.8%
Real Estate (VNQ)1.9%18.9%0.0025.3%
Bitcoin (BTCUSD)12.3%54.2%0.4217.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with XERS
XERS-10.1%79.1%0.20-
Sector ETF (XLV)9.5%16.6%0.4630.2%
Equity (SPY)15.2%18.0%0.7235.9%
Gold (GLD)12.4%16.1%0.637.0%
Commodities (DBC)5.9%18.0%0.2612.2%
Real Estate (VNQ)5.3%20.7%0.2230.4%
Bitcoin (BTCUSD)60.4%66.8%1.0015.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date5292026
Short Interest: Shares Quantity12.5 Mil
Short Interest: % Change Since 51520261.2%
Average Daily Volume1.3 Mil
Days-to-Cover Short Interest9.4 days
Basic Shares Quantity170.5 Mil
Short % of Basic Shares7.3%

Earnings Returns History

Updated 6/2/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
3/2/2026-1.6%-5.1%-8.5%
5/8/202515.2%3.6%2.2%
3/6/20259.5%21.2%29.4%
1/10/20251.2%-4.2%6.2%
11/8/20243.3%-9.2%7.4%
8/8/20244.7%19.7%17.8%
5/9/20241.6%7.0%25.9%
1/4/202412.9%25.0%9.4%
...
SUMMARY STATS   
# Positive121115
# Negative784
Median Positive5.4%18.3%11.7%
Median Negative-3.1%-8.3%-5.6%
Max Positive15.2%35.2%29.4%
Max Negative-11.8%-25.8%-12.4%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
3/2/2026-1.6%-5.1%-8.5%
5/8/202515.2%3.6%2.2%
3/6/20259.5%21.2%29.4%
1/10/20251.2%-4.2%6.2%
11/8/20243.3%-9.2%7.4%
8/8/20244.7%19.7%17.8%
5/9/20241.6%7.0%25.9%
1/4/202412.9%25.0%9.4%
11/9/2023-8.8%-25.8%2.5%
8/8/20233.6%-9.6%-12.4%
5/9/202313.7%18.3%20.8%
3/8/2023-11.8%-15.0%23.5%
1/5/2023-1.0%2.9%13.5%
11/9/2022-1.3%-7.3%-2.7%
8/10/202213.5%10.0%5.3%
5/11/2022-8.4%35.2%5.6%
3/10/20226.1%13.0%-0.8%
1/18/20221.4%-4.5%15.8%
11/10/2021-3.1%21.9%11.7%
SUMMARY STATS   
# Positive121115
# Negative784
Median Positive5.4%18.3%11.7%
Median Negative-3.1%-8.3%-5.6%
Max Positive15.2%35.2%29.4%
Max Negative-11.8%-25.8%-12.4%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/07/202610-Q
12/31/202503/02/202610-K
09/30/202511/06/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202403/06/202510-K
09/30/202411/08/202410-Q
06/30/202408/08/202410-Q
03/31/202405/09/202410-Q
12/31/202303/06/202410-K
09/30/202311/09/202310-Q
06/30/202308/08/202310-Q
03/31/202305/09/202310-Q
12/31/202203/08/202310-K
09/30/202211/09/202210-Q
06/30/202208/10/202210-Q
Collapse to Preview
Report DateFiling DateFiling
03/31/202605/07/202610-Q
12/31/202503/02/202610-K
09/30/202511/06/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202403/06/202510-K
09/30/202411/08/202410-Q
06/30/202408/08/202410-Q
03/31/202405/09/202410-Q
12/31/202303/06/202410-K
09/30/202311/09/202310-Q
06/30/202308/08/202310-Q
03/31/202305/09/202310-Q
12/31/202203/08/202310-K
09/30/202211/09/202210-Q
06/30/202208/10/202210-Q
03/31/202205/11/202210-Q
12/31/202103/11/202210-K
09/30/202111/10/202110-Q
06/30/202108/05/202110-Q
03/31/202105/13/202110-Q
12/31/202003/09/202110-K
09/30/202011/09/202010-Q
06/30/202008/10/202010-Q
03/31/202005/07/202010-Q
12/31/201903/12/202010-K
09/30/201911/07/201910-Q
06/30/201908/06/201910-Q

Recent Forward Guidance

Updated 6/1/2026

Latest: Q4 2025 Earnings Reported 3/2/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Total Revenue375.00 Mil382.50 Mil390.00 Mil43.0% Higher NewGuidance: 267.50 Mil for 2025
2026 R&D Expense Increase 25.00 Mil    
2026 SG&A Expense Increase 45.00 Mil    

Prior: Q1 2025 Earnings Reported 5/8/2025

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2025 Total Revenue260.00 Mil267.50 Mil275.00 Mil0.9% RaisedGuidance: 265.00 Mil for 2025

Insider Activity

Updated 6/8/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Halkuff, Dawn DirectSell60520266.0920,000121,886578,958Form
2Bormann-Kennedy, Barbara-Jean Anne DirectSell60520266.0916,00097,507770,916Form
3Johnson, John DirectSell60520266.0915,00091,4224,163,254Form
4Persky, Marla DirectSell60520265.9015,50091,433746,211Form
5Hecht, BethSee RemarksDirectSell60220266.0616,667100,9827,128,215Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Halkuff, Dawn DirectSell60520266.0920,000121,886578,958Form
2Bormann-Kennedy, Barbara-Jean Anne DirectSell60520266.0916,00097,507770,916Form
3Johnson, John DirectSell60520266.0915,00091,4224,163,254Form
4Persky, Marla DirectSell60520265.9015,50091,433746,211Form
5Hecht, BethSee RemarksDirectSell60220266.0616,667100,9827,128,215Form
6Hecht, BethSee RemarksDirectSell50120266.2316,667103,8057,431,320Form
7Hecht, BethSee RemarksDirectSell40320265.9916,66799,8597,248,635Form
8Brady, James Aloysius DirectSell40120265.5410,83460,036494,104Form
9Hecht, BethSee RemarksDirectSell30420266.2516,667104,0867,659,560Form
10Hecht, BethSee RemarksDirectSell20220267.4516,667124,1479,260,030Form
11Shannon, John Patrick JRSee RemarksDirectSell10620267.0824,907176,25719,144,652Form
12Hecht, BethSee RemarksDirectSell10520267.4316,667123,7769,714,496Form
13Johnson, John DirectSell121920257.22135,400977,0195,037,227Form
14Bormann-Kennedy, Barbara-Jean Anne DirectSell121520257.0915,000106,4141,010,938Form
15Hecht, BethSee RemarksDirectSell120220257.0116,667116,7819,250,077Form
16Shannon, John Patrick JRSee RemarksDirectSell111720257.4623,242173,40219,719,772Form
17Hecht, BethSee RemarksDirectSell111320257.4016,667123,2969,889,430Form
18Persky, Marla DirectSell91220257.7215,500119,6101,095,786Form
19Sherman, Jeffrey W DirectSell82920257.9242,232334,5151,736,166Form
20Johnson, John DirectSell81520257.32107,500786,4596,097,678Form
21Halkuff, Dawn DirectSell81320257.2842,500309,226836,728Form
22McCulloch, KevinSee RemarksDirectBuy61620254.3825,000109,4757,481,894Form
Core Cache Last Updated: 6/17/2026