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Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
Xeris Biopharma Holdings, Inc. operates as a biopharmaceutical company, focusing on the development and commercialization of therapeutic solutions for individuals across the fields of endocrinology, neurology, and gastroenterology. Its current portfolio includes: Gvoke: A ready-to-administer liquid glucagon designed to treat severe hypoglycemia. Keveyis: A therapy addressing hyperkalemic, hypokalemic, and related forms of primary periodic paralysis.
How they make money
Xeris Biopharma is a commercial-stage biopharmaceutical company that generates revenue primarily through the sale of its proprietary pharmaceutical products, Gvoke, Recorlev, and Keveyis. The company utilizes its proprietary non-aqueous formulation technologies, XeriSol and XeriJect, to develop and commercialize ready-to-use, room-temperature stable injectable therapies for chronic endocrine and neurological diseases.
Products & services
The company's commercial portfolio includes Gvoke (glucagon injection for severe hypoglycemia), Recorlev (levoketoconazole for endogenous Cushing's syndrome), and Keveyis (dichlorphenamide for primary periodic paralysis).
Brands & revenue mix
Gvoke
Glucagon injection for the treatment of severe hypoglycemia.
Separate brand revenue is not available in this research.Source
Recorlev
Levoketoconazole for the treatment of endogenous Cushing's syndrome.
Separate brand revenue is not available in this research.Source
Keveyis
Dichlorphenamide for the treatment of primary periodic paralysis.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
The company historically experiences high customer concentration, with a small number of wholesale distributors and specialty pharmacies accounting for a significant majority of gross product revenue.
Suppliers, materials & equipment
Contract Manufacturing Organizations (CMOs) — The company utilizes various third-party contract manufacturing organizations to produce its pharmaceutical products in compliance with CGMP regulations; specific supplier names are not disclosed.Source
Third-party logistics providers — The company utilizes third-party logistics providers for commercial order processing and finished goods distribution to specialty pharmacies and wholesalers; specific vendor names are not disclosed.Source
Strengths
Proprietary non-aqueous formulation technology platforms (XeriSol and XeriJect)Source
Risks
Loss of orphan drug exclusivity and generic competition for KeveyisSource
Dependence on third-party contract manufacturers and logistics providersSource
Overall investment score · Quality, value, risk and opportunity
27
Poor
PoorElite
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
47
Weak
Financial Strength
22
Business Quality / Moat
50
Management
80
Growth Quality
68
Risk / Durability
21
Weak Company · Expensive Stock
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
35
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
49/100
Building Historical Record
Model Score 49/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
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WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
What we like
•Recent buyback activity is present
What to watch
•Debt service risk
•Valuation is a weaker part of the current profile
•Revenue fundamentals are weak
•Debt / balance-sheet profile needs attention
•Asset quality is a weaker factor
Company-specific research
Questions worth answering for XERS
Research inputs 100% complete
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
•Can XERS maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
•Is XERS's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
•Is XERS's debt load manageable relative to cash generation, interest costs and upcoming maturities?
•What specifically needs to improve for XERS to reach sustainable profitability?
•What future growth or profitability would be needed to justify XERS's current valuation?
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
Volatility = How violently is it moving?
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for XERS
Detected from reported data — verify before acting.
Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Debt service risk
Interest coverage is low (~0.9x). Earnings may be strained to cover interest expense.
Community Sentiment
0 active · 0 total calls
0% Bullish (0) 0% Bearish (0)
No personal call yet on XERS.
Potential upside factors
+Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
+Proprietary non-aqueous formulation technology platforms (XeriSol and XeriJect).
+Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
−Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Biotechnology industry.
−Loss of orphan drug exclusivity and generic competition for Keveyis.
