Xeris Pharmaceuticals (NASDAQ: XERS) was featured in a recent U.S. Equity Research Report published by Mizuho Securities USA LLC. The report reads, “We are lowering our 12-month price target to $18 from $22 and reaffirming our Buy rating on Xeris following its capital raise, completed on 2/11/20. The company issued 9 million shares, upsized from 6 mil, at $4.15 per share, raising approximately $37.4 mil prior to fees. We believe this should satisfy the company’s capital requirements through 2H21, and expect another capital raise of $60 mil may be required to get Xeris to breakeven, which we continue to forecast in 2H22. We remain positive on the commercial prospects of the Gvoke pre-filled syringe and autoinjector, particularly after our most-recent Mizuho proprietary expert doctor calls (see note here).”
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About Xeris Pharmaceuticals, Inc.
Xeris (NASDAQ: XERS) is a specialty pharmaceutical company delivering innovative solutions to simplify the experience of administering important therapies that people rely on every day around the world. With a novel technology platform that enables ready-to-use, room-temperature stable formulations of injectable and infusible therapies, the company is advancing a portfolio of solutions in various therapeutic categories, including its first commercial product, Gvoke(TM). Its proprietary XeriSol(TM) and XeriJect(TM) formulation technologies have the potential to offer distinct advantages over conventional product formulations, including eliminating the need for reconstitution, enabling long-term, room-temperature stability, significantly reducing injection volume, and eliminating the requirement for intravenous (IV) infusion. With Xeris’ technology, new product formulations are designed to be easier to use by patients, caregivers, and health practitioners and help reduce costs for payers and the healthcare system. Xeris is headquartered in Chicago, IL. For more information, visit www.XerisPharma.com.
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