Xeris Biopharma jumps 21% after raising revenue outlook

The biopharmaceutical company now expects full-year revenue of $395 million to $405 million, compared with its previous forecast of $385 million to $390 million. It also raised its 2030 revenue target to more than $1 billion from around $750 million.

FactSet-polled analysts had forecast revenue of $387.9 million this year and $719.2 million in 2030. Chief Executive Officer John Shannon said the third-quarter performance had put the company on “a new growth curve” and was accelerating its near-term outlook. He said the trajectory reflected growth across the full enterprise.

Xeris reported quarterly net income of $11.3 million, or 6 cents a share, compared with about $620,000, or breakeven per share, a year earlier. Revenue increased to $107.2 million from $74.4 million, including $106.3 million in product revenue. Analysts had expected earnings of 3 cents a share on revenue of $101.7 million.