−Dependence on third-party contract manufacturers and logistics providers.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdown
Wall Street Score
Weak27/ 100
Weak (0–50)Fair (51–71)Strong (72+)
Debt
Poor
10
Debt Cost77.0%
Debt Reduction YoY86.1%
Debt / Equity2.76x
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Revenue
Poor
37
Revenue YoY14.9%
Revenue CAGR33.4%
Net Margin-5.1%
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Asset
Weak
40
Asset Growth YoY18.7%
Liquidation/Share-$0.06
Net Assets/MCap0.08x
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Capital
Poor
2
Earnings Yield-1.1%
Buyback Yield0.3%
Debt Cost77.0%
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Management
Strong
80
ROIC15.8%
ROE176.3%
ROA-4.2%
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Moat
Fair
50
EPS Growth—
FCF/Share Growth—
Rev/Share Growth28.4%
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Valuation
Poor
0
Intrinsic Value—
Value Reference—
MOS—
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Buffett
Poor
35
Revenue37
Moat50
Valuation0
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MOS
Poor
0
MOS %—
Value Reference—
Deep Discount Reference—
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Financial
Poor
24
Interest Coverage0.9x
ROIC15.8%
FCF Yield1.7%
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Master
Poor
26
Financial24
Valuation0
Debt10
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Resilience
Weak
40
Survival Years0.6 yrs
Current Ratio2.19x
FCF Margin9.6%
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Score Changes
2 historical score records available
Previous Score
26
Jul 24, 2026
Change
+0.5
points
Current Score
27
Oct 1, 2026
Category Changes
Revenue+4.6
Debt0
Assets-5.4
Capital-3.0
Management+7.7
Moat0
Valuation0
Buffett+1.2
XERS increased 0.5 points because Revenue improved by 4.6 points, Management improved by 7.7 points.
Positive Contributors
+ Revenue improved by 4.6 points
+ Management improved by 7.7 points
Negative Contributors
− Asset declined by 5.4 points
− Capital declined by 3 points
Projected Score
Projected Score
27
Projected Change
+0.8 points
Preliminary comparable-period financial changes suggest improvement of approximately 0.8 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
Valuation unavailable
Current Price
$10.45
Model Intrinsic Value
—
Difference
—
Margin of Safety
—
Value Reference: —
Deep Discount Reference: —
Intrinsic value is not currently available for this stock, so valuation can't be calculated.
Monetary values in USD. Share counts in raw units.
Income StatementBalance SheetCash Flow
AnnualQuarterlyTTM + Annual
All rows
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
Line Item
TTM
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
Revenue
$335.4M
$291.8M
$203.1M
$163.9M
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····
····
····
····
····
····
Cost of Revenue
$55.9M
$53.4M
$36.8M
$28.6M
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····
····
····
····
····
····
Gross Profit
$279.5M
$238.4M
$166.2M
$135.3M
····
····
····
····
····
····
····
Research & Development
$34.8M
$31.2M
$25.6M
$22.3M
····
····
····
····
····
····
····
SG&A Expenses
$208.1M
$182.4M
$163.5M
$146.1M
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····
····
····
····
····
····
Operating Expenses
$242.9M
$213.5M
$199.9M
$179.3M
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····
····
····
····
····
····
EBITDA
$16.4M
$12.7M
-$14.0M
-$23.7M
····
····
····
····
····
····
····
Operating Income
$36.6M
$24.9M
-$33.6M
-$44.0M
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····
····
····
····
····
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Interest Expense
$28.3M
$29.1M
$33.2M
$26.6M
····
····
····
····
····
····
····
Income Before Tax
-$17.2M
$554K
-$57.1M
-$63.5M
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····
····
····
····
····
····
Income Tax Expense
$0.00
$0.00
-$2.3M
-$1.2M
····
····
····
····
····
····
····
Net Income
-$17.2M
$554K
-$54.8M
-$62.3M
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····
····
····
····
····
····
Basic EPS
$-0.10
$0.00
$-0.37
$-0.45
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····
····
····
····
····
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Basic Shares
173M
160M
147M
138M
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····
····
····
····
····
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Diluted Shares
173M
173M
147M
138M
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····
····
····
····
····
····
Upgrade to Premium for up to 10 annual periods, where available.
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
Cash position grew
What Weakened
Margins contracted
Debt increased
Potential Score Impact
Positive indicators included revenue growth, EPS growth, cash levels. Pressure indicators included debt levels, net income margin. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 28.7%. EPS increased 1387.6%. Cash increased 105.4%. Total debt increased 12.5%. Net income margin declined by 31.1 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
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Government disclosed trading activity is available on the Smart Money directory. Filings may be delayed and may not represent complete current holdings.
Dividend HistoryShare
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Predictions & Historical PerformanceShare
Conservative Projected Values
3 Years
$———.——
Premium
5 Years
$———.——
Premium
10 Years
$———.——
Premium
Conservative Projection Rate
——%
Premium
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
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