Xeris Biopharma Stock Soars to Multiyear High as Recorlev Sales Nearly Double and 2030 Target Tops $1 Billion

Shares of Xeris Biopharma Holdings Inc. jumped nearly 29% on Thursday after the endocrine and rare disease drugmaker reported a 44% increase in quarterly revenue, raised its full-year forecast and sharply increased its long-term sales target.

Xeris shares rose $3.00 to $13.46 in Thursday trading, with about 3.3 million shares changing hands. The gain lifted the company's market value to about $2.5 billion, and the stock is up roughly 36% over the past year.

The stock was on track to reach its highest level in more than seven years, according to Stocktwits.

Revenue surges

Total revenue increased 44% year over year to $107 million, and Recorlev net revenue rose 93% to more than $71 million.

Profitability improved sharply. Net income climbed to $11.3 million from $0.6 million a year earlier, while adjusted EBITDA reached $30.8 million. Gross margin increased to 88% from 85%, helped by a favorable product mix.

Analyst comparisons varied. Revenue beat estimates of $101.7 million, according to Fiscal.ai, though GuruFocus compared the result with a higher estimate of $111.02 million.

Recorlev leads

Recorlev, a treatment for endogenous Cushing's syndrome, is the company's growth engine. It generated net revenue of $71.5 million, up 93% from $37.0 million a year earlier.

Not every product grew. Gvoke generated net revenue of $21.7 million, compared with $25.2 million a year earlier.

Bigger targets

Xeris raised both near-term and long-term forecasts. It lifted its 2026 revenue forecast to $395 million to $405 million, from $385 million to $390 million.

The long-range outlook improved dramatically. Chairman and Chief Executive John Shannon said the company is now "on a path to reach more than $1 billion in total revenue in 2030," up from earlier guidance of about $750 million.

Shannon also said the company now sees Recorlev on a path to nearly $1 billion in annual net revenue three to four years sooner than previously expected.

Costs rising

Growth is coming with higher spending. Selling, general and administrative expenses rose $17.6 million, mainly reflecting personnel costs supporting the commercial business, including Recorlev's expansion.

Pipeline

Xeris also kept a pivotal thyroid study on track for year-end. Investors will watch Recorlev's continued uptake and progress on the company's development programs.